Post Office Now Insolvent

By: Zilungile Mkhize

Auditor-General Tsakani Maluleke has found that the South African Post Office incurred irregular expenditure of over R200 million.

Maluleke says the Post Office is now insolvent after incurring fruitless and wasteful expenditure exceeding R26 million.

In the latest SAPO annual report, the AG gives SAPO a disclaimer opinion because she cannot obtain enough audit evidence to confirm the reasonableness of management’s assessment of the post office.

Meanwhile, the Communication Workers Unions’ Aubrey Tshabalala says SAPO’s problems are deeper than what is reported, with workers suffering the most from its financial problems.