Namibia: NBC Gets a N$1 Billion Despite Breaking Even
The Namibian Broadcasting Corporation (NBC) will get just over N$1 billion over three years in State funding despite reporting improved financial results last year.
The State broadcaster has reduced losses in recent years since the government appointed prominent businessman Sven Thieme as chairman in a bid to turn around the financial fortunes of the loss-making corporation.
In the 2012/13 financial year, the corporation's revenue increased by 10% to reach N$67,9 million with the government providing funding of N$154,3 million during the period.
NBC's overall deficit was N$2,3 million compared to a deficit of N$48,5 million in 2011/12. This improvement resulted in Thieme saying, last year, that a break even was close.
However, the 2014/2015 budget show that the NBC will be one of the recipients of huge funding with just over N$1 billion in the next three years.
Budget documents tabled in parliament last week by finance minister Saara Kuugongelwa-Amadhila say the money for the NBC will be used for operating expenses, infrastructure development, which includes transmitter network improvement, implementation of Digital Terrestrial Television (DTT) migration and upgrading of studios.
The documents show that other State-owned media companies and including NamZim, a joint venture with the Zimbabwean government, will be handsomely funded from state coffers.
NamZim will receive N$39 million over three years, New Era will also receive N$39 million over the same period while the Namibia