National Treasury request financial support

Is is reported that National Treasury on Tuesday said the South African Broadcasting Corporation (SABC) was looking for R1.5 billion in budgetary help.

It also revealed the Post Office had asked for R4.9 billion to help it through the COVID-19 pandemic.

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Treasury briefed Parliament on the latest at Denel as well, saying the state arms firm faced the risk of being placed under a form of bankruptcy protection called business rescue or even liquidation.

Denel has struggled to pay salaries this year amid a liquidity crisis aggravated by the pandemic. It is forecast to have had a negative equity position of R3.3 billion as of March this year.

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_Additional reporting by Reuters. _

South Legit


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