State’s R1 billion SABC bailout gets coalition thumbs-up

2009-11-26 09:26

The SOS Coalition, which represents trade unions, media NGOs,

independent producers, academics and freedom of expression activists on Thursday

welcomed government guarantees given to the SABC.

“The SABC is suffering from serious liquidity problems, and the

guarantees should enable the corporation to borrow money more easily and

cheaply,” SOS said in a statement.

“The easing of liquidity problems should create the space for the

SABC to be stabilised and restored to a sound financial footing.”

The guarantees also showed “significant progress” in ensuring


The coalition supported the arrangement that the initial R1 billion

would be made available immediately, but that the remaining R473 million be

dependent on the development of a detailed project plan that commits the SABC to

explicit revenue targets and cost cutting measures.

“This is important – the SABC needs to be held to account.”

The agreement between the new SABC board and the Minister of

Communications should ensure the effective spending of public money and should

not influence editorial independence. The agreement should also be made


Communications Minister Siphiwe Nyanda said the money could be used

for urgent needs like payment of outstanding debts and other matters of


Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.