SA Post Office will soon launch it’s own bank institution, as the company re-registers Postbank as a qualified bank.
EWN reports that; The SA Reserve Bank has granted authorisation and will now allow Postbank lend money, operate as a fully-fledged bank and offer savings accounts, banking cards and other services.
Talking to EWN; Telecommunications and Postal Services Minister Siyabonga Cwele says there are still more processes to be completed before Sapo can apply for a license.
“The next step is to approach the board and we think that we can do that quickly then we have to raise a new company.”