Post Office blows R2.1 billion

Just another corrupt & inefficient organisation in SA

It shows, among others, that the Post Office:

spent R184m on external consultants
spent R39.6m on legal costs
spent R114m on travel expenses, including overseas trips
recorded a net loss of more than R361m in the year under review
recorded a net loss of R361.2m after tax
The newspaper reported that Sapo was currently operating on an overdraft of R250m, but its sources disputed the figure and put it at R365m.

The unnamed sources allege that employees’ funds were used to redress the overdraft.
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I shouldn't be shocked but I am. so much can be achieved in this country if people weren't intent on fsuckn up the stuff we have.
 
When will this ever stop? Who is going to take ownership of these things. Now we haven't been receiving mail in over a month in Pretoria. Some of the mail include feedback on assignments from Unisa and the exams are just weeks away.
 
If it had not of happened I would of been surprised.

Probably get golden handshake.

They have once again shown their incompentance.
 
Why doesn't the Treasury refuse to pay the bills when it knows that the Government department is not following its budget ?
 
I thought the (SA) Post Office were already making a loss! The PO is a nineteenth century anacronism and should modify its business model so as to be more like a courier co. Then, if they cannot turn themselves around in 3 years, should be split up into different services

In the USA, the PO has also made a tremendous loss. The UK seems to have the right idea, with Arriva being a publically listed company
 
+62% of SA People Approve . Voted ANC goverment

Don't worry... the government (tax money) will bail them out!

Yea.. and they want "free" health. This government can't run anything.. Eksdom, Post office, Telkom, SABC, South African Airways.. just to name a few..
 
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chrisc4290 said:
I thought the (SA) Post Office were already making a loss! The PO is a nineteenth century anacronism and should modify its business model so as to be more like a courier co. Then, if they cannot turn themselves around in 3 years, should be split up into different services

In the USA, the PO has also made a tremendous loss. The UK seems to have the right idea, with Arriva being a publically listed company
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An incredible success story is Deutsche Post which was privatised in the mid 90's from the German state-owned Bundespost - I am not sure why other postal companies could not just carbon copy what the germans did. I think Deutsche Post with all it's acquisitions (such as DHL), must be now the biggest courier/mail company in the world (and being profitable). In fact, our government should really look at a number of countries on how to privatise state-owned companies - I think there is not a single European country, which failed privatising SOC's (electricity, water, refuse, mail, telecomms, banking).
 
MagicDude4Eva said:
An incredible success story is Deutsche Post which was privatised in the mid 90's from the German state-owned Bundespost - I am not sure why other postal companies could not just carbon copy what the germans did. I think Deutsche Post with all it's acquisitions (such as DHL), must be now the biggest courier/mail company in the world (and being profitable). In fact, our government should really look at a number of countries on how to privatise state-owned companies - I think there is not a single European country, which failed privatising SOC's (electricity, water, refuse, mail, telecomms, banking).
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One word : ego.
 
MagicDude4Eva said:
An incredible success story is Deutsche Post which was privatised in the mid 90's from the German state-owned Bundespost - I am not sure why other postal companies could not just carbon copy what the germans did. I think Deutsche Post with all it's acquisitions (such as DHL), must be now the biggest courier/mail company in the world (and being profitable). In fact, our government should really look at a number of countries on how to privatise state-owned companies - I think there is not a single European country, which failed privatising SOC's (electricity, water, refuse, mail, telecomms, banking).
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How does this match up in prices though? Part of the reasoning is that our tax money can make these services more affordable and cater to the large amount of poor people we have in SA.
 
spent R184m on external consultants
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"Consultants" again. Seems like a popular way of wasting money these days. I believe that if you put the right people in management positions then there is no need for "consultants" :erm:

spent R114m on travel expenses, including overseas trips
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Who from the Post Office had to travel so much and why?
 
2012 said:
How does this match up in prices though? Part of the reasoning is that our tax money can make these services more affordable and cater to the large amount of poor people we have in SA.
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I think it is fairly cheap - a few years back it cost about 50 bucks to ship a 10kg box within Germany and the parcels would be delivered next day. In some cases the regular postal service would still do same-day delivery of parcels when ordered in the morning (I think this has gotten substantially better with DHL DE now as well).

When was the last time you have received reliable service from SAPO?
 
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