CAPE TOWN – On Tuesday the 4th of September, public broadcaster reported a net loss of R622 million for the 2017/18 financial year, compared with R977m in the previous financial year.
"The turnaround strategy that was developed subsequent to the financial year end is designed to ultimately return the corporation to its financial stability," it said in a statement.
"We have developed a robust turnaround strategy which focuses on financial sustainability, restoring the integrity, credibility and culture of excellence in the public broadcaster. We continue on a drive to stabilise the SABC financially, through the reduction of operating costs."
However, even though it suffered a big loss the executives and senior management received over R1 million in total remuneration for the year.
As part of the annual report, the SABC is required to disclose the pay its executives receive.
The remuneration section of the report details pays to board members, senior management, and executive directors.
In total the group paid R45.5 million in salaries to its 40 senior managers, executive and non-executive directors, averaging about R1.13 million per person.
The highest paid executives and senior management were, CFO Nomsa Philiso with R3.2 million and Group Executive Bessie Tugwana received R3 million.
Other executives received:
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Name of member: Position Salary Geldenhuys TV Group Executive R2.9 million Mulaudzi T Group Executive R2.7 million Motsweni SM Group Executive R2.6 million Ralitabo TE Group Executive R2.5 million Bayi LV Company Secretary R2.3 million Kganyago MK Group Executive R2.0 million Dlamini TS Acting CFO R1.5 million Jiyane HM Acting Group Executive R1.5 million Yunus Z Acting Group Executive R1.4 million Mathebula SJ Acting Group Executive R1.4 million Kweyama Khanyisile Thandiwe Board Member R1.3 million Tsedu Mathatha Godfrey Board Member R1.3 million Aguma JR Acting CEO R1.3 million Williams RV Acting Group Executive R1.2 million Mosweu KE Acting Group Executive R1.1 million Moilwa MP Acting Group Executive R1.1 million Ramakgolo LE Acting Group Executive R1.1 million Naidoo Krish Board Member R1.0 million Matisonn Jonathan Board Member R1.0 million