Post Office seeks R3.4 billion bailout

[Happy Days]

SAPO asked for too little - it should be the R3.4 billion + R8.2 billion to cover all the liabilities. Anyhoo, another insolvent SOE; they should be commended for their continued willingness to throw good money after bad.

 

[ConfusedR]

And I want the ANC government to give me R1 mil to help me with my debt bailout and then to fund me some more next year because I will just make more debt because I know the ANC government will bail me out

 

[garyc]

Why do these turnaround strategies always show a return to profit after three to five years, a time frame that inevitably falls after the expiry of a CEOs contract?

 

[daveza]

R2.4 billion will be used to implement its “Post Office of Tomorrow” strategy.

The Post Office of Tomorrow -

 

[justplain]

I want a bail out too, I only need R100m.
Seems cheap compared to what the Post Office wants.....

 

[The Darkness]

Or SAPO could run a business, and employ minds and people who can make it profitable?

 

[BuckRogers]

The Post Office of Tomorrow -

View attachment 1423769

Landlords tend to do this when you do not pay the rent

 

[DrJohnZoidberg]

Or SAPO could run a business, and employ minds and people who can make it profitable?

That sounds like hard work, much easier just getting free money.

 

[kota]

why bail out a service that no one uses, RIP post offices...

 

[neoprema]

NO.

 

[KleinBoontjie]

Ok, lets say you get the bailout. How much will it be next month?

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

Whether its closed or not, the oxygen thiefs probably still draw salary.

 

[Pegging]

 

[My_King]

"Post Office of Tomorrow" strategy

i-tenda tenda

 

[W@P]

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.

 

[krusty22]

You all do realize why all dead SOE’s are kept alive with bailouts right?
Every single one of them are kept in place for one sole 2-Step purpose… 1. Bailout 2. Steal Bailout Money. This is the cycle that will keep playing out until there is nothing left and we all sit in the sun waiting for food parcels from the west. Might as well accept it and move on, or move out of ZA if you can.

 

[ToxicBunny]

Why do these turnaround strategies always show a return to profit after three to five years, a time frame that inevitably falls after the expiry of a CEOs contract?

Because they're never about turning around the entity but about guaranteeing the employment of the CEO

 

[daveza]

why bail out a service that no one uses, RIP post offices...

Because they are the only allowed courier service?

 

[VooDooC]

I'll pay you a hundred bucks to **** off

 

[LazyLion]

Just put all the money in one big pile and set fire to it... it will be quicker.

 

[Skerminkel]

Remind me what this Post Office thing is again, please.