Finance Minister, Tito Mboweni announced that the SABC will get R3.2 billion.
The minister announced plans to recapitalise the SABC, Eskom, Denel and South African Airways (SAA).
Mboweni announced that Eskom will get R59 billion over the next two financial years and the SABC will get R3.2 billion.
“Once this bill is passed this afternoon. We will be in a position to use Contingency Reserve Account to provide support to the SABC, to Denel, to South African Airways. But this support the SABC requests of R3.2 billion we will not make that just available tomorrow. It would be a mistake. We would release in chunks as certain conditions are met to make sure there’s progress in improving the organisation,” Mboweni explains.
The Finance Minister says he will announce the appointment of Chief Risk Officers for the entities on Wednesday.
source: SABC News