SAPO banking licence nearing completion

The Post Bank should thus become first choice for government and the primary platform for government transactions

According to Jackson Mthembu, ANC committee on communications head, the South African Post Office (SAPO) could be granted a full state banking licence before it begins distributing social grants in April next year. Mthembu was speaking recently at a conference.

He said: 

“The South African Post Office has been stabilised with adequate capacity at management and board level. We have further made significant progress to licence the Post Bank as a fully fledged state bank and expect this process to be completed soon. We welcome the decision that the Post Bank will become the primary distributor of social grants from April 2018.”

Pictured: Post Office CEO, Mark Barnes