‘Insolvent’ SABC suffers R192m loss

The SABC has revealed it is technically insolvent, as it suffered a loss, before interest and tax, of R192 million.

- Tshehla Cornelius Koteli

The public broadcaster revealed this while tabling its 2023-24 annual report in parliament.

SABC's chief financial officer Yolande van Biljon said she is uncertain if the broadcaster will be able to meet its financial obligations in the next 12 months.

Van Biljon added that its audience share has been hurt by more and more South Africans using global streaming platforms.

“A decline in audience share is illustrated by the R2 billion decline in revenue since fiscal year 2016, while revenue year-on-year has remained mostly flat since fiscal year 2021,” she said.