SABC bailout conditional, says Communications Minister

The SABC will receive a bailout to rescue it from financial ruin. Courtesy #DStv403

CAPE TOWN - The SABC will receive a bailout to rescue it from financial ruin.

Communications Minister Stella Ndabeni-Abrahams says she is working with Treasury to ensure the SABC remains afloat.

However, Ndabeni-Abrahams says the bailout isn't unconditional.

"Finally, government is actively looking at strengthening the South African Broadcasting Corporation.

READ: 'Day Zero' looming for SABC

"As we reported in the Portfolio Committee last week, we continue to engage with National Treasury on a lasting financial solution for the public broadcaster," Ndabeni-Abrahams said.

"To this end, working with the National Treasury, we will in the next 10 days provide a portion of the interim relief and the remaining balance within the next 45 days. However, this is subject to the SABC meeting all the set conditions and requirements.

"In this regard, we will work with the Minister of Finance towards an institutional mechanism to support the turnaround effort, and this includes the appointment of the CRO."

Debate on Vote 32 & 3: Telecommunications and Postal Services & Communications

Source
eNCA