The Companies and Intellectual Property Commission (CIPC) has issued a notice to the SABC asking the broadcaster to explain why it is recklessly running an insolvent business.
According to reports, the SABC’s liabilities exceed the assets by R1,8 billion and short term liabilities can no longer be met.
The notice may mean that the SABC is placed under business rescue or even closed if CIPC is not satisfied with a broadcaster’s report.
The pride of the old SABC has turned into one of the biggest embarrassments for the country’s image abroad.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
