SA Post Office swimming in debt, blames COVID-19 pandemic
The SA Post Office's financial situation has become so dire it's temporarily closed 53 of its branches as debt nears 2 billion rand.
It owes creditors 1.7 billion and is struggling to pay service providers.
The South African Post Office says it's currently unable to pay rent at 53 of its branches.
It says it's negotiating with landlords to have them reopened.
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Its statement doesn't identify the branches that have been temporarily shut.
It's also not yet clear what services, if any, have been affected. But there will be some concern as many citizens in KZN and other parts of the country rely on post offices for the collection of their social grants.
The South African Post Office has blamed the pandemic and lockdown for its financial position.
