SA Post Office faces collapse without bailout, ministry says
Sapo received R2.9bn from the Treasury in 2019 to settle loans and pay critical suppliers, and cumulative allocations amount to R8.6bn since 1991
The SA Post Office (Sapo), a technically insolvent parastatal, will collapse without a new cash injection from the government, its parent ministry warned on Tuesday.
Briefing parliament’s finance watchdog the standing committee on public accounts (Scopa) on some of the challenges afflicting Sapo, communications and digital technologies deputy minister Philly Mapulane said the ministry was hoping the Treasury would allocate the entity an R8bn bailout in the medium-term budget policy statement (MTBPS)...
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