The entity has warned that it will run out of money by next month, putting it at risk of liquidation.
The business rescue practitioners gave the warning in a presentation to the Portfolio Committee on Communications on Tuesday.Gungubele says government is committed to ensuring that the Post Office is run by competent people in order to self-sustain. “Government committed to fund that rescue for no less than R3.8 billion. Where I’m sitting, the government made a decision to meet that undertaking; however, we have also discussed with the business rescue practitioners that is one of the things we expect them to do when government finally allocates that R3.8 billion. There must be a business plan which is of such a nature that when that money is allocated SAPO will be less dependent on the fiscus than it was before.
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