Not so miraculous after all, H

Not so miraculous after all, Hlaudi: SABC posts R411m net loss for 2015/16

Another year, another dip in financial results for the embattled public broadcaster.

Not so miraculous after all, H

Despite Hlaudi Motsoeneng trying convince everyone he makes miracles happen, and insisting there’ll be loads of parties now that he’s back, the latest financial results from the SABC is probably more in tune with his claim that he “causes havoc wherever he goes”.

Last week it was reported that the SABC blamed South Africans’ failure to pay their TV licences for last year’s loss and you can probably expect that excuse again after the latest financial results were released on Thursday.

The public broadcaster’s acting CEO James Aguma presented its financials in Auckland Park on Thursday.

The cash balance has also dipped from R1017bn last year to R881m.

Agama said amongst other things, “expenditure incurred on unforeseen events of national interest, investment in mandated sports and other events yielding negative returns, as well as less than 3% funding from government” all contributed to the loss.

Also read:

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