The SABC, which clocked up irregular expenditure of over R2 billion in the past financial year, said its finances were generally on the mend after suffering billions in losses in previous years.
CAPE TOWN - SABC CEO Madoda Mxakwe said that the public broadcaster was moving even closer to being profitable.The SABC's leadership has been questioned by MPs about its qualified audit findings and its annual performance.Mxakwe told MPs that despite operating in a difficult environment, they had managed to reduce net losses.
"The previous fiscal, two fiscals ago, we had over R500 million. Now we are actually standing at R201 million, which is a progressive reduction in terms of net losses, indicating the degree to which we are now moving even closer to breaking even and being profitable," Mxakwe said. He said that the reason for the net loss of R200 million was because of the acquisition of sports rights for the 2024 Paris Olympic Games at just over R100 million.
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