Treasury says SABC, SAPO, asked for financial support

Johannesburg – national Treasury on Tuesday said the South African Broadcasting Corporation (SABC) was seeking R1.5-billion in financial support.

It also revealed the Post Office has asked for R4.9-billion to help it through the Covid-19 pandemic.

Treasury was briefing Parliament on the latest at Denel as well, saying the state arms firm faced the risk of being placed under a form of bankruptcy protection called business rescue or even liquidation.

Denel has been struggling to pay salaries this year amid a liquidity crisis aggravated by the pandemic. It is forecast to have had a negative equity position of R3.3-billion as of March this year.


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