The South African Broadcasting Corporation (SABC) said today it has requested ZAR7.3 billion (US$770.3 million) from Dina Pule, communications minister, and expects the funds to be paid out over the course of the next three years.
According to the broadcaster, the funds will not to be considered as a bailout because they are going to be used for South Africa’s digital migration and next year’s general elections.
Eye Witness News reported the SABC had already received an approximate ZAR140 million (US$15.4 million), saying it is not unusual for the Department of Communications (DoC) to finance their capital projects.
Kaizer Kganyago, spokesperson for the SABC, told Eye Witness News reports over the weekend indicating the broadcaster was suffering financially was misleading.
“What is written in that article is ridiculous. The SABC is in a good financial position. We even paid in advance the Nedbank loan that we had,” he said.
