by Thinus Ferreira
South Africa's public broadcaster is set to record yet another annual loss of R590 million for the 2023/2024 financial year, noting in documents that "the current budget reflects an SABC in financial distress".
The SABC's R590 million loss will be lower than the over R1.1 billion loss it made in the previous year.
The SABC is making a loss on SABC2, SABC3, SABC Sport, SABC News, as well as certain SABC radio channels.
The SABC briefed parliament's portfolio committee on communications and digital technologies on Tuesday.
In documents the embattled public broadcaster says its "current budget reflects an SABC in financial distress".
The SABC only projects to "returning to profitability in financial year 2027" which will be for the financial year ending at the end of March 2028, when it expects to make a R907 million profit.
The SABC has been loss-making since 2014/2015.
SABC+ is expected to reach 500 000 users by the end of the financial year after the broadcaster restarted and reset for a third time to begin a user-base from scratch.
According to the SABC, SABC+ has not been monetised yet.
