State debt to balloon as some SOEs continue to be rescued by the government

SOUTH AFRICA - Report 07 Oct 2019 by Iraj Abedian

The communications ministry announced on October 4 that the South African Broadcasting Corporation (SABC) would receive a bailout of R2.1 billion from the National Treasury (NT). This follows more than two years of the SABC’s struggle to secure funds from the NT, and the funding should therefore help ease its financial problems. The cash-strapped national broadcaster had urgently requested R3.2 billion, but only got sixty-six percent of the amount as the government awaits the SABC’s fulfilling certain pre-conditions (including identifying which assets to sell) before being paid the full amount.

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