The SABC has had difficulty with issues of governance over a few years which affected the organisation’s financial stability. But the public broadcaster says it has a turnaround strategy which will be implemented soon.
A month ago the organisation appointed Madoda Mxakwe as its new Group Chief Executive Officer.
Speaking on Morning Live Mxakwe says the public broadcaster is facing a financial crisis that has lead to some independent contractors not being paid this month.
Mxakwe says the SABC is working on implementing a new diversified funding model to deal with these issues.
“If you look at the evolution of the finances for the past three years, it’s only now that it’s hit crisis point,” he says.
“We have accelerated out plans to ensure that we increase revenue generation. For example, the funding model that we’re into. We want to be more diversified where we can look at other revenue streams. But most importantly, we’re also looking at cost containment measures,” adds Mxakwe.
He says a strong strategic roadmap has been developed as well as a turnaround plan that will help transform the SABC into a viable organisation financially, but also a high performing organisation.