Latest news with #Sapo
The Citizen
3 days ago
- Business
- The Citizen
Post Office rescue plan is working, but more money is needed
Three creditors still need to be paid a combined amount of R509 million. Pensioners queue outside the Post Office in Westgate, awaiting their payouts. Picture: Devina Haripersad The Business Rescue of the South African Post Office (Sapo) is nearing completion, and the practitioners reported back positive results to parliament. However, a bumpy ride is still ahead. Business Rescue Practitioner (BRP), Anoosh Rooplal and Juanito Damons told the parliament's Communications and Digital Technologies committee that they are 75% done with the handover process to the shareholders of Sapo on Wednesday. However, they need to devise a plan to address outstanding creditors. ALSO READ: More millions to save jobs at SA Post Office Post office debt The committee was told that the Post Office was unable to receive R3.8 billion. Therefore, they are still in discussions with the department regarding an alternative plan to settle outstanding creditors. The creditors that still need to be paid are the South African Revenue Services (Sars), the Pension Fund, and Medipos. The three need to be paid a collective of R509 million. For the financial year 2024-25, the practitioners were able to pay creditors a total of R1 billion. Post office successes The committee was informed that, for the first time since 2012, Sapo had a positive balance sheet with a net asset value (NAV) of R1 billion. Sapo was placed under provisional liquidation in 2023, but thanks to the work of Rooplal and Damons, the entity has been discharged. 'The BRPs applied to have the provisional liquidation order discharged. The matter was heard on 22 November 2024, and the provisional liquidation order was discharged.' The entity is currently paying its liabilities in the ordinary course of business. ALSO READ: Ramaphosa signs Post Office Bill into law Retrenchments The practitioners stated that they issued 4 875 termination letters for employees who were affected by the retrenchment. 'All affected employees' notice period ended on 30 April 2024, and 4 342 employees were retrenched.' Sapo reported that year-on-year expenses of R2.7 billion were reduced by R2 billion, with staff costs being the main contributor to this decrease. As of 31 March 2025, Sapo had 5 592 employees. Additionally, the entity reduced the number of operating branches to 657. Sapo receives money The entity received R150 million from the Department of Communications and Digital Technologies in March 2025. When it comes to revenue, the entity reported year-on-year revenue of R1.7 billion, a decline of R700 million. They attributed this decline to a lack of investment in infrastructure. Achievements The BRP outlined the following goals to be achieved: Improving cash management processes Creditor Compromise Completion of S189 payments (final tranche of settlements) Achieved a target of 657 branches Employee reduction, R1.2 billion annual cost savings Data Centre Migration They are in the process of achieving the following goals: Investment in fleet management systems Strategic partnerships Appointing suitably qualified, skilled and competent management and directors Outstanding goals Statutory and payroll creditors Hardware infrastructure and software applications modernisation Investment in sales and business development team for bulk mail segment Strategic and equitable partnership implementation NOW READ: Parliament discusses SA Post Office's fate a month after 'day zero'
Arab News
23-05-2025
- Politics
- Arab News
Swedish intelligence lowers terror threat level
STOCKHOLM: Sweden's intelligence service said Friday it was lowering its terror alert level from 'high threat' to 'elevated threat,' saying the risk of an attack had subsided. The Swedish Security Service (Sapo) raised the level in August 2023 to 'high threat' — the fourth level on a scale of five — after angry reactions to a series of protests involving desecrations of the Qur'an made the country a 'prioritized target.' 'Propaganda against Sweden has subsided and Sweden is not specifically mentioned as a target,' Fredrik Hallstrom, head of operations at the Swedish Security Service, told a press conference. 'We do not see the same intense flow of attack threats directed at Sweden,' he added. Sapo said it now considered the terror alert level to be at 'elevated threat' — the third level on its five-point scale. Hallstrom cautioned that with 'an elevated threat, there is room for a terrorist attack to occur.' A series of Qur'an burnings across the country — most notably by Iraqi Christian Salwan Momika — in the summer of 2023 sparked outrage in the Muslim world. It strained relations between Sweden and several Middle Eastern countries, and Iraqi protesters stormed the Swedish embassy in Baghdad twice in July 2023, starting fires within the compound on the second occasion. Momika ended up facing charges of inciting ethnic hatred, but in January of this year he was fatally shot in an apartment just hours before the court was due to deliver its ruling. His co-protester Salwan Najem, also of Iraqi origin, was ultimately found guilty of inciting ethnic hatred during four Qur'an burnings in 2023. Despite the lowered threat level, Charlotte von Essen, head of Sapo, stressed that 'Sweden is in a serious security situation.' 'The worst in many years,' von Essen told reporters. The Sapo chief pointed to the fact that the war in Ukraine was still ongoing. 'Foreign powers — and Russia in particular — are carrying out extensive security-threatening activities in and against Sweden,' she said.
The Citizen
19-05-2025
- Politics
- The Citizen
Top 10 stories of the day: Mayfair fire kills 4 children
Here's your daily news update for Monday, 19 May 2025: An easy-to-read selection of our top stories. In the news today, the Mayfair community in Johannesburg is in mourning after four children, under the age of two years old, tragically died in a house fire on Monday morning. Meanwhile, South Africa's delegation to the United States is en route to its most high-profile diplomatic engagement in recent memory, and the members have had things to say about SA–USA relations in 2025. Furthermore, almost 6 000 South African Post Office (Sapo) jobs will be saved via another funding injection. Weather tomorrow: 20 May 2025 Disruptive rain and damaging winds are forecast for parts of the Western Cape, with officials warning of flooding and travel disruptions. Full weather forecast here. Stay up to date with The Citizen – More News, Your Way. House fire claims lives of four young children in Mayfair The Mayfair community in Johannesburg is in mourning after four children, under the age of two years old, tragically died in a house fire on Monday morning. The City of Johannesburg Emergency Management Services (EMS) responded to a house on fire near 8th Avenue and West Street at around 11am. Picture: Supplied. EMS spokesperson Robert Mulaudzi said that upon arrival, the firefighters found the house on fire, and they started firefighting operations. 'While conducting a search and rescue operation, four bodies of young kids ranging from two years and below were recovered. Unfortunately, they were confirmed dead on the scene by Gauteng EMS paramedics,' Mulaudzi said. CONTINUE READING: House fire claims lives of four young children in Mayfair What those on the plane to Washington said prior to Trump-Ramaphosa showdown South Africa's delegation to the United States is in transit en route to its most high-profile diplomatic engagement in recent memory. President Cyril Ramaphosa is leading a team of four ministers this week for bilateral discussions with the Trump administration. President Cyril Ramaphosa in the Oval Office in 2022. Picture: AFP / Saul Loeb The president is set to meet his US counterpart on Wednesday in Washington, and the nation is eager to see how the heads of state's contrasting personalities mesh. The delegation consists of Minister of International Relations Ronald Lamola, Agriculture Minister John Steenhuisen, Trade and Industry Minister Parks Tau, and Minister in the Presidency Khumbudzo Ntshavheni. CONTINUE READING: What those on the plane to Washington said prior to Trump-Ramaphosa showdown More millions to save jobs at SA Post Office Almost 6 000 South African Post Office (Sapo) jobs will be saved via another funding injection. Sapo and the Unemployment Insurance Fund (UIF) agreed on a deal to fund employee salaries while the government works to restore the postal service's fortunes. Picture: The Citizen / Michel Bega The agreement between the two government entities will see the return of the Temporary Employer-Employee Relief Scheme (Ters) used during the 2020 global health pandemic. The Ters scheme will inject R381 million into the post office over the next six months to assist 5 956 employees. CONTINUE READING: More millions to save jobs at SA Post Office Chiefs coach Nabi – 'This news is bad for me' Kaizer Chiefs head coach Nasreddine Nabi has denied that he is set to be sacked at the end of this season. A report in the Sunday Times on May 11 claimed Nabi was going to be dismissed, even after winning the Nedbank Cup. Nasreddine Nabi has denied he is set to be fired by Kaizer Chiefs. Picture: Backpagepix 'This news came from journalists, not from the club. Why all the time is it 'Nabi, Nabi, Nabi,' for what? All of Africa has been calling me to come coach them, thinking I'm a free agent,' Nabi told journalists on Saturday, after Amakhosi's 1-1 Betway Premiership draw with Sekhukhune United at the Peter Mokaba Stadium in Polokwane. CONTINUE READING: Chiefs coach Nabi – 'This news is bad for me' Will Ramaphosa testify in Phala Phala trial? NPA clears the air At least 22 witnesses are lined up to testify in the Phala Phala trial, the National Prosecuting Authority (NPA) says. Imanuwela David, Ndilinasho Joseph and Froliana Joseph appeared in the Modimolle Magistrate's Court on Monday in connection with the theft $580 000 (about R10.4 million) at President Cyril Ramaphosa's farm in February 2020. The entrance of President Cyril Ramaphosa's Phala Phala game farm in Limpopo. Picture: NPA Limpopo spokesperson Mashudu Malabi-Dzhangi said the 22 witnesses lined up for the trial showed that the state had a strong case against the three. However, the president will not be among the witnesses. 'We can get someone from the farm. It could be a manager or administrator to be part of the trial, not the president,' Malabi-Dzhangi told the SABC. CONTINUE READING: Will Ramaphosa testify in Phala Phala trial? NPA clears the air Here are five more stories of the day: Yesterday's News recap READ HERE: Top 10 stories of the day: Omotoso deported | ANCWL deputy president dies | SANDF troops in DRC
Al Jazeera
19-05-2025
- Al Jazeera
A father's fight to find out what happened to his son who joined ISIS
Stockholm, Sweden and Northeast Syria - In late September 2014, Aaden*, a sociable, middle-aged father of five, got a call from two intelligence agents asking to meet with him. The two casually-dressed women from the Swedish Security Service (Sapo) were polite and reassuring. They were responding to a panicked call Aaden had made to emergency services about a week earlier. He had phoned for help after his son Damaal* called him from southern Turkiye to say he was about to cross the border into Syria to join ISIL, also known as ISIS. "But you'll die!" Aaden had pleaded with his son. "Maybe. But I'm strong, thanks to you," came the response. Frustrated, Aaden asked the Sapo agents to help him understand how Damaal was "radicalised". They told him they were as surprised as he was. Damaal, unlike many other ISIL recruits, had never been flagged in their system. Urging Aaden to contact them if he heard from Damaal, they said goodbye. It would not be long before they spoke again.
TimesLIVE
19-05-2025
- Business
- TimesLIVE
SA Post Office to get R381m from UIF, says minister Nomakhosazana Meth
The Unemployment Insurance Fund will inject R381m into the SA Post Office (Sapo), says minister of employment and labour Nomakhosazana Meth. This will be done via the temporary employer-employee relief scheme over six months. She said the intervention is designed to provide immediate financial relief to 5,956 employees while "enabling Sapo to implement a sustainable turnaround strategy". The state-run postal service was placed under business rescue in 2023, with millions owed to creditors.
