Post Office financial losses underscore the need for review of government ownership
1 June 2022
The dire financial state of the South African Post Office (SAPO) continues to inflict massive inconvenience to millions of citizens who rely on it to access their private mail, social grants and transfer parcels.
The latest annual report of the South African Post Office shows that it suffered a loss of R2.3 billion for the 2020/21 financial year, which marked an increase of R469 million compared to the previous financial year.
Its revenue for the same period declined by R1.2 billion symbolising the public’s increasing vote of no confidence in doing business with the Post Office.
While the Post Office’s massive footprint across the country, more so in poor areas, means it has a far broader reach than its private competitors, years of mismanagement and government under-investment, have relegated it to the brink of collapse.