The Unemployment Insurance Fund will inject R381m into the SA Post Office (Sapo), says minister of employment and labour Nomakhosazana Meth.
This will be done via the temporary employer-employee relief scheme over six months.
She said the intervention is designed to provide immediate financial relief to 5,956 employees while "enabling Sapo to implement a sustainable turnaround strategy".
The state-run postal service was placed under business rescue in 2023, with millions owed to creditors.
TimesLIVE
SA Post Office to get R381m from UIF, says minister Nomakhosazana Meth
Image: Freddy Mavunda
The Unemployment Insurance Fund will inject R381m into the SA Post Office (Sapo), says minister of employment and labour Nomakhosazana Meth.
This will be done via the temporary employer-employee relief scheme over six months.
She said the intervention is designed to provide immediate financial relief to 5,956 employees while "enabling Sapo to implement a sustainable turnaround strategy".
The state-run postal service was placed under business rescue in 2023, with millions owed to creditors.
TimesLIVE
READ MORE:
The Post Office can digitally transform rural SA
UIF embroiled in R800m funding scandal
Drastic decline in use of Post Office
Costly SA Post Office business rescue runs into millions
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