Today's Labour News

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sabcTimesLIVE reports that the SA Broadcasting Corporation (SABC) cannot guarantee that it will be able to pay its employees' salaries at the end of March, as revealed in a document the public broadcaster presented to Parliament on Tuesday.  

The document also warned that should the financial crisis not be addressed urgently, the SABC would be unable to operate and the "black-on-air" scenario was a real and highly possible threat.  Appearing before the national assembly's portfolio committee on communication to talk about progress with its turnaround strategy, labour relations issues and the implementation of an inquiry’s recommendations, CEO Madoda Mxakwe warned that the broadcaster was facing factual insolvency by the end of March if nothing was done in terms of an application for more funding.  The SABC has applied for government funding due to its severe liquidity crisis, which, according to the document, threatens the corporation's status as a going concern.  "The SABC's cash flow is depleted and therefore the SABC cannot honour payments to service providers, adhere to its committed contracts, and commission local content productions," the document indicates.  It also shows that several major content providers of key programming like ‘soapies’ have ceased production and are retaining content until outstanding payments have been received.

  • Read the full original of Andisiwe Makinana’s report on this story at TimesLIVE
  • See too, Mxakwe: SABC will be factually insolvent by end of March if nothing done, at EWN

Get other news reports at the SA Labour News home page