NBC begs for N$80m bailout

THE cash-strapped Namibian Broadcasting Corporation is struggling to raise N$80 million as part of its N$345 million budget for paying bills this year.

News about the N$80 million shortfall comes at a time when the broadcaster owes Namibia Medical Care (NMC) N$15 million, and has also failed to pay subsidies for workers' houses and vehicles. The broadcaster's director general, Stanley Similo, confirmed to The Namibian yesterday that they are short of N$80 million. He said government will give them N$139 million, while the other N$126 million will come from advertisements. Similo admitted that the broadcaster owed NMC N$15 million after they failed to pay medical aid subscriptions for months.