It should be frowned upon for a minister or proxy to call a CEO of a state entity enquiring about opportunities for comrades, writes Mpumelelo Mkhabela.
More sun than clouds. Mild.
Minister of Communications Stella Ndabeni-Abrahams says responsibility and control of Postbank has been transferred to the Postbank Board and management in line with section 6 of the South African Postbank Limited Act.
Minister of Communications Stella Ndabeni-Abrahams has said that differences in determining the fate of Postbank were behind the decision of Mark Barnes to resign as CEO of the South African Post Office, and that talks are still underway to determine a path forward.
Chief executive of the SA Post Office Mark Barnes has been summoned by the telecommunications ministry for allegedly dipping into the coffers of its subsidiary, Postbank, and transferring R200m to pay creditors.
Gupta-owned and linked companies were turned away from Postbank, after they requested opening a bank account with the South African Post Office’s bank.
Postbank aspires to lending, while Ithala’s plan is to attract public sector depositors.
The SA Post Office must handle the distribution of social grants from April 1, the SACP has said.
A former Gautrain Management Agency employee and fraud accused could have caused more losses had he not been arrested, the Johannesburg Specialised Commercial Crimes Court has heard.
Communication Workers Union secretary general Aubrey Tshabalala says a proposal to realign Postbank’s shareholding to National Treasury was at odds with best practice globally.
With double the required amount of capital in hand, Postbank says it’s ready to be a fully fledged bank, able to offer loans to a largely ignored market segment.
The South African Social Security Agency (Sassa) will for the first time make electronic payments to approximately two million social grant beneficiaries through its new corporate Postbank account.
The Reserve Bank has confirmed it received a submission from Postbank for a banking licence as the ANC puts pressure on government to speed up the process.
South African Post Office CEO Mark Barnes says the parastatal is “finding it difficult to understand” why it is not tasked with distributing social grants.
The ANC-led government does not want to collapse the banking system, but rather reform it to provide access to previously disadvantaged South Africans, Parliament has heard.
A fugitive who evaded police for two years after allegedly committing fraud worth over R400m has appeared in the Bloemfontein Magistrate's Court.
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