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Loss making South Africa Post Office (SAPO), has confimed that its new CFO, Khathutshelo Ramukumba, quit barely 2 months into his tenure.
Experts say SAPO is struggling due to a poor strategy and brocken systems.
The SAPO board said Ramukumba resigned at the end of December for personal reasons.
The board said the recruitment process has already commenced.
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SAPO has been loss making for the past 20 years and has received over R10 Billion in government bailouts.
Losses.
Over that past 3 years, SAPO has made the following losses :
2020 – R 1.066 Billion
2019 – R 1.11 Billion
2018 – R 1.17 Billion
SAPO is facing bankruptcy and is failing to pay suppliers.
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