Friday, December 18, 2009

SABC loses R910m: report





We've posted so many articles on ILSA about the Parastatal stuff ups in SA, it's getting a bit like shooting fish in a barrel. But this latest report on the SABC, from a so called independent auditor, absolutely reeks of soft peddling and blind eye turning, I just had to post it...

The SABC's audited financial statements reflect a loss of R910 million for the 2008/2009 financial year.

The loss could not only be blamed on the economic situation, chairperson of the interim board Irene Charnley said in a statement (what else could it be attributed to, I wonder?)

"The economic downturn inevitably impacted on the SABC's revenue, however it would be disingenuous to blame this alone for the results. (oh stop obfuscating, just say it, blacks are in charge and you don’t know what else to blame)

The very public and sustained battles at a leadership level (ANC connected cronies fighting amongst each other), for example, undoubtedly also contributed towards inadequate management of revenue and expenditure." (Go on, just say it, dammit!)

The SABC's annual report and audited financial statements ending 31 March 2009 were submitted to Parliament on Thursday. Revenue increased 0.9 percent (from R4.705m in 2008 to R4.746m in 2009) while expenditure increased 19 percent. (BMW or Mercedes?)

According to the chief financial officer's statement in the report, other problems that negatively impacted on revenue included "schedule instability" (African time?) and an increase in discounts offered to clients and agencies. (nudge, nudge, wink wink)

Charnley also noted the statements reflected a payment by the previous board of R6.7 million to former chief executive officer Dali Mpofu (Message from Dali Mpofu: “f*ck you very much!)

External auditors gave the SABC a qualified report saying: "The director's report gives details of the auditor general's special investigation on procurement, fruitless and wasteful expenditure and non-compliance with company policies and indicates that the interim board is in the process of taking the appropriate action in relation to the allegations.(babblespeak!)

In the meanwhile, we are unable (or unwilling) to determine whether the various allegations (facts) and other matters that are still being investigated (swept under the carpet) have an impact on the financial position (There’s a hole here the size of Arkansas).... as disclosed in the financial statements.

We are also unable (scratch unwilling, it’s a HUGE f*ck up that we have no hope of uncovering) to determine whether the disclosure of fruitless and wasteful and irregular expenditure is complete (there’s lots more coming sweeties)..."

Charnley emphasised that the SABC's positive achievements should not be overlooked. (So what are these achievements? Go on, where’s the list? Hellooooo?)

"Notwithstanding the corporate governance (corporate governance my royal arse!) and financial challenges the corporation has faced, on-air and off-air staff continued day after day, hour after hour to ensure programmes went out on radio and television, keeping millions of South Africans informed. (slack jawed and brainless)"

Charnley said the process of fixing the SABC's problems would take time, leadership and commitment (an equation for infinity)

"There are no quick fixes to a crisis of this magnitude." (Agreed)

2 Opinion(s):

John G Kerlen said...

Yes, also the maths doesn't add up either, when I wrote a similar post on my blog I came across a news story about the government giving SABC R1,5 billioon bail out. Now I may have misunderstood to a degree, but even after this bail out they lost almost a billion bucks? WTF are they doing in that place?

Oh never mind that doesn;'t need answering :-)

h said...

It's plain and simple... theft on a massive scale. Those that pay taxes in SA and continue to support (whether they like it or not) the corrupt ANC cartel are merely propping them up and allowing them to continue stealing.

Like i have said before, if you are white and can leave then you should do the right thing for your family and for South Africa and go. Staying means you indirectly keep feeding this pig called the tripartheid alliance (crime cartel). I left because i was sick and tired of my money ending up in the pockets of the members of the cartel.

It bothered me when i went to buy food. it bothered me when i filled up with fuel. Everything bothered me because i knew the 14% VAT i was paying was going where i knew it would be stolen. It bothered me running my business and paying taxes. It bothered me paying personal income tax. It bothered me so much i left.

However, i don't think many whites in SA even think of this when they spend their hard-earned money, so the theft will just continue and the tax payers will just continue to be raped. South Africa sure does look good to the crime cartel for the foreseeable future with whitey paying for the ongoing party.