The cash-strapped South African Post Office has devised a turn-around strategy that will see the entity go from being financially in the red and repositioning itself in the changing postal sector.
On Thursday, Sapo said it needed an R8 billion bailout from Treasury over the next three years to stay afloat.
Communications Deputy Minister Philly Mapulane said the department supported the entity’s new strategy, which was finalised last month.
Mapulane said Sapo’s new strategy would go a long way to ensure Sapo repositioned itself.
At the same time, Mapulane has raised concerns over the R200-million irregular expenditure for which no one has been held accountable.
Scopa and the department have instructed Sapo to compile a report on the expenditure – and table their 2020/2021 annual report by December.
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