The public broadcaster says its current budget “reflects an SABC in financial distress”.
The South African Broadcasting Corporation expects to report a R590 million loss for the current financial year, representing an improvement over the R1 billion loss it reported last year.
“The committee has noted a projection of reduced financial loss from R1.1 billion incurred in the 2023/24 financial year to R500 million by the end of the current financial year,” it said.from Thinus Ferreira, the loss figure is closer to R590 million, and the broadcaster is losing money on SABC2, SABC3, SABC Sport, SABC News, and some SABC radio channels.
While several proposals to rework the SABC’s funding model have been in the spotlight, the broadcaster and government have yet to decide how to proceed. It proposes that an alternative funding model framework only be finalised within three years of the legislation being passed.
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