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SABC will identify non-core assets to sell, not govt - Ndabeni-Abrahams

The minister said the SABC met most of the preconditions for a government bailout and would get the first transfer of R2.1 billion on Monday.

FILE: Communications Minister Stella Ndabeni-Abrahams who announced on Friday that the SABC would receive a R3.2 billion bailout.. Picture: GCIS.

CAPE TOWN - The South African Broadcasting Corporation (SABC) is still considering selling some of its assets as part of the public broadcaster’s turnaround strategy and funding pre-conditions set by National Treasury.

This was according to Communications Minister Stella Ndabeni-Abrahams who announced on Friday that the SABC would receive a R3.2 billion bailout.

Ndabeni-Abrahams said the SABC met most of the conditions and would get the first transfer of R2.1 billion on Monday.

Finance Minister Tito Mboweni said in his budget speech this year additional support for state-owned enterprises like the SABC would be provided by selling non-core assets.

One of National Treasury’s pre-conditions for the funding was that the SABC should identify assets it could dispose of, which included radio stations.

Ndabeni-Abrahams said it was unclear which assets the SABC was considering.

“The identification of the non-core assets, I haven’t identified them and I’m not going to. It is the responsibility of the SABC to identify non-core assets, they are the ones who will tell us based on their evaluation in terms of the contribution those entities make,” Ndabeni-Abrahams said.

She said assets could also be acquired in the future. The public broadcaster would get the remaining R1.1 billion of its bailout once outstanding preconditions were met.