SABC cash flow depleted: CEO

sabc cash flow depleted ceo - SABC cash flow depleted: CEO

SABC News Madoda Mxakwe - SABC cash flow depleted: CEO

The SABC says it will take a while before it is financially stable, despite various cost-cutting measures.

Executives from the public broadcaster are appearing in Parliament before the Communications Committee over its turnaround strategy.

SABC CEO Madoda Mxakwe says the cash flow is depleted at the public broadcaster and they have been engaging with the Department of Communications.

He says, “We have actually implemented across the organisation cost cutting measures. The biggest challenge is that our cost base is still high.”

“We have also been working with the Department of Communications in terms of government funding. Honourable members, I think I need to be honest that our cash flow is depleted and we cannot honour payments to service providers, we cannot adhere to all our committed contracts and we cannot even commission local content production. Several content providers of key programmes actually refuse to engage with us.”

 

The post SABC cash flow depleted: CEO appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

[addthis tool=addthis_relatedposts_inline]

Leave a Reply

Your email address will not be published. Required fields are marked *

*