The struggling SABC has hardly implemented any of the multiple recommendations from the Auditor General (AG) on improving corporate governance at South Africa's public broadcaster which had to get a R1,47 billion bail-out from the government in the form of a government guaranteed loan 3 years ago.
Meanwhile the SABC is projected to incur a massive net loss of R92 million for the financial year ending in March.
The SABC told parliament's oversight committee, the parliamentary portfolio committee on communications, earlier today that most of the executives responsible for the alleged abuses and fraud, as well as executives tasked to turn the SABC around, have left the SABC.
The SABC chairperson, dr Ben Ngubane who last week referred to the SABC as ''a sinking ship'' during 2009 and 2010, told parliament today that the SABC is not going to be repaying the government's R1,47 billion loan guarantee anytime soon of which the SABC has so far used R1 billion.
Meanwhile the SABC has not met the targets set by the government during the granting of the government loan guarantee. The SABC did not make the targets sets for advertising income, for better content management, and for a reduced head count. The SABC was supposed to trim personnel or so-called ''people cost'' with R336 million but has failed to do so.
The SABC also wants to renegotiate the terms of the loan agreement the broadcaster agreed to with the government in 2009 and which is provided by Nedbank. The SABC's chief financial officer, Lerato Mage, told parliament that the terms of the government guaranteed loan agreement ''renders our balance sheet inflexible''.
Sully Motsweni, head of compliance and monitoring at the SABC and chair of the AG task team, told the parliamentary committee today that root problems that brought the SABC to the brink of collapse in 2009 are ''still prevalent'' at the public broadcaster.
The next report to parliament by the SABC is scheduled for June.
