Former CEO Mark Barnes Offers To Purchase The South African Post Office
Former CEO Mark Barnes Offers To Purchase The South African Post Office. Former CEO Mark Barnes has expressed his interest to purchase the South African Post Office. He seeks to turn it around so that it can become a profitable business venture.
In a letter published by Business Day Barnes said, “I therefore seek your support (and that of government as a whole) in implementing a new deal within the elements of design set out below: I, Mark Barnes, will lead a consortium that will offer to purchase at least 60%, but no more than 75%, of the SA Post Office; 10% of the total issued shares in the post office will be allocated directly to employees (current and future).”
Barnes continued to say, “I believe I still have the support of all principal stakeholders in the post office, including the employees and unions (despite detractors, as there may still be within the department), and I believe that with an appropriate structure and the right leadership the post office can provide the prospect of economic dignity to its people directly, and be a bridge between government and the population at large, to address poverty, unemployment and inequality in our country, like no other organisation is positioned to do.”
Barnes was the CEO of the Post Office from 2014 to 2019. He resigned before his five-year term had ended after he failed to win the confidence of political leaders for his vision for the Post Office and its subsidiary, Post Bank. Now he is determined to make sure that he acquires the organisation as he believes he can turn it around from its current financial status.
The organisation has been struggling for many years under the ownership of the state and Barnes thinks that private ownership will do the organisation some good as they will be determined to make sure that it generates profit.
