Pravin, do not extend R1.5 bn guarantee to Hlaudi; place the SABC under administration
Date: 10 July 2016
The DA calls on Finance Minister Pravin Gordhan and Treasury to not extend their R1.5 billion guarantee to the SABC, but instead place it under administration.
Reports that the SABC's finances have deteriorated so badly it will be forced to approach the banks for a loan with a National Treasury guarantee, should ring serious alarm bells for Minister Gordhan.
The SABC should not need bailing out - it could be profitable, like many broadcasters in South Africa are, if run properly.
It is clear that under the tenure of Hlaudi Motsoeneng, CFO and Acting CEO James Aguma, and Communications Minister Faith Muthambi, the SABC is being run into the ground. Motsoeneng even overruled the decision by a review panel and awarded a R167 million contract to President Jacob Zuma’s daughter, Gugu Zuma-Ncube.