Mokonyane willing to consider SABC request for govt guarantee

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Communications Minister Nomvula Mokoyane is willing to consider an SABC request for a government guarantee and engage National Treasury if the South African Broadcasting Corporation (SABC) Board requires such an option. This is according to Ministerial Spokesperson Mlimandlela Ndamase.

Ndamase says the R1. 2 billion approval to increase the SABC’s borrowing limit is the current option following a request from the Board to be able to pay the SABC’s creditors.

Ndamase says the current option is different from the option of a government guarantee which is now in the hands of the SABC Board to make a request.

“ Government and the SABC Board have been in engagement. The process that led to the approval  of the increase of the borrowing limits was a process joined by the Minister and the board together and again as per the advice of  Treasury and engagement,-it was found that  it is best to go for the route  increasing the limits. However the SABC still has the option should they require a bank guarantee rather as opposed to what they have now received. The board may take that decision, present it to the minister and the minister would be willing to go  to the Treasury and engage on the best  possible and suitable solution.” Click below for related stories: