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South African Post Office Business Rescue Plan Endorsed by Creditors

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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.

 

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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.
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