Struggling SABC to receive help from another government bail-out

Struggling SABC to receive help from another government bail-out

- Having failed to better their financial situation for 2019, the SABC will be receiving money from the National Treasury

- Although the exact amount that will be allocated to the SABC has not yet been released to the public, this detail is being finalised and will be shared soon

- South Africa’s Telecommunications minister has stated that this amount allocated to SABC will be used to prevent the entity from "collapsing"

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The South African government has announced that funds have once again been allocated by the National Treasury to assist the South African Broadcasting Commission (SABC) with their dire financial situation.

According to Telecommunications Minister, Stella Ndabeni-Abrahams, this bail-out is intended to help prevent the broadcasting utility from “collapsing”.

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“It is in our best interest to ensure that SABC survives and thrives in everything that they do. That is why we committed that we will be giving SABC money,” Ndabeni-Abrahams explained.

While the National Treasury has explicitly announced that funds will be given to the SABC to help keep it afloat, Briefly.co.za gleaned that the exact amount has yet to be shared with the public.

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2018 saw the SABC plunge into even more dire financial struggles, following the approximate R997 million in losses that the broadcaster suffered over 2016 and 2017.

Last year, communications minister, Communications Minister, Ayanda Dlodlo called the SABC a “dying institution,” Briefly.co.za reported.

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Source: Briefly.co.za

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