The South African Broadcasting Corporation (SABC) Board is expected to present its handover report to Parliament’s Communications Committee (PCC) Tuesday afternoon. The Board has only four days before its five-year term of office ends.
The SABC is one of the entities under the Department of Communications and Digital Technologies that are presenting their financial statements and annual reports to the Portfolio Committee on Tuesday.
The public broadcaster is the last entity to present later this afternoon. The Committee says the board will present the corporation’s turnaround strategy.
The meeting between the SABC and the Committee is expected to take much longer. This comes as the Board will present its handover report to the committee. However, the board will be back with the NCOP’s Select Committee on Wednesday to also present the turnaround plan, focusing mainly on its financial sustainability and profitability.
The SABC board is expected to present its hand-over report to Parliament’s Communications Committee this afternoon. The board has only four days before its five-year term of office ends. #sabcnews
— SAfm news (@SAfmnews) October 11, 2022
Meanwhile, the SABC’s 2021/22 Annual Report was tabled in Parliament Monday last week. The report showed the SABC’s net loss improved by R329 million (62%) compared to 2020/21, resulting in a 543 million rand (73%) improvement in net loss over the past five years.
Revenue grew by 2% year-on-year as a result of the marginal increase in sponsorship revenue. The improvement in net loss was negatively impacted by the acquisition of sports rights of the Olympics, which accounts for 58% of the net loss.
