BREAKING. SABC gets another R1.2 billion bailout in the form of the government allowing the commercially insolvent public broadcaster to raise its credit extension cap; producers, Sentech and Safa to be paid urgently.

The commercially insolvent SABC is being given another government bailout of R1.2 billion in the form of the South African government's National Treasury allowing the beleaguered South African public broadcaster, once again hovering on the brink of financial collapse, to increase its credit extension cap.

Independent South African producers, signal distributor Sentech, the South African Football Association (Safa) and a litany of other service providers are collectively owed hundreds of millions of rands by the SABC and will be paid urgently using the money from the enlarged loan extension.

Nomvula Mokonyane, South Africa's minister of communications, revealed in parliament that the SABC is being granted another R1.2 billion bailout, following its bailout of R1.47 billion 2009 in the form of a government-guaranteed loan from Nedbank.

The government is again bailing out the SABC which cannot find anybody to lend it money and that and once again posted its 8th consecutive, annual loss of R622 million for the financial year until the end of March 2018.

The South African government and taxpayers become responsible and carries the burden should the SABC default on the R1.2 billion credit extension.

Nomvula Mokonyane blamed unspecified "historical challenges" for the SABC's financial woes, instead of corruption, mismanagement and a lack of governance, saying "even the Auditor-General has alluded to because the primary challenges of the SABC have to do with historical debt, the commitments that have been made, and of importance issues around content, and quality of that particular content."

Nomvula Mokonyane, speaking in parliament said "as of a day ago, National Treasury has granted consent for the SABC to increase its borrowing limit from the capital markets in line with the public finance management act, and the broadcasting act".

She said "the SABC has been given borrowing powers and a borrowing limit of up to R1.2 billion by National Treasury".

Nomvula Mokonyane said "at this stage the SABC board and management have assured that employees of the broadcaster will continue to receive their salaries as per the norm with without prejudice. Equally suppliers owed by the broadcaster have been in engagements with the SABC and there's been progress in effecting payments to creditors".

"Monies raised through the process consented to by National Treasury will also be used to pay creditors including independent producers, Sentech and the South African Football Association".

"We are quite confident that in line with the payment plan that the SABC has put together, we'll be able to attend to these issues."

"Secondly these funds will be utilised to acquire new content to replenish the current content offering, so as to attract new audiences that's generating commercial renevues, but also bring back home those that have walked away from the SABC."

"As a responsible government we will not allow the SABC to collapse and are committed to providing the SABC board and management with our continued support to ensure that this national asset continues to serve millions of South Africans with knowledge and entertainment".

Nomvula Mokonyane said "working through with the minister of finance we have been able to give the necessary support for the SABC to have an increased borrowing limit".