The South African Broadcasting Corporation (SABC) has obtained 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 Committee on Communications and Digital Technologies.
A loss of just under R200 million was reported for this reporting period, compared to a loss of over R1 billion for the previous financial year.
SABC CEO Nomsa Chabeli says: “Good news, it is a privilege to say that the SABC for the 2024 financial year has an unqualified audit, which is the first time in 14 years. We have obtained 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 major headache. SABC chief financial officer Yolande van Biljon said: “The public mandate continues to cost the organization about R1.7 billion a year, of which the unfunded portion amounts to R800 million.
Committee members praised the body. African National Congress MP Shaik Subrathie said: “The SABC has made a phenomenal improvement. It is cutting losses. It is certainly doing something right.”
SABC Bill The SABC Bill, an attempt to change the funding model which, among other things, relies on television license fees, has been in the pipeline for almost 16 years.
Deputy Minister for Communications and Digital Technologies Mondli Gungubele said: “The SABC Bill needs to be passed quickly, because of the current methodology for obtaining these fees, the SABC has already stated today that R800 million has not been funded. “A lot has been done on the political side that needs to be done. And I want to say that I respect the leadership of the SABC because despite these difficulties, how are they keeping the institution afloat? How are they reducing losses and even closing the gap that constitutes technical insolvency?” Van Biljon adds that material uncertainty continues to threaten the continuity of the SABC, but that they are managing this risk.
