Ndabeni-Abrahams: SABC to receive R3.2bn bailout from National Treasury
The minister made the announcement at a media briefing in Tshwane this morning.
Ndabeni-Abrahams made the announcement at a media briefing in Tshwane on Friday morning.
The minister said R2.1 billion would be transferred to the SABC on Monday while the broadcaster would the R1.1 billion once all the conditions were met.
“The remaining balance of R1.1 billion will be transferred once the public broadcaster meets the remaining three outstanding preconditions or firmly demonstrates evidence to fully comply,” she said.
Ndabeni-Abrahams said the SABC didn’t meet all the pre-conditions set by Treasury and would only be getting a portion of the bailout.
“The SABC submitted an updated response to the set preconditions on 30 August 2019. These were jointly assessed by National Treasury and the Department of Communication, revealing that out of the eight preconditions, the SABC has fully met five, partially met two, and one wasn’t met.”
The public broadcaster announced this week it had met government’s pre-conditions for the bailout. The SABC needed about R3.2 billion from National Treasury.
One of the requirements Treasury wanted from the cash strapped public broadcaster was the appointment of a restructuring officer to lead a turnaround strategy.
WATCH: Ndabeni-Abrahams announces SABC bailout