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.
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
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...