WILLEMSTAD – Corporate governance advisor SBTNO is calling for stronger financial discipline and a new strategic direction for C-Post after expressing concerns about the postal company’s continued dependence on government support.
The advisor has recommended that the responsible minister require C-Post to implement a comprehensive recovery strategy focused on cost control, commercial growth and improved financial management.
A key recommendation is the development of a revised strategic plan containing clear objectives and measurable results. These agreements should be formalized through a management agreement between the government and C-Post.
SBTNO also wants C-Post to establish an official dividend policy and financial balance standards. According to the advisor, clearer financial rules are needed to ensure that the company operates responsibly and transparently as a government-owned entity.
Another concern highlighted by SBTNO is the accumulation of unpaid government-related obligations. The postal company’s outstanding payments for wage taxes, social premiums and vehicle taxes reached approximately ANG 7.4 million in 2024.
The advisor believes C-Post must be held accountable for these arrears and must develop a plan to resolve them.
At the same time, SBTNO recognizes that C-Post operates in a changing market. Traditional letter services continue to decline, while digital services, package delivery and other commercial activities offer opportunities for future growth.
The challenge for C-Post is therefore to transform from a traditional postal organization into a broader logistics and service provider.
The company’s financial results show the difficulty of this transition. While government support temporarily improved the 2023 figures, the 2024 loss and negative equity position demonstrate that structural reforms remain necessary.
SBTNO’s recommendations reflect a broader issue facing government-owned companies in Curaçao: balancing public responsibilities with the need for financially sustainable operations.
The government must now decide how to implement the proposed measures and whether C-Post can achieve long-term stability through internal reforms or requires additional structural intervention.