SABC technically insolvent: CFO

The SABC’s Chief Financial Officer Yolande van Biljon says the organisation is technically insolvent.

She says its dire financial position has made it difficult to produce content that people want. This in turn is driving away audiences and with them potential advertisers.

She says several of the SABC’s content suppliers have ceased production because they have not been paid.

She had told the NCOP’s Public Enterprises and Communications Committee that the Corporation is likely to be found to be trading recklessly as it is trading while insolvent.

The SABC is briefing the Committee on its financial situation and some of the human resources issues that impact on its sustainability.