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‘SABC will have to work towards financial sustainability’

SABC News sabc building  - ‘SABC will have to work towards financial sustainability’

The SABC’s Chief Financial Officer (CFO) says despite the public broadcaster receiving a cash injection from government, the public broadcaster will have to work towards financial sustainability.

Yolande van Biljon was speaking after the SABC received its first injection of R2.1 billion from the National Treasury.

Van Biljon says the money is to be used for settling outstanding debts, investing in new content as well as upgrading and maintaining the public broadcaster’s technology and infrastructure.

“We have certainly committed to ensure that the money is spent exactly for what we have received. I do believe that this allows us to start a new future in a way. Not many organisations get a chance to wipe the slate clean and to be able to start its new journey afresh, and we have been given that opportunity. I think there is a lot of work to be done. We need everyone in the organisation to pull together because we are not where we are supposed to be. We are supposed to be financially sustainable and independent,” says Van Biljon.

Van Biljon says any move that may impact SABC’s employees will be done in a responsible, logical and prudent manner.

“Our payroll is one of our main expense items. We have for the past year and we have again committed in our updated turnaround plan to look carefully at all our expenditure drivers. We will be looking at the payroll but we will do so in a responsible and prudent manner following best practices in order to reduce it if necessary in a logical and sympathetic manner,” says Van Biljon.

 

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