The Post Office has entered business rescue, resulting in substantial financial losses of about R4bn and the potential loss of 7,000 jobs within its subsidiary, Postbank. Adding to the bleak situation, the group’s deposits — totalling just more than R8bn — lacks legal protection. Moreover, doubts persist regarding Postbank's eligibility as a fully fledged state-owned bank.
Business Day TV spoke to Business Day business writer Katharine Child for more insight.
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