Post Office will have its books in order by 2018, Mark Barnes says
THE South African Post Office (Sapo) says it will get its financial books in order by 2018 after paying off its debts to its creditors.Sapo CEO Mark Barnes was speaking to TMG Digital at a post office branch in Pimville‚ Soweto‚ at an event that is part of a spring-cleaning of branches by Sapo workers across the country to celebrate recent milestones. Barnes said this goal would be achievable through a good turnaround strategy.READ THIS: Why the Post Office was right to fire strikers"We have raised all the capital that we need and we have settled all the labour liabilities of the past and we have structured a deal going forward. We will also pay all our creditors, which will all happen in a short while ... but we have paid all the backlogs to creditors even though we have made losses‚" said Barnes.His comments follow his recent statement to Parliament’s portfolio committee on telecommunications and postal services that the entity recorded a net loss of R259m in the first quarter‚ a...
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