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.

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