Treasury Provides SABC With Interim Relief

Stella Ndabeni Abrahams - Treasury Provides SABC With Interim Relief

Communications Minister Stella Ndabeni-Abrahams has revealed that National Treasury has agreed to provide the South African Broadcasting Corporation (SABC) with urgent interim financial relief.

Ndabeni-Abrahams made the announcement to Parliament’s communications committee on Tuesday.

“We just needed assurance that by the end of the month, there’ll be [some] relief. In terms of how much, they are working on those nitty gritties.”

SABC CEO Madoda Mxakwe warned that the public broadcaster was teetering on the edge of bankruptcy and likely to go broke by the end of March if nothing was done.

Ndabeni-Abrahams made it clear that the agreement with Treasury is for interim relief and not for the full R6.8 billion bailout the SABC said it needed.

EWN

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