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BusinessLive reports that the SA Broadcasting Corporation (SABC) is on the brink of collapse and warned on Tuesday that it could be forced to go off the air as soon as “tomorrow” unless the government came to its rescue soon.
The national broadcaster also said it could not guarantee it would be able to pay its employees’ salaries in the months ahead. The state-owned corporation has requested a R3.2bn government guarantee to stay afloat, but its bid for funding has so far been unsuccessful. It is saddled with crippling debt of close to R2bn which is due, a massive infrastructure maintenance backlog, and a huge and unsustainable wage bill. It spends more than R3bn a year on the salaries of more than 3,000 permanent employees. SABC CFO Yolandi van Biljon said on Monday: “Every month it’s a balancing act between the different priorities we have. We do prioritise salaries, but in the process we have to balance between the critical operational requirements, content, and salaries on an ongoing basis and it remains uncertain until the very last moment. It has been the case for the last eight or nine months, but it has been progressively worsening in the last few months.”
- Read the full original of Bekezela Phakathi’s report in the above regard at BusinessLive
Get other news reports at the SA Labour News home page