SABC continues to see improvements, says CEO Mxakwe

The public broadcaster presented its 2019/2020 annual report, indicating that year-on-year fruitless and wasteful expenditure now stood at R27 million.

Madoda Mxakwe, SABC group chief executive officer. Picture: Sethembiso Zulu/EWN

CAPE TOWN - The SABC said that fruitless and wasteful expenditure had dropped by 87% and it was trying to turn the ship around.

The public broadcaster presented its 2019/2020 annual report, indicating that year-on-year fruitless and wasteful expenditure now stood at R27 million.

The SABC has reported a net loss of R511 million.

This came as news staff became angry with management and confronted group executive for news and current affairs, Phatiswa Magopeni, demanding that retrenchments be abandoned.

The corporation said that it was issuing Section 189 notices to 400 staff members and that 170 positions would be advertised.

Year-on-year fruitless and wasteful expenditure decreased by 87% to R27 million.

Of this, R26 million was incurred from interest and penalties due to late payments caused by cash-flow constraints.

SABC Group CEO Madoda Mxakwe: "We continue to see improvements. You will recall in 2017, we were at what is called a disclaimer from an audit opinion, we've really moved. We've now registered an audit opinion and that is qualified with findings. It is not where we want to be but it is significantly better than where we were."

The public broadcaster's turnaround plan includes exploring emerging revenue-generating opportunities, like commercial partnership and investing in exciting, compelling and cutting-edge content.

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