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Govt gives Post Office a boost

Cape Town - The South African Post Office is to benefit from being given half of the government's shareholding in the country's lottery company, and according to the government spokesman Themba Maseko it will use the money it gets to extend the roll-out of its services to remote rural areas.

Explaining the decision, which was endorsed by cabinet, Maseko said on Thursday that the government's 20% shareholding would be divided equally between the post office and the National Empowerment Fund.

The government decision to hold a fifth of the company's shares was announced when Gidani was first awarded the contract by trade and industry minister Mandisi Mpahlwa in October 2006.

- I-Net Bridge

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