Post Office seeks R3.4 billion bailout

[Jan]

SA Post Office wants a R3.4 billion bailout

The South African Post Office (Sapo) wants a R3.4 billion bailout from government to cover its cash flow deficit and fund the implementation of its turnaround strategy.

Sapo said it requires R1 billion of the funding before 31 March 2023 to help with its cash flow issues, while the remaining R2.4 billion will be used to implement its "Post Office of Tomorrow" strategy.

 

[ToxicBunny]

The taxpaying population of the country has a response...

"No, fsck off"

 

[supersunbird]

 

[PaulMurkin]

Translation: Cadres seek a 3.4B ZAR bonus day

 

[porchrat]

the remaining R2.4 billion will be used to implement its "Post Office of Tomorrow" strategy.

I thought the strategy was to close most post offices down tomorrow?

 

[Baise]

Of course fukin of course ..

 

[rvZA]

I say give it to them. They will in any event be back in 3 months asking for another, which I also think should be given to them.

 

[theratman]

Tsek

 

[ToxicBunny]

View attachment 1423723

You're generous in all honesty.

I figure they owe the tax payers a few hundred ronds each to refund the wasted bailout money so far.

 

[ShaunSA]

Give it to them. If we can bail out Eskom we can bail out everyone else

 

[dualmeister]

No. We need a fleet of ships rather.

 

[SilverCode]

This isn't sustainable and I don't see it being a successful long term strategy.

SAPO should try finding other sources of revenue. Maybe branch out and start delivering mail and parcels. You could charge people based on the size/weight of the parcel, and deliver it from one location to another in a timely manner. I'm sure with the increase in online shopping there is money to be made in this sector.

I just really don't think a business strategy based on begging for money is that sound and at some point people are going to start saying "sorry, no change " as they turn their head and walk away a little faster and ignore further pleas for help.

 

[Fuzzbox]

Close the post office .
Its not relevant anymore.

 

[Vrotappel]

Maybe this turnaround strategy will work.

 

[Quicks]

Like every other SOE's run into the ground by the ANC. Even if you bail them out with 1 Trillion dollars it won't make any difference.

 

[Corelli]

Isnt 9 out of 10 post offices closed for good? What do they need so much money for other than for exec bonuses?

 

[RonSwanson]

Lekker Transformation, AA and BEE!

 

[Dups!]

This organisation (ANC) really is the most useless one in this world.
Well, not entirely useless, they are good at one thing and one thing only- being thieves! A really messed up compliment if there ever was one.

Okay, two things- destroying everything in sight is another one.

How bad do you really have to be when the good things you are known for are abhorable?

 

[RonSwanson]

Isnt 9 out of 10 post offices closed for good? What do they need so much money for other than for exec bonuses?

For BEE and transformation. It's top of the agenda.

 

[borro]