SA Post Office to be granted banking license

SA Post Office to be granted banking license

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Significant progress has been made to license the South African Post Office as a fully-fledged state bank before the Post Bank becomes the primary distributor of social grants from April 2018.

ANC committee on communications head Jackson Mthembu, who was speaking at a briefing on policy matters in the run-up to the ruling party’s 54th national conference next week, expects this process to be completed soon.

“The South African Post Office has been stabilised with adequate capacity at management and board level,” he said.

Mthembu further called on government, as a whole, to “move with speed” to ensure that the Post Bank shall be first choice for government and the primary platform for government and citizens’ transactions.

He said that he plans to present a proposal to the ANC national conference next weekend to ensure that all government spheres, including provincial and local governments, should use the Post Bank as their bank of choice.

https://businesstech.co.za/news/banking/214905/plans-to-make-sa-post-office-an-operating-bank-before-april-2018-report/

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