SABC posts R411m net loss
29 September 2016
Johannesburg – The SABC reported a R411m net loss for the 2015/2016 financial year on Thursday, an increase from the previous year.
“I know some expected the losses to be in the billions. I am sorry to disappoint," the group's acting chief executive officer James Aguma told reporters.
In the 2014/2015 financial year, it reported a R395m loss.
Aguma attributed the current loss to the fact that the SABC had to cover events of national importance, including former president Nelson Mandela’s funeral, and the Rio Olympics.