South African Broadcasting Corporation (SABC) can now sigh in relief after Communications Minister Stella Ndabeni-Abrahams announced that the cash-strapped broadcaster will receive a bailout in the coming days.
“To this end, working with the National Treasury, we will in the next 10 days provide a portion of the interim relieve and the remaining balance within the next 45 days. However, this is subject to the SABC meeting all the set conditions and requirements,” announced Ndabeni on Wednesday during her budget vote speech.
On Wednesday, the portfolio committee on communications gave Ndabeni two months to finalize an enhanced turnaround strategy that’ll secure the public broadcaster bailouts.
The committee also urged Ndabeni to continue engaging in meetings with the broadcaster and Treasury for solutions that will tackle and bring an end to the cash-strapped broadcaster’s crisis.
There could also be a light at the end of the tunnel quite soon amid the broadcaster expressing its confidence in its new turnaround strategy.
“We’re quite confident… our management developed a quite robust strategic roadmap and turnaround strategy which had clearly outlined its plans.
“And for us, we believe that our turnaround strategy has worked for the organisation thus as we’ve been able to realise some big saves,” said Vuyo Mthembu, SABC spokesperson on Tuesday.