Debtfree Issue 202402 - DB
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POST BANK TO GET<br />
NEW BRANCHES?<br />
Government has expressed the desire to open their own<br />
State Owned Entity (SEO) bank. This has been on the cards<br />
for some time. Currently the closest to that dream is Post<br />
Bank which is part of the SA post office.<br />
Recently Minister of Communications Khumbudzo<br />
Ntshavheni said that Postbank is ready to take up the role of<br />
a “state bank in South Africa”.<br />
While this is not 100% the same thing, and we may still one<br />
day see a SEO bank in operation, plans are in place to try<br />
rescue Post Bank from the sinking ship that is the post office.<br />
Government has even created new legislation so that the<br />
bank can operate independent of the post office and say that<br />
once the SARB issues the right paperwork they plan to open<br />
another 100 Post Bank branches across SA.
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