The SA Post Office’s debt exceeds its assets by R12.5bn, according to business-rescue practitioners who gave their first update after two months at the helm trying to save the state-owned entity.
In defending the Minister of Social Development, ANC MPL Gladys Bakubaku-Vos said no one could ve anticipated the technical glitches suffered by Postbank.
Thousands of social grant beneficiaries experienced problems with their payouts in September. Minister Zulu blamed this on technical glitches at Postbank.