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SABC seeks ZAR 3.2 bln state guarantee to avoid shutdown

Tuesday 18 June 2019 | 12:10 CET | News
The South African broadcaster SABC has applied to the government for a ZAR 3.2 billion guarantee to help it raise money from lenders, the Sunday Times reports. The broadcaster is saddled with large debts to signal distributors and pay-TV business MultiChoice, SABC CFO Yolandi van Biljon said in a television interview reported by Fin24. Van Biljon said the SABC has a debt of over ZAR 1 billion due to creditors, and has to play a fine balancing act between its various priorities. "It's been like that for the last eight to nine months," she said.

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Categories: Broadcast & Satellite
Companies: MultiChoice
Countries: South Africa
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