South Africa Post Office to Tap Banks for Funds After State Cash

  • New CEO plans to use $42 million award as base for fundraising
  • Agreeing to deal with labor unions also high on Barnes agenda

The South African Post Office plans to raise further cash from banks and other financial institutions after receiving a 650 million-rand ($41.5 million) cash injection from the government and is targeting a return to profit by 2018.

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