SABC bailout to come in handy: Makhathini

SABC News Makhathini - SABC bailout to come in handy: Makhathini

The South African Broadcasting Corporation’s (SABC) Board Chairperson, Bongumusa Makhathini, says the bailout from Treasury will come in handy for the public broadcaster’s road to recovery.

Communications Minister Stella Ndabeni-Abrahams has announced that the SABC will receive only R2.1 billion on Monday until the public broadcaster fully meets all the conditions of the bailout of R3.2 billion.

Out of the eight pre-conditions, the SABC has fully met five, partially met two, whilst one which required the SABC to develop a comprehensive private sector participation strategy has not been met.

Makhathini says all stakeholders will meet next week in a bid to fulfil the outstanding requirements.

“We’ve been looking and waiting for this money. We really need it to fund our turnaround strategy and take care of things that we haven’t been able to take care of, talking of the people that we owe, maintenance issues and also buying compelling content. So that’s exciting news and I think we need to celebrate the good news first.”

“We will have a meeting where the National Treasury, the DOC and the SABC will sit in one room and will make sure that we have a similar understanding on what is expected of us because our assessment has been communicated before,” says Makhathini.

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