Post Office debt exceeds assets by R12.5bn
The government has committed more than R6.2bn in bailouts to the Post Office in 2023 on top of a cumulative R8bn in previous years
The SA Post Office’s debt exceeds it assets by R12.5bn, according to business-rescue practitioners who gave their first update after two months at the helm trying to save the state-owned entity.
Business-rescue practitioners Anoosh Rooplal and Juanito Damons said the success of the business rescue process requires “arresting the cash flow bleed while also allocating capital to facilitate the company being able to service clients effectively”...
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