KHAYA SITHOLE: The demise of the Post Office is no great surprise
It languished in that grey space where state ownership and commercial pressures from private competition ignited the journey towards extinction
20 April 2023 - 05:00
More than 20 years ago Maanda Manyatshe served as CEO of the SA Post Office. Called upon in 2003 to account for the organisation’s losses, Manyatshe took MPs through a detailed analysis of the state-owned entity’s fragile business model.
In the preceding three years the Post Office had recorded losses of R584m, R371m and R215m. Core to these losses was that while it processed more than 6-million letters per day, it was spending an average of R1.35 to deliver each but charging only R1.23...
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