Dear South Africans, SABC has presented its 2015/2016 financial statement and the monetary figures therein are on the heartbreaking side.
The public broadcaster’s acting CEO, James Aguma presented the corporation’s financial report in Auckland Park.
He announced that the South African Broadcasting Corporation bagged a loss of R411 million for the 2015/16 financial year. That, represent an increase because the Corporation reported losses of about R400 million in the previous financial year.
Among other things, Aguma indicate that the decrees in government’s subsidy was one of the factors that caused the loss.
Specifying that SABC received less than 3 percent of funding from the state, Aguma argued that the Broadcasting Corporation made profit in 2013 but added that the auditor general flagged a disclaimer on the Corporation’s financials.
Also, he divulged that SABC recorded and outstanding performance in clearing three qualification issues for irregular, fruitless and wasteful expenditure.
The Democratic Alliance party reacted to the SABC’s 2015/16 financial year loss lamenting that the total losses the outlet has recorded in the past two years under the watch of Communications Minister, Faith Muthambi, and “disgraced COO” Hlaudi Motsoeneng, is R805 million.
According to the opposition party, it’s possible for the SABC to be managed profitably.
“It has done so in the past, there is no reason it cannot continue to do so. This requires proper financial management and the right leadership with the requisite skills to steer the public broadcaster from the red into the black,” DA stated.
The party said it will conduct a thorough analysis of the SABC’s Annual Report once it’s tabled in Parliament.
“We need to know how much the SABC has wasted, which contracts were approved without going to tender, how much its top executive were paid in bonuses and how much was spent on litigation.”
Recent reports circulated that Motsoeneng was paid a R11.4 million bonus for handling the controversial R500m SABC deal with MultiChoice.
As related, the amount was just the initial payment. He would receive a total of R33 million over three years.