The South African Post Office’s debts exceed its assets by R12.5 billion. This is according to Business Rescue Practitioners Anoosh Rooplal and Juanito Damons.
The Business Rescue Practitioners say to turn around the company into a factual solvent position, its revenue must improve, and an effective and efficient cost structure must be attained.
They say they have been working with management to address the decline in revenue, also looking at generating additional sources of revenue, and reduce costs.
The business practitioners says the success of the Post office business rescue is predicated on arresting the cash flow bleed whilst also allocating capital to facilitate the company being able to service clients effectively.
Decision to place South African Post Office under business rescue: Aubrey Tshabalala:
