SA Post Office requests R3.8 billion bailout from government

Описание к видео SA Post Office requests R3.8 billion bailout from government

The SA Post Office (SAPO) has warned it will run out of money by next month, putting it at risk of liquidation. Business rescue practitioners who reflected on the bank's performance gave the warning in a presentation to the Portfolio Committee on Communications on Tuesday.
Despite receiving 2.4 billion funding allocation from National Treasury in 2023, SAPO says it needs 3.8 billion rand bailout from the government to operate.

SAPO was placed under business rescue in July last year.

Deputy Minister of Communications and Digital Technologies Mondli Gungubele unpacks the crisis facing SAPO.

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