The SABC is expected to announce a R500 million loss when it tables its financials in Parliament amid a poor fiscal performance in the last financial year.
The public broadcaster had refused to disclose to Parliament, when it appeared before the portfolio committee on communications a month ago, how much it would lose. Earlier reports had suggested that the unaudited financials had shown a loss of R500m in the last financial year. This is in addition to R400m lost in the previous financial year.
Spokesperson Kaizer Kga- nyago said yesterday that the public broadcaster would table its financials in the National Assembly at the end of the month. The public would be able to study the financials once the full report had been tabled in Parliament.
The SABC suffered a loss of R400m in the 2014/15 financial year. The last time it posted a profit was in the 2013/14 financial year – with R358m recorded.
When the board and its executives appeared before the portfolio committee last month, they refused to disclose the extent of the losses.
But the public broadcaster and the Department of Communications have hinted at a loss during the financial year under review. At the same meeting, the ANC blocked an inquiry into the SABC.
The ANC had backtracked on its decision to back the inquiry regarding the firing of eight staff members for challenging censorship policies and the SABC blocking the broadcast of violent protests.
The journalists were re- instated, except for Vuyo Mvoko, who is appealing the high court decision.
The SABC has moved from one crisis to the next over the past 15 years, with several chief executives not serving their full terms amid infighting.
Frans Matlala was the last to have one of the shortest stints before receiving a golden handshake. He was appointed in July last year and suspended in November. He left in July.