Cape Town - The SA Post Office (Sapo), amid reports that it would be provisionally liquidated, has attempted to reassure its employees, clients and service providers that it is doing all it can to “act in the interests of all its stakeholders”.
This comes after Sapo secured funding to the tune of R2.4 billion from the National Treasury.
In a statement issued by Sapo citing financial challenges, it said it was undergoing a business turnaround strategy.
“It is unfortunate that this particular provisional liquidation order relates to a debt that had since been settled…
“The SA Post Office remains committed to the long-term viability of its business and has, as such, been engaging with stakeholders on its business turnaround strategy.
“The organisation has the support of its shareholder and is addressing the matter with the appropriate legal support, so as to ensure that the interests of all stakeholders are protected.
“It is not in the interest of any stakeholder – including creditors, and the country – for the SA Post Office to be liquidated. The organisation’s role in the delivery of services to the citizens of South Africa cannot be overemphasised. The SA Post Office is following all the necessary legal steps to have this matter resolved as soon as possible,” the statement read.
Sapo said it was confident that its turnaround strategy would be successful.
“The SA Post Office remains confident that its turnaround plan: The Post Office Of Tomorrow Strategy is sound – and will indeed achieve its objectives. The shareholder has also demonstrated its support of this exciting strategy, by facilitating funding of the entity to the tune of R2.4 billion with the National Treasury, to enable it to settle some of its historical creditors, while implementing the strategy towards sustainability,” it said.
Cape Times