News Formal

South African Post Office Business Rescue Plan Endorsed by Creditors

  • 📰 Moneyweb
  • ⏱ Reading Time:
  • 3 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 39%
  • Publisher: 77%

Business News

The South African Post Office (Sapo) business rescue plan has been endorsed by creditors, but it includes substantial job cuts. Economist Dawie Roodt discusses the financial feasibility and sustainability of the plan, which has received R2.4 billion from National Treasury.

The South African Post Office (Sapo) business rescue plan has been endorsed by creditors, but it includes substantial job cuts. Economist Dawie Roodt discusses the financial feasibility and sustainability of the plan, which has received R2.

4 billion from National Treasury.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

South African Post Office's Business Rescue Plan Reveals Massive DebtThe business rescue plan for the South African Post Office (Sapo) shows a state-owned company that owes nearly R9 billion to creditors. Accumulated losses totalled R19 billion, with reported losses for the last 16 years. Assets are barely R4.4 billion.
Source: Moneyweb - 🏆 5. / 77 Read more »