SAPO set to announce strategic partner as Treasury's R3.8bn funding falls through

THE South African Post Office (SAPO) is preparing to announce a strategic investment partner as it moves closer to exiting business rescue — a turnaround now proceeding without the R3.8 billion in funding initially promised by the National Treasury.

- BANELE GININDZA

Briefing Parliament's Portfolio Committee on Communications and Digital Technologies on Friday, the department's Director-General Nonkqubela Jordan-Dyani confirmed that invitations for potential partners had been published to ensure transparency, even though several investors had already expressed strong interest.

"The reason we want to advertise is purely from a transparency perspective. There are so many partners who are absolutely keen to come on board to partner with SAPO.

“What we are afraid of, in terms of considering the unsolicited bids, would be if something else is also out there," Jordan-Dyani said.