The Postbank Ltd Amendment Bill is currently being processed, after being tabled with the National Assembly in May 2022. The aim of the Bill is to turn Postbank into an independent business. Once the necessary licensing has been issued, Postbank will be able to become a fully-fledged state bank. President Cyril Ramaphosa said the bank would “…seek to provide an affordable alternative to commercial banks that often turn citizens away as they lack collateral”.
