SABC’s financial crises could result in their end by March

Parliament have been advised that the SABC’s financial crisis will see it factually insolvent by the end of March.

Chief executive officer Madoda Mxakwe briefed Parliament’s communications committee regarding their turnaround strategy and stated that nothing further could be done.

The SABC is expecting to make a net loss of R568-million this year which is around R281-million more than that forecast in their budget.

The committee has also decided that Rubben Mohlologa be immediately removed as chairperson and councillor for Icasa after his conviction of fraud and money laundering which saw him sentenced to 20 years.