Insolvent Post Office wants R3.8bn more for turnaround
Mondli Gungubele says additional funding depends on it going into business rescue
29 June 2023 - 05:00
The cabinet has agreed to more funding for the hopelessly insolvent SA Post Office (Sapo), which has stated in its business rescue application it needs R3.8bn in addition to the R2.4bn it received in the February budget for its turnaround.
The bailout amount for future funding has not been disclosed, but communications & digital technologies minister Mondli Gungubele says the cabinet stipulated that the R2.4bn and any additional funding would be made available only if the Post Office goes into business rescue and is not liquidated...
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