SABC to get R1.1-billion cash injection

The SABC is expected to get the remaining R1.1-billion of its R3.2-billion bailout by the end of next month, national treasury said on Wednesday.

This comes after the SABC board was informed that it would get the bailout in phases — provided that it meets certain conditions as part of its turnaround strategy.

Government allocated R3.2-billion to the SABC in 2019/2020, of which R2.1-billion has been transferred, to enable the broadcaster to pay its bills.

“The conditions included reviewing broadcasting sector policies to respond to advances in technology, costing the developmental mandate and evaluating opportunities for private sector participation.

“The remaining R1.1-billion is expected to be transferred to the SABC by 31 March 2020,” said treasury on Wednesday, during the tabling of the 2020 budget speech.  — SANews