Exclusive | Econet Media racked up more than R1.8-billion in external liabilities and was unable to pay suppliers before it was placed into administration earlier this week, a document seen by TechCentral shows.
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The decision to place Econet Media’s satellite television business into administration will not affect the planned launch of Kwese Free TV in South Africa, a top company executive has said.
SABC chief financial officer Yolande van Biljon says there is no anticipation of “Day Zero” at the public broadcaster for the next three months. Full staff salaries, Van Biljon said, will continue to be paid.
Econet Media has placed its satellite broadcasting business into administration, Business Day reported.
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