SABC Reports Significant Net Loss Amidst Improvements

In the financial year 2022/23, the South African Broadcasting Corporation (SABC) reported a net loss of R1.3 billion. This loss is R949 million more than the losses recorded in the previous financial year.

The SABC is set to present its financial results in Parliament next month.

Speaking to SABC News following the public broadcaster’s Annual General Meeting (AGM) today, Ramukumba stated that the organization has made significant strides in reducing its net loss.

“One can say with confidence that we’ve got good news,” Ramukumba said. “Both in terms of overall performance and in significantly improving our losses. We are not where we want to be, but we are pleased with our progress.”

On the topic of potential layoffs within the organization, Ramukumba addressed rumors of retrenchments at the SABC. “There is no such thing. I can categorically state that the board has never engaged in discussions regarding this issue,” he remarked. “We are in a position where our focus is on improving the SABC, and retrenchments are not on the table.”

He added that the dedication of the board, management, and staff is concentrated on making the SABC a successful entity for its employees and stakeholders, including viewers and listeners.