NBC management appears before Parliamentary Standing Committee on Public Accounts

NBC management appears before Parliamentary Standing Committee on Public Accounts

The Namibian Broadcasting Corporation (NBC) management, lead by the Director-General (DG) Stanley Similo appeared before the Parliamentary Standing Committee on Public Accounts this morning.
NBC has obtained an adverse audit opinion from the Auditor-General (AG).
Chairperson of the committee, Mike Kavekotora said it is concerning that the corporation has been getting the adverse opinion for more than three consecutive years to a point of insolvency.
The committee wants NBC's DG to explain if the corporation was able to take control of its properties and assets as recommended by the AG.
Similo said the corporation is making progress in honouring the statutory obligations although budget cuts make it difficult considering the expectation on the institution.
He says a N$100 million subsidy cut from a none-commercial entity, with an overstretched function, makes it almost impossible to honour the obligations.
Unless the funding model is reviewed and solved, the corporation will be operating under constraints. But he said, to date, medical aid and pension fund contributions are up to date.
Similo explained that the tagging exercise of all its assets and equipment is complete and there are inventories in place.
The AG initially discovered that the corporation's assets were understated by over N$3 million.
The DG said he hopes that because NBC is now fully categorised as an absolute non-commercial entity this might improve the way Government sees and funds the entity.