SABC cash alarm sees finance duo sidelined

THE SABC has placed two of its top three finance officials on special leave, leaving the division rudderless as the broadcaster rapidly runs out of cash.

The Sunday Times has established that SABC treasurer Arrie Thomas and chief financial controller Petra Campher were sent home on Wednesday. Sources with direct knowledge said they were accused of leaking documents to the Sunday Times that revealed an SABC plan to ask banks for a R1.5-billion bailout to stay afloat after their repeated warnings to chief financial officer James Aguma went unheeded.

The documents, including excerpts of the SABC treasury report and an e-mail Thomas sent to his finance managers, revealed that R500-million had been wiped off the SABC’s bank balance in the past three months. They were not leaked by Thomas or Campher.

“Arrie and Petra have been writing a series of requests . . . to [Aguma] that the SABC will run out of cash in November,” said a source.

“They are forecasting a shortfall of R350-million to R400-million in TV licence collections by the end of the year and a loss of R1.1-billion to R1.3-billion for next March.”

The suspensions would make it harder for the SABC to convince the National Treasury to give it the guarantee it needs before banks will lend it money, the source said.

Another source said: “It will be a disaster when the SABC asks Treasury for a guarantee. The Treasury officials will say: ‘Where are the people we normally talk to?’ ”

SABC spokesman Kaizer Kganyago confirmed Thomas and Campher were placed on special leave but declined to provide reasons. “We do not discuss employer-employee issues in the public space.”

The SABC was “not requesting any Treasury guarantees” and would not comment on unaudited figures, he said.

Campher declined to comment. Thomas did not respond to messages.