DURBAN – The South African Broadcasting Corporation (SABC) will receive R2.1 billion of its R3.2 billion bailout on Monday, communications minister Stella Ndabeni-Abrahams announced on Friday in Pretoria.
The remaining R1.1 billion would be transferred to the ailing public broadcaster when three outstanding conditions had been met, said Ndabeni-Abrahams.
In his February budget speech, finance minister Tito Mboweni said the broadcaster would be considered for a bailout subject to several preconditions being met.
Ndabeni-Abrahams said that in its response to the preconditions submitted by the SABC in August, it had been found that the broadcaster had met five of the eight conditions set by national Treasury.
The conditions that had been met were: