Posta needs re-capitalisation
Aug 13, 2007
POSTA needs re-capitalisation to become profitable, the outgoing board chairperson, Hajati Aisha Lubega, has observed. Handing over instruments of power to the new board chairperson, Engineer Proscovia Njuki, Lubega said due to past turbulences that had led to restructuring and staff lay-offs, the c
By Juliet Waiswa
POSTA needs re-capitalisation to become profitable, the outgoing board chairperson, Hajati Aisha Lubega, has observed. Handing over instruments of power to the new board chairperson, Engineer Proscovia Njuki, Lubega said due to past turbulences that had led to restructuring and staff lay-offs, the company was still paying arrears and litigations.
“Posta had a mass reduction of its staff from 611 to 300,†Lubega said. She said during her four years in office, Posta has had a share capital of sh25b.
Information and communications technology minister, Ham Mulira, said the new board would be faced with challenges like ensuring that the company meets consumers demands and ensuring that vacant posts like that of managing director and corporation secretary are filled promptly.
The post of managing director fell vacant in February when the person holding it, Collins Oneko, resigned due to failure to agree about his employment terms.
POSTA needs re-capitalisation to become profitable, the outgoing board chairperson, Hajati Aisha Lubega, has observed. Handing over instruments of power to the new board chairperson, Engineer Proscovia Njuki, Lubega said due to past turbulences that had led to restructuring and staff lay-offs, the company was still paying arrears and litigations.
“Posta had a mass reduction of its staff from 611 to 300,†Lubega said. She said during her four years in office, Posta has had a share capital of sh25b.
Information and communications technology minister, Ham Mulira, said the new board would be faced with challenges like ensuring that the company meets consumers demands and ensuring that vacant posts like that of managing director and corporation secretary are filled promptly.
The post of managing director fell vacant in February when the person holding it, Collins Oneko, resigned due to failure to agree about his employment terms.