Communications Minister Considers Privatising Post Office, Mzansi Weighs In on Struggling Entity
- The South African Post Office is on the brink of liquidation unless they get R3.8 billion
- The Communications Minister is looking into selling SAPO to the private sector to save it
- South Africans have different thoughts about what should happen to the state entity
Source: Getty Images
CAPE TOWN – The South African Post Office (SAPO) could be sold to the private sector in a bid to save it.
The beleaguered institution entered into business rescue in 2023 after it was placed under provisional liquidation.
Communications Minister to form task team
In an attempt to save the entity from a total collapse, Communications Minister Solly Malatsi confirmed they were looking at privatising SAPO.
PAY ATTENTION: Briefly News is now on YouTube! Check out our interviews on Briefly TV Life now!
Malatsi explained that he had asked for National Treasury’s support and wanted to form a task team to find private financial and operational partners for the Post Office.
The minister’s comments come after he admitted that the entity required R3.8 billion to avoid going into liquidation.
Hundreds of Post Offices already shut down
In 2023, it was already reported that over 400 SAPO branches were closed as the entity struggled to stay afloat.
At the beginning of 2024, it was announced that over 200 more branches could be shut down despite SAPO entering into business rescue. SAPO then proceeded with further retrenchments throughout 2024.
Mzansi questions why SAPO isn’t privatised
Many South Africans who took to social media wondered why the entity wasn't already privatised, with some saying individuals wanted to milk it for all they could before selling it.
@bradpittyroy said:
“It was/has always been part of the plan. I wonder what's next.”
@_JS_Bond_ added:
“Might as well because most people use private owned couriers already.”
@daveawalker_61 asked:
“The Post Office still exists?”
@LeadDriverSA urged:
“Do it. There's nothing to consider, just do it. Maybe then I'll get the parcel, I've been waiting five years for.”
@willdav49462260 said:
“Anything to get it away from the corrupt lying stealing ANC bunch of thieves, then it might actually survive.”
@BlakVoyder_ added:
“This is what the marriage between the ANC and DA is based on, destroying government capacity and giving off state assets to private sector crooks in collaboration with politicians. We need a proper people's government that will come in and re-nationalise all these stolen state assets.”
@Vaccinations13 said:
“They should give it to Postnet. They are the best, they are well run.”
Post Officer proceeds with retrenchments
Briefly News previously reported how SAPO proceeded with retrenchments of close to 4,900 employees.
Many had hopes that jobs would be saved after the state-owned enterprise entered business rescue. The Joint Business Rescue Practitioners revealed that they were unsuccessful in their application for relief funding.
PAY ATTENTION: Сheck out news that is picked exactly for YOU - click on “Recommended for you” and enjoy!
Source: Briefly News
