Finance and acting communications minister Enoch Godongwana has welcomed the move to place the ailing SA Post Office under supervision and in business rescue.
SAPO’s business rescue is to avert final liquidation, after it was placed in provisional liquidation on 9 February. The provisional liquidation came after Bay City Trading 475, to which the post office owed rent, approached the court for such an order. “SAPO is a strategic government asset that provides vital services throughout the country, especially in remote areas where SAPO is often the main link between residents and the outside world.
Gungubele adds it is a crucial government service platform that caters to millions of citizens and cannot afford to cease its operations.and incumbent DCDT ministers have been determined to hang on to the ailing entity, saying government has no intention to sell the post office.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Postbank stands to lose R3.5bn as Post Office pleads for business rescueFate of Post Office raises question over plan to be a fully fledged bank
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: mybroadband - 🏆 11. / 67 Read more »
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Post Office business rescue puts 7,000 jobs on the lineCuts could save more than R1.3bn in annual salaries
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: Moneyweb - 🏆 5. / 77 Read more »
Source: Moneyweb - 🏆 5. / 77 Read more »