SABC Blames Loadshedding and TV License Non-Payment for R1 Billion Net Loss, SA Stunned

• The SABC has suffered a net loss of R1.13 billion this fiscal year, marking an increase of R949 million from the previous year
• The decline in revenue is linked to factors such as the ongoing loadshedding crisis that's crippling the country
• However, the SABC Board is determined to turn things around by implementing intervention strategies

JOHANNESBURG - The South African Broadcasting Corporation (SABC) has recorded a net loss of R1.13 billion in the current fiscal year, exceeding the previous year's loss by R949 million.

SABC's revenue challenges

The public broadcaster attributes this substantial decline in revenue to a range of internal and external factors. This includes the analogue switch-off, blackouts, challenges in capitalising on sports properties, and the rising rate of TV Licence non-compliance, reported SABCNews.

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SABC board announces future plans

In an official statement, the SABC Board has committed to prioritising actions aimed at stabilising revenue generation and implementing necessary interventions.

The board also expresses confidence in the corporation's ability to achieve financial sustainability and growth going forward.

The SABC is also excited about its new offerings, such as SABC Plus and the recently launched DTT language channel, Lehae.

SABC's underperformance stuns SA

Read some of the comments below:

Richard Munwanati suggested

"Hiring competent people for SOEs is the key to success and allowing those people to make their own decisions without the interference of politicians."

Khaya Singama stated:

"I think it's about time the Sabc board hire someone who knows about show business or a team that will bring fortunes."

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Mlungisi Mncwabe posted:

"I am sure salaries at the top floor never suffered any losses. But remained fat and secured."

Cinga Mfenyana wrote:

"Please don't cut jobs SABC. The unemployment rate is more than enough as it is. Just decrease those fat paychecks you give the board."

Ndips Jwarha Mazaleni commented

"So it was not Hlaudi's lack of formal education."

SABC takes action against 5.6m TV license account holders, citizens not budging: “Who still pays for that”

In a related article, Briefly News reported that the South African Broadcasting Corporation (SABC) finds itself burdened by a staggering R44.2 billion in unpaid TV licence fees, owed by approximately 9.2 million South Africans.

Mondli Gungubele, the Minister of Communications and Digital Technologies disclosed the information. He further revealed that 5.6 million TV licence accounts have been handed to external debt collectors to recoup the money.

Source: Briefly News