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The SA Post Office and the government have ambitions to launch a fully fledged bank that will offer financial services such as loans to the poor and unbanked population – individuals and small business owners who are not catered for by established commercial banks. It’s a big plan that has been in the works since 2015. But the plan has been hobbled by the financial and operational crisis at the Post Office, the state-owned entity that has recorded a 14-year money-losing streak and is financially insolvent. For more than five years, the government has been working to hive off Postbank from the Post Office’s operations – a crucial step for a fully fledged bank to be launched. A separation, which is still ongoing, would help set up an independent bank that is not haunted by the Post Office’s troubles.

South africaPatrice motsepe tymebankMoses ntshabeleNomkhita monaAdrian gore discovery bankSa reserve bankMichael jordaan bankSa reserve bank sarbLand bankDevelopment bankParliament portfolio committee on communicationsIndustrial development corporationDepartment of communicationsNational credit regulatorSa post officeAfrican bank