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SAPO modernisation put on ice after not receiving R3.8bn bailout, say its business rescuers

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They also said to avoid 'day zero' - a scenario where the entity's coffers would be empty, adding that they need even just R1 billion to stay afloat.

CAPE TOWN - The South African Post Office business rescue team says investing in the modernisation of the entity is on hold because it hasn't received a R3.8 billion bailout.

The department and the business rescue practitioners briefed Parliament on Tuesday, on the cash-strapped entity and whether it would survive beyond October. But business rescue practitioner Anoosh Rooplal said they still need a cash injection to stay afloat.

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