Government is calling for calm as the South African Post Office slips deeper into financial distress.
The minister of communications and digital technologies, Mondli Gungubele, has called for calm from clients, creditors, employees and users of the South African Post Office which has been placed under provisional liquidation.
Despite its challenges, Gungubele said that the SAPO has developed a bankable strategy to transform the entity and make it profitable for business once again – a new strategy suited to this age and time. SAPO was placed in provisional liquidation this month following a creditor approaching the Pretoria High Court to recover back rent. Legal experts fromnoted that the company is technically insolvent. However, a final liquidation order has not yet been issued.
The company has been a consistent drain on the economy and is another example of mismanagement at a state-owned entity. Some have argued that its liquidation would be more beneficial to the country than trying to get it to run profitably.
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