Communications minister Mondli Gungubele said government is working to save the South African Post Office.
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The Post Office, which is facing liquidation, has not been paying over pension contributions in spite of a court order to do so.
Government has requested more information from the state-controlled Post Office about financial problems that threaten its survival.
Mark Barnes, the former Post Office CEO who 18 months ago proposed a solution to bail out the failing state-owned entity, is not giving up.
Despite a R2.4-billion February bailout from national treasury, the Post Office is struggling to keep its head above water.
The South African Post Office plans to reduce its working hours and retrench employees in a bid to cut its wage bill.
Most of the money stolen came from the Sassa beneficiary grant payment system, CEO Lucas Ndala said.
The Post Office will no longer pay beneficiaries of the social relief of distress R350 grant at its branches, blaming long queues for the decision.
The Post Office has warned customers of fraudulent e-mails that are designed to make the receiver pay money into a scam account.
Khumbudzo Ntshavheni has notched up a couple of successes on her watch. But the communications minister now risks making a hash of things.