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Post Office faces a grant payment crisis as it begs for R1 billion

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The cash-strapped SA Post Office is begging its own subsidiary, Postbank, for R1 billion to enable it to process 13 million social grants in a week’s time.
The cash-strapped SA Post Office is begging its own subsidiary, Postbank, for R1 billion to enable it to process 13 million social grants in a week’s time.
Misha Jordaan

NEWS

When the Post Office took over from Net1’s Cash Paymaster Services as the primary distributor of social grants, Postbank pre-funded the grant payments and was fully reimbursed four days later by National Treasury.

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