'No financial bailout' for SABC, yet - communications minister

2017-04-28 12:19
Newly appointed Minister of Communication Ayanda Dlodlo (Lerato Sejake, News24)

Newly appointed Minister of Communication Ayanda Dlodlo (Lerato Sejake, News24)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Cape Town – There are no plans yet for Treasury to give the ailing SABC a bailout, Communications Minister Ayanda Dlodlo said on Friday.

Media reports of a potential R1bn bailout were incorrect, and her department and new Finance Minister Malusi Gigaba had only been discussing how the broadcaster could revive its current revenue streams, she told reporters in Pretoria.

She was briefing media following Cabinet's bi-weekly meeting this week.

"There is no financial bailout. The discussion is about assistance to the SABC, which might not emanate in the financial bailout (sic)," she said.

The new interim board, which was tasked with turning the SABC around, did not have a person with financial expertise.

"I found it an anomaly that Parliament did not look at that issue," she said.

Investigations underway

A person from her ministry with a strong financial background had been assigned to help the interim board look into the public broadcaster's financial struggles.

"If the outcome of the investigations that are underway calls for a bailout, maybe that is the decision that will be taken. But right now we are talking about ensuring that the SABC is in a sound financial position."

Fin24 reported on Wednesday that the SABC was in talks with Treasury to secure a guarantee to help it claw its way out of its financial crisis, after it failed to pay some of its content suppliers in March.

SABC spokesperson Kaizer Kganyago had said the financial difficulties were due to an economic crunch facing all companies in the country, and lower advertising revenue. He said a figure had not yet been discussed, but talks were ongoing.

Parliament's communications portfolio committee on Wednesday said the SABC had to fill vacant executive-level positions immediately to deal with poor performance, following a workshop in Stellenbosch.

Read more on:    sabc  |  ayanda dlodlo  |  media

Join the conversation!

24.com 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.
NEXT ON NEWS24X

Inside News24

 
ADVERTORIAL
Competition regulation for a growing and inclusive economy

ADVERTORIAL: The Competition Commission of South Africa is conducting advocacy work in the South African automotive aftermarket industry and has gazetted a Draft Code of Conduct for public comment.

/Africa
Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

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 24.com network.

Settings

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.