Stokvel body claims R630m from Post Office
The Post Office is facing another crippling lawsuit that could see it having to pay R630m for defaulting on a deal that would have seen it sell cellphones through its 1 250 post offices nationwide in partnership with the National Stokvels Association.
According to a Business Day report, this is another of the deals signed by former CE Maanda Manyatshe that fell apart under his successor Khutso Mampeule. The report says court papers outline how the PO signed the deal with Nasasa Cellular on September 13 2004 but then failed to perform its obligations. Crucially, the court papers claim the PO may have lost itself R493m in potential profit-sharing income from the joint venture, which it would have made without taking any risk. Nasasa is seeking an order from the Pretoria High Court forcing the PO to implement this deal. Full Business Day report