Misha Jordaan
The Department of Communications and Digital Technologies said Postbank needs a banking licence to operate independently from the SA Post Office (SAPO), but that SAPO s financial position is hindering the process.
In order to finalise its corporatisation and separation from SAPO, Postbank needs to obtain a banking licence to operate as a fully fledged bank. However, for this to pass, one of the requirements of the SA Reserve Bank is for Postbank to have a bank-controlling company (BCC). But SAPO itself cannot be registered as a BCC because of its poor financial standing.
At a briefing in Parliament on Wednesday, the Portfolio Committee on Communications said the Reserve Bank requested that there be a BCC for the licence-application process. The BCC would act as a holding company for Postbank.
A Prasa engine.
Cabinet has announced new CEOs for the Passenger Rail Agency of South Africa and the SA Post Office, two struggling state entities that have faced a high turnover of top executives in recent years.
Zolani Kgosietsile Matthews has been named group CEO of Prasa, while Nomkhita Mona is the new post office head.
At Prasa, Matthews will take over from acting CEO Thandeka Mabija, the group executive for human capital management, who was appointed as caretaker head in October last year. Matthews is a member of the Independent Communications Authority of South Africa council - its highest decision-making body, and has served on a number of boards.
Cabinet names permanent CEOs for struggling Prasa and Post Office zimbabwestar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zimbabwestar.com Daily Mail and Mail on Sunday newspapers.