JOHANNESBURG – Government says the mass exodus of Postbank board members will not affect the running of the social welfare grant distributor.
Earlier this month, five of the eight board members resigned from Postbank, however, the ministry of communications said they were fired over issues relating to awarding of contracts.
Their resignations came a few days before it was announced that about 500,000 grant beneficiaries were not paid by Postbank.
The state-owned bank is currently under administration while the government searches for new board members.
Speaking during a media briefing in Pretoria on Thursday, Communications Minister Mondli Gungubele said the board was an oversight body and had minimal effect on the daily running of Postbank.
“In the interim and to ensure that decisions that reside with the delegated authority of the board are enabled, the ministry has appointed Mr Khayalethu Ngema as the Postbank administrator until the new board has been appointed, which will happen soon.”