The South African Broadcasting Corporation (SABC) said it did not need a bailout and would return to profitability in a couple of years.
The SABC board and management on Wednesday briefed Parliament’s Standing Committee on Public Accounts about irregular expenditure and finances. The public broadcaster is currently in its second year of its turnaround plan, which included mass retrenchments.
Deputy Minister of Communications Philly Mapulane said the SABC had seen a decline in revenue, which was a serious concern for both the shareholder and the company.
But he said the broadcaster was doing well in terms of meeting certain targets in the turnaround plan.
He added that there was relative stability at the SABC since the turnaround: “Management has assured us that it is working around the clock in that, and that is the declining revenue they’re experiencing. If it is not attended to, it might pose a significant threat for the SABC going forward.”
But there’s no need for a bailout: “Management is insisting that there’ll be no need for a further bailout but from our side. I think it does remain a concern.” The SABC said a public media levy to replace TV licences would be an option to return it to profitability.
Source: News365
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