More than R1bn Bailout for SABC

The South African Broadcasting Corporation to receive a bailout of more than R1 billion

The Department of Communications has announced that the South African Broadcasting Corporation (SABC) will receive a bailout of more than R1 billion.

Communications Minister, Siphiwe Nyanda, points out that, “We hope that the financial injection by government will help the SABC meet its urgent needs, such as payment of outstanding debts and other matters of priority."

In a press statement, Nyanda states that through newly introduced tight control measures that include regular management reports, the shareholder will ensure that the money given to the public broadcaster is utilised properly and to settle urgent outstanding financial obligations.

To read the article titled, “SABC gets R1.5bn govt bailout,” click here.

Source: 
News24

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