South African Postbank SOC Ltd
Public Entity · Economic Infrastructure and Development · reports to South African Post Office (SAPO)
The South African Postbank is a state-owned bank, established under the South African Postbank SOC Ltd Act, 2010 and separated from the South African Post Office as a standalone entity.
It was created to extend banking services to people who are unbanked or under-served by commercial banks, drawing on the reach of the postal branch network into rural and township areas. It was granted a banking licence and has since operated as a registered bank rather than as a postal savings service.
It distributes social grant payments to a large number of SASSA beneficiaries through the SASSA gold card, which makes it a significant part of the social security payment system. Government has signalled an intention to develop it towards a fuller state bank offering. It reports to the Department of Communications and Digital Technologies.
Audit record, 5 years
Financial highlights, 2024/25
- Total Revenue
- R1.6bn
- Total Expenditure
- −R1.5bn
- Total Assets
- R9.7bn
- Total Liabilities
- R9.5bn
Values in rand. Sparklines run oldest to newest and are scaled to each series, not to zero.
Leadership, 18 listed
- Chairperson
- Mr Khayalethu Ngema
- Board Members
- Ms Nomonde Yolanda Jekwa Ms Wendy Fikile Majola Mr Ismail Mamoojee Ms Nomfundo Minyuku Ms Kgomotso Joyce Siyila Mr Krishan Sukdev
- Chief Executive Officer
- Mrs Nikki Mbengashe
- Chief Financial Officer
- Mr Innocent Hlungwani
- Chief Operations Officer
- Mrs Eurekha Singh
- Chief Information Officer
- Mrs Maphuti Setati
- Senior Management
- Mr Thamsanqa Cele Mr Nimroth Gwetsa Mrs Nokwanda Madondo Mr Rookeya Salajee Mr Wisani Shirinda Ms Nobuhle Sibeko
- Communications Officers
- Dr Bongani Diako
Description written for this directory from the entity’s own published sources: www.postbank.co.za, www.gov.za