The South African Postbank SOC Ltd is a state-owned banking institution in South Africa. It is a division of the South African Post Office, a public entity owned by South African government through the Department of Communications and Digital Technologies (DCDT).
The core function of the South African Postbank is to provide cost-effective financial services to South Africans.
Postbank views itself as a banking and financial services provider that is orientated on the needs of the South African people and protecting their funds.
Mission
The mission of South African Postbank is to provide cost-effective financial Services to appropriate market segments through optimised processes and infrastructure, which include profitable partnerships through skilled and motivated staff backed up by an aligned leadership team.
Mandate
Postbank draws its mandate from the Postbank Amendment Act 44 of 2013, which is primarily the provision of accessible and affordable financial services, including responsible lending, to the unbanked and underserved.
Postbank’s mandate of financial inclusion entails provision of the following services to all South African citizens:
- Grow savings
- Improve welfare
- Create a safe transacting environment
- Improve financial literacy
History
Postbank has its origin rooted deep in South African history back to the year 1875. It was then that that a government bank was first established. Later, it was decided to incorporate this Savings bank into the Post Office.
In 1884, the first Savings Bank was founded in Cape Town and by the end of that year it was possible to open 125 Post Office Savings Banks.
It was only 90 years later, in 1974, that the Post Office took full responsibility for the Post Office Savings Bank and the National Savings Certificates. The first computerisation of the Post Office Savings Bank was completed on 1 October 1974.
In 2003, the Post Office realised that all South Africans deserved a bank and launched its Paymaster to the Nation project where recipients of social grants were able to open a Postbank account.
In 2005 the Postbank became the leading provider of Mzansi accounts in South Africa with more Mzansi account holders than any other bank, which include the big four banks. This is because every Post Office is a Postbank and there are over 2000 Post Offices across South Africa.
It was in 2010 that legislation was promulgated that made it possible for Postbank to change from a deposit-taking institution to a full-fledged bank, opening up the possibility for any South African to save, transact, and invest with minimal hassle and ultimate reward.
Overseeing Department/Entity
Office Bearers/Management
Chairperson
- n/a
Board Members
- Dr Adv Leigh Hefer-Hendrikse
- Mr Gcobani Mancotywa
Chief Executive Officer
- Mrs Nikki Mbengashe
Chief Financial Officer
- Mr Innocent Hlungwani
Chief Operations Officer
- Mrs Eurekha Singh
Chief Information Officer
- Mrs Maphuti Setati (Acting)
Senior Management
- Mr Thamsanqa Cele (Chief Commercial Officer)
- Mr Nimroth Gwetsa (Interim Chief Information Officer)
- Mrs Nokwanda Madondo (Chief: Human Resources Officer)
- Mr Rookeya Salajee (Chief Compliance Officer)
- Mr Wisani Shirinda (Interim Chief Audit Executive)
- Ms Nobuhle Sibeko (Company Secretary)
Communications Officers
- Dr Bongani Diako (Head Communications Officer)
Contact Details
The contact details of the South African Postbank are listed in the table below.
| Physical Address: | 497 Sophie de Bruyn and Jeff Masemola Streets, Pretoria, 0002 |
| Postal Address: | Private Bag X20609, Bloemfontein, 9300 |
| Telephone: | – 0800 53 54 55 – 0800 53 33 50 |
| Customer Care Email: | postbank.enquiries@postoffice.co.za |
| Fraud Email: | fraud@postbank.co.za |
| Tax Certificate Email: | taxcertificates@postbank.co.za |
| Website: | www.postbank.co.za |
