{"id":109232,"date":"2014-09-04T08:06:15","date_gmt":"2014-09-04T06:06:15","guid":{"rendered":"http:\/\/mybroadband.co.za\/news\/?p=109232"},"modified":"2014-09-04T08:08:36","modified_gmt":"2014-09-04T06:08:36","slug":"post-office-blows-r2-1-billion","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/technology\/109232-post-office-blows-r2-1-billion.html","title":{"rendered":"Post Office blows R2.1 billion"},"content":{"rendered":"<p>The SA Post Office blew R2.1 billion in irregular expenditure in the past financial year, The Star reported on Thursday.<\/p>\n<p>The financial losses were as a result of the irregular awarding of tenders, according to a draft audit report for the financial year ending May 31, 2014, by auditing firms Deloitte &amp; Touche and Nkonki.<\/p>\n<p>The audit outcome is contained in Sapo&#8217;s 2013\/14 annual report, according to The Star.<\/p>\n<p>The report &#8220;appears to show&#8221; that Sapo did not follow mandatory tender procedures and that pricing and quotations were not done when procuring goods and services.<\/p>\n<p>It shows, among others, that the Post Office:<\/p>\n<ul>\n<li>spent R184m on external consultants<\/li>\n<li>spent R39.6m on legal costs<\/li>\n<li>spent R114m on travel expenses, including overseas trips<\/li>\n<li>recorded a net loss of more than R361m in the year under review<\/li>\n<li>recorded a net loss of R361.2m after tax<\/li>\n<\/ul>\n<p>The newspaper reported that Sapo was currently operating on an overdraft of R250m, but its sources disputed the figure and put it at R365m.<\/p>\n<p>The unnamed sources allege that employees&#8217; funds were used to redress the overdraft.<\/p>\n<h3 class=\"my-4\">More tech news<\/h3>\n<p><strong><a href=\"http:\/\/mybroadband.co.za\/news\/broadcasting\/109126-hlaudi-paid-more-than-zuma.html\">Hlaudi paid more than Zuma<\/a><\/strong><\/p>\n<p><strong><a href=\"http:\/\/mybroadband.co.za\/news\/cellular\/109132-cell-c-megabonus-offer.html\">Cell C MegaBonus offer<\/a><\/strong><\/p>\n<p><strong><a href=\"http:\/\/mybroadband.co.za\/news\/general\/109136-south-africa-stone-last-in-mathematics-science-education-ranking.html\">South Africa stone last in Mathematics, Science education ranking<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SA Post Office blew R2.1 billion in irregular expenditure in the past financial year, The Star reported on Thursday<\/p>\n","protected":false},"author":33,"featured_media":97879,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[17],"tags":[36,26648,3734],"class_list":["post-109232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-active","tag-irregular-expenditure","tag-post-office"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/109232"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=109232"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/109232\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/97879"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=109232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=109232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=109232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}