SABC gets partial bailout

SABC Headquarters

Communications Minister, Stella Ndabeni Abrahams has just announced that the SABC will be receiving two-point-one billion rand on Monday as part of the three-point-two billion rand bail out.

Ndabeni-Abrahams says of the eight preconditions by National Treasury, the SABC has fully met five, partially met two, whilst one has not been.

Communications Minister Stella Ndabeni-Abrahams announcing SABC funding

“It is noted that the SABC turnaround requires more than the R3.2 billion short-term funding. However, the public broadcaster was required to submit a fit-for-purpose turnaround plan which would respond to short – medium and long-term requirements”, said Ndabeni-Abrahams.

source: sabc & sa gov