SABC board confident it can survive without bailout but wants 'government guarantee'
JOHANNESBURG - The South African Broadcasting Corporation (SABC) board is confident that the public broadcaster can survive without another government bailout.
But the struggling entity says it can't survive without a "government guarantee", which it requires when it must go out to the market to do business with other companies and institutions.
The SABC has also called for the speedy finalisation of the SABC Bill to address the company's funding challenges by creating a new funding model.
The board and management briefed Parliament's finance watchdog, SCOPA, on Wednesday about its audit outcomes and performance.
Members of Parliament also questioned its financial sustainability and whether it will need another bailout, after receiving just more than R3 billion two years ago.
Deputy chairperson, Nomvuyiso Batyi, said the SABC can survive without a bailout, but will need a guarantee from the government as the sole shareholder.
READ: SABC requests broader concessions from Treasury to implement sections of PFMA
"I need to contexualise that, yes, the SABC can survive without a bailout, however, this needs to be contexualised that any person who runs a company, a shareholder has a responsibility to plough back into that company."
Group CEO Nomsa Chabeli said they are pushing for the passing of the SABC Bill because a new funding model has become urgent.
"The current funding of the SABC is unsustainable. It would be remiss of me not to say that," said Chabeli.
Chabeli said what the SABC is asking for is not another bailout, but to be properly funded to deliver on its public mandate.
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