Friday, October 1, 2010
SABC radio is reporting that the broadcaster has ''failed to meet performance targets'' that was set in the loan guarantee of R1,47 billion to the beleaguered broadcaster. This could spell huge trouble for the SABC since it won't be able to get access to the additional part of the loan it has not yet made use of. Meanwhile the SABC has already made rumblings that it was going to ask the government for an additional loan beyond the R1,47 billion since that would not be enough to help the cash-strapped broadcaster out of its current debt quagmire.
The SABC has however managed to cut its losses for the year from R414 million from the previous year to R851 million.