Financial crisis looms for SABC

File picture: Karen Sandison

File picture: Karen Sandison

Published Jan 27, 2017

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 The SABC could be heading into a financial crisis after the ad hoc committee warned that a funding solution was needed.

In drafting the interim report into the SABC the committee said on Friday there was a looming financial crisis at the public broadcaster.

This has been backed up by the testimony of people who gave evidence during the inquiry.

The committee said it needed to come up with a plan to rescue the SABC.

ACDP MP Steve Swart said the public broadcaster was heading for a financial crisis. He said they noted this looming crisis, and urgent steps were required to fix the SABC.

He said there were letters from the SABC pointing to this financial crisis.

“The corporation may be at risk of being technically solvent,” said Swart. He said there were serious cash flow problems at the SABC.

Makhosi Khoza of the ANC said they have noted the looming financial crisis.

The committee is expected to make recommendations on the crisis and other problems.

The SABC has suffered serious financial losses in the past few years.

Political Bureau

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