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Finance Minister turns down SABC government guarantee request: Report

SABC News Building SABC - Finance Minister turns down SABC government guarantee request: Report

Finance Minister Tito Mboweni has reportedly declined to give the cash-strapped SABC a much-needed government guarantee.

News website, Times live reports that Mboweni relayed his decision in a letter to Communications Minister Stella Ndabeni-Abrahams late last month.

The cash strapped public broadcaster has prioritised salaries as it struggles with a mountain of debt following what analysts say are years of mismanagement.

Mboweni reportedly cites government’s fiscal constraints and that it cannot offer bailouts unless the entity is financially viable.

Mboweni reportedly expressed concerns about the SABC’s high cost structure – including its salary bill.

[Watch] Mboweni turns down SABC’s request for government guarantee

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