South African Post Office Presentation to Portfolio Committee for Communications 23 September 2003 M

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South African Post OfficePresentation to
Portfolio Committee for Communications23
September 2003Mr. M. ManyatsheGroup Chief
Executive Officer
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Presentation Overview

• Objective of the presentation
• SAPO History Recap
• Brief History
• SAPO Major Liabilities
• SAPO Turnaround Progress
• Key Achievements Addressing Legacy Obligations
• Key Achievements
• Current Initiatives
• Future Planned Initiatives
• Going Concern Letter of Support
• Financial Information

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Objectives of the Presentation

• The objective of this presentation is to share
  our progress re turnaround of South African Post
  Office
• To solicit support and commitment on the
  resolution of historical obligations
• To share and solicit support re future plans
• Present the financial results for 2002/03

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SAPO History Recap

• A government institution fully funded re
  operating expenditure and capital expenditure
• A continuous loss making organisation with no
  plans towards turnaround
• An organisation lacking business and financial
  discipline and control
• An organisation that neglected good corporate
  governance
• An organisation that had eroded its trusted
  party status
• An organisation that did not reflect the race
  demographics of our country (at various decision
  making levels)