By now we know that the SABC lost R411 million during the 2015/2016 financial year, although that doesn’t sound like much when you stack it against the close to R6 billion that SAA squandered over the same period.

It’s sad that we’re almost congratulating the state broadcaster on ‘only’ losing that hefty amount, but when you consider that the tyrannical Hlaudi Motsoeneng is running the show you might have expected a more significant deficit.

Well don’t worry then, because it shouldn’t be long until his utter mismanagement affects the SABC books. That’s because this year promises to be a bumpier ride, with this below from MyBroadband:

• In the past five months, the SABC has lost R496-million, more than its total loss in the last financial year.
• At the end of July, the broadcaster only had R245-million in the bank, far less than treasury’s requirement of R650-million.
• The SABC’s audience ratings declined from 49.3% in March to 47.4% in August, much lower than their target of 52%.
• TV license fee collections are declining.

At the announcement of the losses, SABC CEO James Aguma (above) even joked with those assembled that he was sorry to announce such a small loss, as most gathered believed it would be in the billions.

It remains to be seen what quips he has up his sleeve for when losses do run into the billions (next year), but let’s have a quick look at Hlaudi’s payday:

Former SABC COO Hlaudi Motsoeneng received a big salary increase – of almost half a million rand – from R3,784,000 to R4,197,000 during the 2015/16 financial year.

Motsoeneng was the highest paid executive at the SABC last year, beating even the CEO.

I guess pay isn’t exactly related to performance over at the SABC, and that amount above doesn’t even come close to the bonuses he received last month alone (HERE).

The sad part about the SABC mismanagement, as well as other state-owned enterprises, is that their financial shortcomings redirect funds that are in dire need of being spent elsewhere.

I don’t imagine that’s going to keep Hlaudi awake at night, but then again I don’t think much does.

[source:mybroadband]