'The R3.2bn SABC bailout is more focused on the broadcaster's debts'

The South African Broadcasting Corporation (SABC) will receive a bailout of R3.2b from National Treasury, Communications Minister Stella Ndabeni-Abrahams announced on Friday.

The minister said R2.1b would be transferred on Monday while the remaining R1.1b will be transferred once the broadcaster has met all conditions.

One of the requirements the Treasury wanted from the cash-strapped public broadcaster was the appointment of a restructuring officer to lead a turnaround strategy.

Clement Manyathela speaks to the Department of Communications director general Nomvuyiso Batyi.

RELATED: SABC bailout a reward for incompetence and corruption - Sikonathi Mantshantsha

This is a short-term funding that has been appropriated for the SABC. It will go a long way in alleviating the pressure as far as the creditors that the SABC owes.

Nomvuyiso Batyi, Director general - Department of Communications

RELATED: Department of Communications sets conditions for SABC financial relief

At this point, there is no call for retrenchments. The SABC will advise how it sees the future of the SABC.

Nomvuyiso Batyi, Director general - Department of Communications

The funding does not necessarily mean retrenchments have been ruled out. This is more focused on the debts of the SABC.

Nomvuyiso Batyi, Director general - Department of Communications

Listen to the full interview below...


Recommended

by NEWSROOM AI
Read More
Communications ministry pleased with SABC's debt reduction

Communications ministry pleased with SABC's debt reduction

Deputy Minister Pinky Kekana says the broadcaster is showing commitment to work towards being accountable.

End-of-year ritual resulted in the fatal stabbing of a grade 11 pupil, says MEC

End-of-year ritual resulted in the fatal stabbing of a grade 11 pupil, says MEC

The Pietermaritzburg pupil died in his mother's arms on Tuesday.

[LISTEN] Convicted rapist Nicholas Ninow breaks down in court, apologises

[LISTEN] Convicted rapist Nicholas Ninow breaks down in court, apologises

Ninow used his court proceeding to relay a poem he wrote for a seven-year-old girl he sexually assaulted in a toilet cubicle.

Load shedding has significant impact on economy - Cas Coovadia

Load shedding has significant impact on economy - Cas Coovadia

Acting CEO of Business Unity South Africa says the lack of load shedding contributed to the GDP growth in the previous quarter.

'Candidates gunning for top DA post should only campaign internally'

'Candidates gunning for top DA post should only campaign internally'

Party federal council elections presiding officer Desree van der Walt says its all systems go for this weekend's elections.

SABC bailout a reward for incompetence and corruption - Sikonathi Mantshantsha

SABC bailout a reward for incompetence and corruption - Sikonathi Mantshantsha

Daily Maverick journalist Sikonathi Mantshantsha says the SABC is still bankrupt despite eight bailouts over the past 10 years.

Popular articles
Yves Saint Laurent starts selling designer condoms for R95 a pop

Yves Saint Laurent starts selling designer condoms for R95 a pop

Some things in life just don’t need a “designer” counterpart, reckons branding and advertising expert Andy Rice.

We bought 2 corrupt businesses back in 2012 - Stephen van Coller (CEO at EOH)

We bought 2 corrupt businesses back in 2012 - Stephen van Coller (CEO at EOH)

If EOH didn’t make those mistakes, the company would have no debt today, laments its CEO, Stephen van Coller.

'Realistically, load shedding may continue for whole week,' says Eskom COO

'Realistically, load shedding may continue for whole week,' says Eskom COO

The power utility's Chief Operating Officer Jan Oberholzer, explains why the power utility is implementing a power outage.

It's VW, but not as you know it - Why did Volkswagen change its logo?

It's VW, but not as you know it - Why did Volkswagen change its logo?

John Maytham asks what's behind Volkswagen's new-look logo...

Eusebius slams humourous reactions to Bishops teacher's sexual affair scandal

Eusebius slams humourous reactions to Bishops teacher's sexual affair scandal

The teacher has resigned following allegations that she was involved in a sexual relationship with an 18-year old pupil.

5 retirement saving tips for those who left it late

5 retirement saving tips for those who left it late

It’s better to start late than never! The Money Show’s Bruce Whitfield interviews Jeanette Marais.

[WATCH] Woman faints after hairdresser cuts 12-inch hair without telling her

[WATCH] Woman faints after hairdresser cuts 12-inch hair without telling her

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Job hopeful caught cheating during his Skype interview

[WATCH] Job hopeful caught cheating during his Skype interview

Khabazela shares tweets and Facebook posts that have gone viral.