SA Post Office could soon have banking licence

SA Post Office chief executive Mark Barnes says he believes the organisation will become a critical element in financial inclusion in the country.

A screengrab of new CEO of the South African Post Office, Mark Barnes.

PRETORIA - South African Post Office (Sapo) chief executive Mark Barnes says he believes the organisation will become a critical element in financial inclusion in the country.

Barnes was speaking at a National Press Club briefing in Pretoria where he's discussed the direction the Post Office is taking.

Barnes took over as chief executive 18 months ago.

He says they’re just months away from obtaining a banking licence.

“We believe that the Post Office will prove to be a critical element in financial inclusion.”

Barnes says it would be naïve to believe in the parastatal’s future if it is only centred on mail delivery.

“What we do believe is that we have an irreplaceable system and structure that enable us to deliver at the lowest unit cost.”

He says the Post Office intends bidding on the distribution of social grants.

(Edited by Shimoney Regter)