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Communications Minister to brief media on SABC funding

SABC News Stella Ndabeni Abrahams  - Communications Minister to brief media on SABC funding

Communications Minister Stella Ndabeni-Abrahams is on Friday expected to brief the media on the SABC’s funding allocation from the National Treasury.

The public broadcaster has applied for a R3.2 billion bailout, but government has set stringent conditions before the money is released.

The conditions include that the Public Broadcaster submit a list of identified initiatives for revenue enhancement and cost-cutting initiatives, conduct a thorough investigation into the cause of its financial collapse, produce separate financial reporting for its public and commercial broadcasting services, and also identify non-core assets for sale.

Treasury agreed to provide the SABC with interim financial relief in March to prevent the broadcaster from collapsing.

The SABC has been struggling to pay its creditors. It was declared technically insolvent at the end of January 2019.

In September, Ndabeni-Abrahams said, “the SABC has managed to do all the things that we spoke about which therefore qualifies them for a certain amount that they are gonna be getting”.

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