This is according to a parliamentary question posed to communications and digital technologies minister Solly Malatsi.
“The BRPs are accompanied by a team of legal professionals, consultants and specialist advisers who charge an hourly tariff based on their professional tariffs and level of seniority,” Malatsi told Parliament. The minister was also questioned about the financial “zero-day” the BRPs said Sapo would reach at the end of October if it did not receive a R3.8 billion bailout from the national fiscus.
However, Sapo needs the R3.8 billion to pay statutory and payroll creditors, who will receive an additional 18 cents per rand dividends. Two of the three retrenchment package payouts have already been made, with the third scheduled for November this year.