CEO Barnes says Post Office can fight off 'disrupters'
The only way to serve the informal market was with "some form of state capitalism"
Post Office CEO Mark Barnes has described the state company as "still in danger", but expressed confidence that it can be turned around if it adapts itself to changed commercial conditions. "It could die. I still think the Post Office is in danger. But if you take what it's got as the elements of design you can create something quite extraordinary." Barnes was the guest speaker at the Cape Town launch of the redesigned Business Day, Financial Mail and the new BusinessLIVE website. "We are the first touchpoint for the informal economy. The informal economy is growing much faster than the formal economy. I would argue the GDP growth in the informal economy is four, five or six percent." Barnes said the only way to serve this market was with "some form of state capitalism". He said that some governments worked closely with their post offices. "If they want to stimulate small enterprises, they make small enterprise postage free. Why not?" The "prize" for the government would be a middle...
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