SABC ices finance officials who warned about massive overspending: report
The SABC has placed two senior finance officials on special leave after they were accused of leaking documents to the Sunday Times, the paper reported.
It revealed this week that the public broadcaster intends to ask for a R1.5 billion bailout which economists have warned could trigger a ratings agency downgrade for South Africa.
The Sunday Times said that the SABC has wiped off as much as R500 million from its bank balance over the past three months, citing internal documents.
And citing sources with direct knowledge of the turmoil at the SABC, the paper reported that treasurer Arrie Thomas and chief financial controller Petra Campher were put on special leave this week – accused of leaking documents to the Sunday Times.
The documents, including excerpts of the SABC treasury report and an e-mail Thomas sent to his finance managers, warning them about the broadcaster’s financial crisis. They were not leaked by Thomas or Campher, the paper said.
“Arrie and Petra have been writing a series of requests … to [chief financial officer James Aguma] that the SABC will run out of cash in November,” said a source.
“They are forecasting a shortfall of R350-million to R400-million in TV licence collections by the end of the year and a loss of R1.1-billion to R1.3-billion for next March.”
SABC spokesman Kaizer Kganyago confirmed Thomas and Campher were placed on special leave but declined to provide reasons. “We do not discuss employer-employee issues in the public space.”
Read the full article in the 17 July 2016 edition of the Sunday Times
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