The enterprise rescue practitioners in control of saving the South African Publish Workplace have on two events approached authorities for permission to promote a few of the firm’s property and to go the open marketplace for funding in an effort to salvage the embattled entity’s funds. They have been rejected on each events.
That is in line with Publish Workplace joint enterprise rescue practitioner Anoosh Rooplal, who spoke solely to TechCentral this week in an episode of TechCentral Present to be revealed within the coming days.
“There are particular constraints which have been positioned on the enterprise rescue practitioners. In a typical enterprise rescue – and after I say ‘typical’, I imply one that isn’t ruled by the general public sector – rescue practitioners would ordinarily be free to borrow cash externally and to promote property,” stated Rooplal.
“We wouldn’t actually need different permissions as a result of we’d have all these powers, however the Public Finance Administration Act trumps all of this.”
In contrast to the personal sector, the place solely chapter 6 of the Firms Act governs the enterprise rescue course of, public sector entities are sure by the PFMA and should search permission from authorities to train sure powers.
Rooplal, who’s director and head of company finance and restructuring at SNG Grant Thornton, stated authorities is a novel shareholder in that it’s on the similar time an get together within the Publish Workplace’s enterprise rescue and “additionally they set the principles and insurance policies”.
Hanging within the steadiness
The corporate’s destiny hangs within the steadiness now after Rooplal and his affiliate, Juanito Damons, made it clear to parliament not too long ago that the entity can not keep away from liquidation with out a additional R3.8-billion in funding – that is on high of a R2.4-billion funding tranche obtained for the reason that entity entered enterprise rescue. After three years of creating no point out of the Publish Workplace within the funds speech, nationwide treasury in December 2025 made it clear the funding wouldn’t be forthcoming, in line with Rooplal.
Learn: Publish Workplace on the point of collapse
The division of communications & digital applied sciences in November final 12 months issued a request for data inviting potential personal sector companions to suggest integrations with the Publish Workplace. Rooplal acknowledged that such partnerships might additionally function a supply of funding for the Publish Workplace’s revival, however there’s a “rooster and egg” downside hampering these initiatives.
Rooplal defined that the possible companions pitch concepts with the expectation that Publish Workplace infrastructure is at an ordinary the place they’ll simply plug in and do enterprise, however for that to occur, the entity wants the R3.8-billion it has requested to revitalise its bodily infrastructure and modernise its IT platforms.
“What we discovered was companions weren’t prepared to associate till they may see the infrastructure at a sure stage,” he stated.
As a part of the enterprise rescue course of, the Publish Workplace went by a spherical of retrenchments totalling some 5 000 jobs – round 400 of those have been terminations for misconduct. Its bodily footprint was additionally rationalised, with the variety of open branches dropping from simply over a thousand to 657.
The Publish Workplace nonetheless employs about 5 500 workers. With operations at a close to standstill, salaries have been paid by a R381-million grant from the Unemployment Insurance coverage Fund’s Non permanent Empolyer/Worker Scheme and a R150-million “virement” from nationwide treasury.
Based on a discover revealed within the Authorities Gazette on Tuesday, the Publish Workplace has utilized to communications regulator Icasa for a 25-year renewal of its reserved postal service licence, whilst Roopla and Damons warn they could haven’t any alternative however to file for its liquidation.
Icasa obtained the renewal utility from the Publish Workplace on 30 March 2025 – at some point earlier than the present licence expired. The licence, first granted in 2001, lapsed on 31 March 2025.
The Publish Workplace’s utility seeks approval to offer reserved postal companies for an extra quarter of a century, citing the necessity to guarantee “uninterrupted service supply” throughout the nation, together with in areas lined by its common service obligations.
Liquidation
However with authorities funding not forthcoming and no different choices at hand, Rooplal stated each he and Damons have little alternative left however to provoke liquidation proceedings. Chapter 6 of the Firms Act compels enterprise rescue practitioners to file for liquidation after they see no “cheap prospect of rescue”.
“We requested from the minister to promote property. None was granted, so we haven’t been capable of promote a single asset within the final three years. We additionally requested consent to borrow cash from the exterior market, seeing because the shareholder (authorities) wasn’t capable of fulfil its dedication – that consent was not granted.
Learn: Publish Workplace limps on – for now
“As our sources dwindle and the prospect of funding declines … a dedication of funding has to come back into the enterprise, or we because the BRPs wouldn’t be appearing in one of the best curiosity or in our fiduciary obligation,” stated Rooplal.
TechCentral has reached out to communications minister Solly Malatsi for remark and can replace this text ought to suggestions be obtained. – © 2026 NewsCentral Media
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