SABC not in the business of profit: Motsoeneng
The SABC's controversial former COO and current Group Executive of Corporate Affairs, Hlaudi Motsoeneng, on Thursday said the public broadcaster is not in the business of profit.
Motsoeneng addressed a press briefing in Auckland Park, minutes after the SABC announced a net loss of R411 million for the 2015/2016 financial year.
SABC Acting CEO James Aguma said a substantial part of the loss is due to unforeseen events of national importance.
"Investment in mandated sports and other events also yielded negative returns. We also had an impact of tax adjustments arising from correction of prior years' financials," Aguma said.
The press briefing comes a day after the ANC in parliament criticised the SABC board for the current state of the public broadcaster.
Motsoeneng, who has been widely criticised in the media for his eccentric comments, told the media the R411 million was not a loss.
"The mandate of the SABC is to inform people, educate them. We are not competing with anyone. If we were supposed to compete, I think the SABC can do very well, but we are not in the business of profit. We are in the business of making sure we service our audience," he said.