The plan by the cash-strapped SA Post Office (Sapo) to downsize its workforce by slashing 6,000 jobs will not affect the Postbank, which is eager for a full banking licence, paving the way for it to become the state-owned bank. 

Postbank, which has been operating under technically insolvent Sapo, is a separate company and is not involved in discussions between unions and the employer regarding looming retrenchments at the state-owned postal services, according to Sapo spokesperson Johan Kruger. ..

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.