By Poloko Tau

The cash-strapped SABC will tighten its purse strings and freeze most of its vacant posts in an attempt to end its monetary woes.

Current staff has, however, been assured that their jobs were safe as retrenchments were not part of the public broadcaster's turnaround financial strategy unveiled in Johannesburg on Thursday.

Although it was sitting on a R784-million budget deficit the SABC emphasised that it was still a sustainable business entity.

"We may be facing challenges, however, we have conscious plan to turn the business around," said SABCs acting chief executive Gab Mampone.

While he acknowledged SABC's problems Mampone said the days of the broadcaster funding itself were gone and that advertising revenue on its own cannot fulfil the broadcaster's mandatory obligations.

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