– SABC plans to reduce thousands of jobs to reduce financial losses
– Meanwhile, the Communications Minister has revealed that top 3 executives collect 12.1 million euros annually
– Chief Executive R5.1m, COF looking for R4m and CFO looking for R3m. President Cyril Ramaphosa is looking for R3.6m a year
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While the South African Broadcasting Corporation is approaching the collapse, its three top executives pay $ 12.1 million a year.
On Thursday, Nomvula Mokonyane, the Communications Minister, confirmed the first three executives.
The chief executive is looking for R5.1m alone while the COO is looking for R4m and looking for CFO R3m, but Mokonyane says it was considerably less than the salary of former drivers. President Cyril Ramaphosa is looking for R3.6m a year.
According to the minister, the leaders' packages accounted for only 1.1% of SABC's total wage costs.
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SowetanLIVE reported that Mokonyane had replied to the National Council of the Pacific about the state of SABC.
Meanwhile, one Wednesday, CEO Madoda Mxakwe told reporters a media briefing that the nationwide broadcaster had netted a loss for the R622m for the 2017/18 financial year. According to Mzakwe, this has made SABC technically insolvent and unable to meet its financial responsibilities.
In 2016/17 SABC lost the R997m. In the financial year 2015/16, the broadcaster reached 411 million losses.
Hlaudi Motsoeneng, the co-ordinated COO 90% local policy has had an impact on the financial situation. The temporary body has since completed its policy.
In July, Briefly.co.za reported that the controversial former Chief Operating Officer had refused claims that the company has paid over the R300 million from the lost advertising revenue.
Last week, the broadcaster found out that it would carry out a restructuring process, including a reduction in the number of jobs.
During the announcement, according to the SABC Board of Governors, 1,000 permanent staff will be withdrawn in the east, while about 1,200 freelance persons may be affected.
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However, according to Mokonyane, the SABC migration plan can not be based on blocking employees, but on a full review of business activity and on the financing model.
He said Tito Mboweni, the finance minister, agreed to meet in the next three weeks and take part in it and SABC in the Broadcasting State and in the Round Plan. They hope to find a solution to the financial challenges facing SABC.
"To date, the shareholder has not contributed to the SABC's board of directors and management being in the process of following the correction process."
Mokonyane has remained to respond to the SABC's current situation.
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Source: Briefly.co.za
