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SABC will repay loan soon, says Pule

May 21 2013 11:26

Cape Town - The SABC will repay its government guaranteed loan of R1bn in full within the next few months, Communications Minister Dina Pule said on Tuesday.

Introducing her budget vote debate in the National Assembly, Pule said the state broadcaster was accelerating its pay back plan.

"The SABC plans to pay the outstanding balance of R220m within four months," she said.

The R1bn Nedbank loan was granted in 2009 after the broadcaster reported cash flow problems.

Pule said the SABC would be able to meet its obligations in terms of digital terrestrial television (DTT) - migrating from analogue to digital broadcasting.

"The SABC can immediately migrate these three existing channels to the DTT platform and launch new channels in due course," she said.

However, governance arrangements at the broadcaster were still bothering the minister.

"I will be consulting with the portfolio committee on communications to explore an urgent review and amendment to the Broadcasting Act," she said.

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