SABC achieves unqualified financial audit for 2023/24 in 14 years ...
The South African Broadcasting Corporation (SABC) has achieved an unqualified financial audit for the 2023/24 financial year.
The broadcaster’s top brass presented the annual report and financial statements for the year under review to Parliament’s Communications and Digital Technologies Committee.
A loss of just under R200 million was reported during this reporting period, compared to a loss of over R1 billion for the previous financial year.
SABC GCEO Nomsa Chabeli says, “Good news, privilege to say SABC for the financial year 2024 has an unqualified audit, which is the first time in 14 years. We have secured that audit opinion. And that marks a significant milestone that demonstrates our commitment to transparency and sound financial management.”
The unfunded public mandate remains a big headache. SABC CFO Yolande van Biljon says, “The public mandate continues to cost organisation about R1.7 billion per annum of which unfunded portion is as much as R800 million.
Members of the committee had high praise for the entity, ANC MP Shaik Subrathie says, “Phenomenal Improvement by SABC. Reducing Loss. Certainly Doing Something Right.”
SABC Bill
The SABC bill – an attempt to change the funding model of among others reliance on TV licence fees – has been in the pipeline for nearly 16 years.
Deputy Minister of Communications and Digital Technologies Mondli Gungubele says, “The SABC Bill needs to be fast-tracked, because the current methodology of actually procuring these fees, SABC has already stated today that R800 million is not funded. A lot is done on the policy side that needs to be done. And I want to say I really respect the leadership of SABC that in spite of these difficulties how are they keeping the institution afloat? How reducing losses and how even reducing the gap that constitutes technical insolvency.”
Van Biljon adds that material uncertainty continues to threaten the Going Concern of the SABC, but that they are managing this risk.
