BREAKING. SABC's projected loss for the year MUCH (MUCH!) bigger.

Ms. Irene Charnley, acting chairperson of the SABC board told parliament yesterday that the SABC's projected loss for the latest financial year will be MUCH bigger than the R790 million previously anticipated.

*The SABC is now on track (or off the track, if you will) to make a MASSIVE R910 MILLION loss for the year 2008/2009.

The government should TODAY grant an securities application to the SABC of R,473 BILLION so that the public broadcaster can continue to borrow money to fund operational costs and activities.

Also, Irene told parliament that ONLY R58 MILLION of the money lost through corruption, mismanagement, unauthorized expenditure and waste will be recoverable.