Bailout limbo: Post Office BRPs still waiting for news of R3.8bn from Treasury
The Post Office's business rescue practitioners say they don't know when or whether they will receive the full R3.8 billion bailout they requested from National Treasury to keep the state-owned entity from going under.
The joint BRPs, Anoosh Rooplal and Juanito Damons, have warned that their plan to reform the Post Office is contingent on unlocking the bailout. If the business rescue plan fails, the Post Office will likely be forced into a messy and embarrassing liquidation. Rooplal and Damons had hoped that Finance Minister Enoch Godongwana would announce the extra funding during his budget address last month. South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.
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