Sentech's deepening woes

Wed, 01 Sep 2010 12:13

Business Day reports that parastatal signal distributor Sentech is teetering on the brink of collapse. A document presented by Sentech to Paliament’s portfolio committee on communications on 31 August reveals that its business units are running at a loss and may have to be closed.

The recently appointed Sentech board is currently controlling the parastatal’s business operations as both the Acting CEO Beverly Ngwenya and CFO Mohammed Cassim have been suspended.

Sentech’s auditors maintain that its funds will last until the end of March 2011 and that there will be no growth in revenue this year.

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