1 minute read
4 Oct 2013
7:53 pm

SABC repays R1bn loan

The SABC has paid off its R1 billion government guaranteed loan to Nedbank, the broadcaster reported on Friday.

FILE PICTURE: SABC's COO Hlaudi Motsoeneng. Picture: Michel Bega

SABC television news reported that the final payment of the loan was made earlier on Friday.

Communications Minister Yunus Carrim congratulated the broadcaster.

“It is very good that the SABC made its deadline… We need now to look at longer term financial sustainability of the SABC.”

The loan was granted in 2009 after the broadcaster reported cash flow problems.