Post Office: Grants ‘will be paid’ despite cash crunch
The
Post Office has given an assurance to social grant beneficiaries that their
money will be paid on time despite a cash crunch.
This comes amid reports that the cash-strapped South African Post Office is begging its subsidiary Postbank for R1 billion to enable it to process 13 million social grants in a week’s time.
Acting Post Office CEO Reneilwe Langa has accused the media of causing unnecessary panic.
“The South African Post Office have noted the media reports about the grant beneficiaries that they might not be paid due to financial challenges, but we want to assure the grant beneficiaries will not be affected at all and they will be paid their grants as scheduled.
“These reports actually don’t have best interest for beneficiaries at heart, we see them more causing unnecessary panic and it is important to assure beneficiaries during this time that they will be paid and their funds comes directly from National Treasury and not funded by the Post Office revenue.”
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