Cash-starved SABC wants bank loan of R1.5bn
10 July 2016 - 02:02
The SABC plans to ask the banks for a R1.5-billion bail-out. This would force the Communications Department to approach the National Treasury to guarantee the loan, which economists say could trigger a ratings agency downgrade for South Africa.Internal documents obtained by the Sunday Times reveal that more than R500-million has been wiped off the SABC's bank balance in the past three months.
This article is reserved for Sunday Times subscribers.
A subscription gives you full digital access to all Sunday Times content.
Please visit SundayTimes.co.za in your desktop to view our latest subscription options.
Already subscribed? Simply sign in below.
Sign InQuestions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.