Best option for Post Office is to be put under business rescue: Gungubele - SABC News

  • 📰 SABCNews
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

Minister of Communications and Digital Technologies Mondli Gungubele has briefed Parliament that at this stage, the best option for the South African Post Office is for it to be put under business rescue.

He briefed Parliament’s Communications and Digital Technologies committee.in February. The embattled state-owned entity has been making annual losses of R2 billion over the past three years.

Gungubele says Cabinet has agreed to the approach of business rescue. Gungubele says it was unthinkable for the Post Office to go under. “Worse thing you can allow, taking into consideration that no less than 700 SMMEs have relationships with SA Post Office. Naturally they give work opportunities to significant number who feed families and infrastructure to pay grants of 9 million people,” says Gungubele.

 

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:

 /  🏆 37. in US

United States United States Latest News, United States United States Headlines

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

Post Office applies for business rescue in effort to save ‘essential service’Provisional liquidator argues in court against final liquidation as it provides an essential service to many citizens
Source: BDliveSA - 🏆 12. / 63 Read more »

Post Office heading for business rescue | The Citizen📬Post Office headed for business rescue after the Communications Minister filed an urgent application to stop the SOE from being liquidated💰 🔒🚫 TheCitizenNews Catch up here⬇️
Source: TheCitizen_News - 🏆 6. / 75 Read more »