ANC continues its job-killing spree as further SAPO retrenchments are announced
05 April 2024
It was revealed earlier this week that the South African Post Office (SAPO) has commenced with the retrenchment of 4 700 employees. For those affected, this is devastating news.
Unfortunately, this has been long in the making, as the ANC continues its gross mismanagement of the Post Office. Since 2014, SAPO has received more than R10 billion from the taxpayer, including R2.4 billion in last year’s budget. Yet, despite this, 6 000 jobs have been lost – a number which is now expected to grow to over 10 000. This will mean that for every billion rand spent from the taxpayer, around 1 000 jobs have been lost. This is the ANC’s legacy, and they are solely to blame.
Last year, SAPO was provisionally liquidated, as it could not settle its liabilities of nearly R13 billion. Its branches could not pay rent, and landlords consequently proceeded with court action to recover debt owed. Upon National Treasury’s intervention, assurances of further bailouts were made, and SAPO was placed on business rescue.
Assurances of R6.2 billion were provided to fund SAPO’s business rescue process, to be delivered in two tranches. The first of R2.4 billion was allocated in last year’s budget, as mentioned. A second tranche of R3.8 billion remains, which the country cannot afford, as the ANC has also depleted the national fiscus. The DA unequivocally rejects bailouts at the Post Office, as a waste of hard-earned taxpayer funds that could be used elsewhere.