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Here’s what SABC didn’t tell us about their finances

jamesaguma

Posted By: Shopprice South Africa

The SABC presented a rose-tinted picture of its money business being healthy when it Released 1 its accounts looked over results this week, but the first five months of the current money business year make clear to that the broadcaster is haemorrhaging money at a causing fear rate.Acting Ceo James Aguma and united, as a body affairs manager of business Hlaudi Motsoeneng downplayed a R411-million loss for the money business year that ended on March 31.

They made responsible the loss on the complete money-related down-going event, increasing regular payment to old persons after years of work costs and the weighting of giving (up/over/to) a public public organization sending wide control given to another with little government support.Aguma also claimed that having R881-million in the bank in March and net properties of R2.7-billion meant going moneyless was out of the question.

What he did not say, however, is that matters have became less in value with sudden, surprising in the five months since March.The Sunday Times has got a flat wood for water transportation to be kept secret money business printed materials, including a SABC chief money organization danger committee go to person in authority for July, an income statement for August and an auditor-general’s go to person in authority old August 15, which untrained uncovered the amount of the SABC’s money business time of great trouble, danger.

Here’s what the SABC doesn’t need the public and law-making body to have knowledge of:

>In the past five months, the SABC has lost a further R496-million. This is more than the Total loss for the complete 2015-16 money       business year;

>At the end of July, the SABC only had R245-million in the bank, despite its chief money organization suggestion that it “have to have a money balance of+-R650-million at all times to go on operations”;

>It is got clearly that, by last week, money reserves had dwindled to R200-million, which means that the SABC has burnt through more than R600-million in money in five months;

>Public ratings play or amusement the SABC’s statement of part-owner has declined from 49.3% in March to 47.4% in August against a Target of 52%. Over the same stage in time, e.tv and DStv both grew their public give part; and

>Television licence payment group rates go on to slope down. This is in addition to a R5-billion hole the auditor-general discovered in the SABC’s books.

The auditor-general lambasted the SABC for bad point to place in ship for goods anyone to account for this not regular money used.Starting points said the SABC was keeping secret an even worse money balance by adding about R100-million in forward payments from MultiChoice.

Motsoeneng’s “un-researched and ill-considered” decision to make over-great use of a 90% nearby What is in that part of a full amount which is to be given to anyone “has touched with force the SABC’s doing a play”, said one starting point.In move to questions about this, SABC representative Kaizer Kganyago said that during the results presentation Aguma had “made it clear that the SABC is not moneyless”.

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