SABC appears before Standing Committee on Public Accounts in Parliament

Today’s meeting also follows the SABC's last appearance before the committee in 2010.A number of matters arose today that remained outstanding from the 2010 meeting. The SABC acknowledged that the corporation has not been able to comply fully with all of the recommendations of SCOPA.

This is due to the fact that after those recommendations were made not enough internal processes were in place to ensure all pre-determined objectives were met. When new members of the Board were appointed in June 2011, the Board started improving corporate governance, creating policies, ensuring the appointments of senior leadership, and closing the weaknesses in the audit environment.

During that period, the Board appointed the GCEO, CFO, Group Executive for Radio and Group Executive for Television. All this was done to stabilise the SABC management in order for the SABC to achieve their mandate.

The SABC reiterated before SCOPA that the corporation is stabilising; it has moved from making a loss to posting a profit in the financial year 2011/12. The corporation also has R1 billion cash in the bank and we are ahead of schedule in servicing our Government Guarantee loan.

The SABC has developed a Corporate Strategy, a concrete action to deal with audit matters and other corporate governance matters.

Issued By: Group Communications Media Enquiries: Kaizer Kganyago 082 306 8888

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