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Banking. POST OFFICE TAKES MZANSI LEAD.
(From Financial Mail)
Byline: Chris Gilmour
Banking POST OFFICE TAKES MZANSI LEAD Though out of the public limelight, the Post Office's Postbank has been the driving force behind the success of the Mzansi initiative to provide banking services to SA's poor.
Postbank estimates that up to 40% of the Mzansi account market are its customers. According to CEO Khutso Mampeule, at the end of March this year Postbank had R2,3bn in deposits from about 3,8m account holders. The number of account holders has almost doubled in the past year. The bank is a registered savings institution that operates as a division of the SA Post Office. Its products and services …
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