SAPO has spent R321 million on its business rescue practitioners since July 2023

[mylesillidge]

South African Post Office business rescue has cost taxpayers R321 million

The South African Post Office (SAPO) has spent R321.18 million on its business rescue practitioners since it began the insolvency proceedings in July 2023.

Communications Minister Solly Malatsi revealed the figure in an answer to Parliamentary questions at the end of May, which included the detail that more than R13.722 million was spent on practitioner fees.

 

[My_King]

Nice, I know companies who did not have backing like them and went under.

 

[Fuzzbox]

Private partners are not interested if the government is involved.

CLOSE DOWN ALREADY.

 

[Hemi300c]

It's a farse and the SAPO is just being kept open for sending government letters, keeping voters in jobs and a cashcow for corruption.

 

[ShaunSA]

No more money down black holes. The DA Difference

 

[SilverCode]

In 2023/2024 FY the support staff costs were R64m. That is R5.3m per month. If I tumb-suck 50 support staff required (*), that is then R106 000 per person in salaries. I think the BRP are in on the corruption and are just milking the system.

* Surely they can't need more than 50 support staff? Lots of medium size companies operate just fine with 50 employees, and these are *support staff*. The post office must have actual staff as well that can function in some of the required roles. If not, then what happens when BRP is over and all the support staff leave? Does the PO just collapse again because the only people doing the work just left?

 

[oros]

And no progress what so ever....

 

[Corelli]

Honestly I have used the Post Office for decades and never lost 1 package. Ive had far more things go missing with the Master of the High court than the Post Office, well like how many times 20+ must I send the same documents over and over.

But for me, using a post box for decades getting stuff in from the US (Amazon, BH Photo), UK (Amazon) Germany (Art), Japan (Art, Clothing, Electronics) and even Indonesia (Electronics), I have not lost 1 single package. In matter of fact my local postmaster has easily tracked every step of every items thats come into the country for me. The biggest delays has always been at customs.

And to put it mildly I feel more safe with the SA Post Office than I would ever feel with baggage control at OR Tambo (which is why I never fly there with check in luggage), not even to transit with it.

I do think there are stuff we miss from the Post Office (Christmas time and yet my granny tend to post me cash in envelopes and so did uncles, aunts etc for birthdays too). And it never went missing either.

Our modern post office should be a mix of Checkers' Money Markets, with courier deliveries and storage (yes all those package collection boxes like Pargo, Bobbox etc), and should have some nostalgia for Christmas time, birthdays and collectables (Stamps, Pokemon and so on).

I honestly dont see the need for actual post boxes on site anymore. Although those bicycle guys did help in catch a few criminals in the years that I have known them.

But to put the bailout in contrast?

Eskom got R450 billion in cash bailouts and another R254 billion in guarantees. And yes the post office still does a few hundred million deliveries and client assistance a year, even while being shafted by their own leaders.

What it does need though, is a proper leader, maybe merge it with Pargo.

 

[Bad Ballie]

Still a failure, shut it down and stop milking funds from the taxpayer who for the most, never uses it anyway.

 

[wingnut771]

Imagine there were no lawyers.