Cash-strapped SA Post Office 'in dire straights', Ntshavheni admits
Government has acknowledged that the South African Post Office is in dire straits.
It says the state-owned enterprise needs a financial bailout of R1.6 billion from the Treasury over the next two years just to stay afloat.
Communications and Digital Technologies Minister Khumbudzo Ntshavheni revealed the eye-watering figure on Wednesday while answering questions from MPs in the National Assembly.
She assured MPs there is a plan to return the post office to its former glory.
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Ntshavheni took aim at SAPO's former CEO Mark Barnes who's offered to buy a portion of the group to help turn the situation around.
She said government is not interested in the offer, adding that they didn't see results when the post office was handed R3.5 billion under Barnes's leadership.
