Acts Online
GT Shield

South African Postbank Limited Act, 2010 (Act No. 9 of 2010)

Chapter 1 : Interpretation and Object of Act

2. Object of Act


The object of this Act is to provide for the incorporation of the Postbank Division of the Post Office as a legal person with the aim of—

(a) conducting the business of a bank that will encourage and attract savings amongst the people of the Republic;
(b) rendering transactional services and lending facilities through, amongst others, existing infrastructure of the Post Office;
(c) expanding the range of banking services and developing into a bank of first choice, in particular to the rural and lower income markets as well as communities that have little or no access to commercial banking services or facilities;
(d) promoting universal and affordable access to banking services;
(e) ensuring that the rates and charges of the Company take into consideration the needs of the people in the lower income market; and
(f) ensuring lending to rural and lower income markets.