Hon Speaker, to respond to the hon Zondi's question, the reply to the question is as follows. Yes, the financial guarantee was used to raise a loan to the value of R1 billion to pay outstanding debts to local and foreign creditors. The money from the loan was used to prevent a major crisis at the SABC, and to assist in getting its outstanding debts paid. The loan unfortunately did not resolve the SABC's financial challenges as a turnaround plan is still to be implemented, which is currently being developed by the corporation. Should the SABC continue to incur high expenses on certain costs items, it will certainly find itself in a limited cash flow position again.
The number of issues will need to be addressed as per the corporate plan that was submitted with the guarantee application. I'm informed that in dealing with this turnaround plan that the corporation is currently seized with, the corporation is investigating measures to bring down the operating costs of the corporation. It is certainly looking at restructuring the organisation so that it could become a fitter organisation. It is looking at ways in which it could improve its efficiency.
Unfortunately, the details are not available to us yet. I'm informed by the corporation that these are being looked at quite thoroughly, and are being discussed by the corporation, as well as the formulation of its turnaround strategy. They are to present their thinking on the turnaround strategy to the department this coming week, whereupon this strategy will be presented to Parliament. Thank you.