SABC asks gov for bailout worth billions of rands

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The SABC has put in a request for government to help it get out of the red with a financial bailout worth billions.

This is according to new Minister of Communications, Ayanda Dlodlo, who today confirmed this during the Post Cabinet meeting briefing in Parliament.

In the 2015/16 financial, the SABC reported a R411 million operating loss under the leadership of CEO James Aguma and so-called puppet master, Hlaudi Motsoeneng.

By the end of the 4th quarter of the past financial year the SABC suffered a R509 million loss, Dlodlo revealed before the Portfolio Committee on Communications in Parliament yesterday.

When asked about the bailout, Dlodlo confirmed that the public broadcaster had approached her department and requested a bailout of billions of rand. She didn’t mention the exact amount however.

Dlodlo’s department will be meeting the National Treasury to look for a lasting solution to SABC stability, however Treasury wants the SABC to explore ways at becoming financially sustainable before seeking funding.