The South African Broadcasting Corporation (SABC) says it is not able to fully implement its turnaround strategy because it has still not received the financial injection it requires from government.
Government however insists that the public broadcaster has to meet a stringent set of conditions before the money can be released.
These include identifying initiatives for revenue enhancement, producing separate financial reports for its public and commercial services as well as identifying non-core assets for sale.
The SABC CEO Madoda Mxakwe says while they are going ahead with efforts to stabilise the organisation’s finances, it will take about two years after they receive the funds for the strategy to be fully implemented.
“Like any strong strategy, what is really needed is the capital injection for it to be successful. We had said earlier on that we developed and implemented the strategies starting last July. So far we’ve been able to ensure that we drive revenue, reduce costs and deal with the inefficiencies in the system. So I would say like any solid turnaround strategy would need at least between 18 to 24 months,” says Mxakwe.
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