COMPILED BY ANGELIQUE RUZICKA
SA POST OFFICE SET TO LAUNCH BANK
The banking sector is going to get more competitive if Mark Barnes, the CEO of the SA Post Office, launches Postbank in mid-2017 as projected. A document handed out in Parliament at the end of last month showed that the SA Post Office intends to register its financial services unit, Postbank, as a bank by July 3.
Loan providers should also be worried.
Barnes said: “We want to be able to lend money and want to apply for a fully fledged banking licence. We want to help fund small and medium enterprises, and the unbanked [people] in rural areas.
“We have more branches and clients in the rural sector than the other banks, and Postbank has R1.4 billion in excess capital.”
The restructuring of Postbank, if done correctly, could give the ailing SA Post Office the boost it needs. Barnes confirmed that the SA Post Office would most likely also become a distribution hub for SA Security Agency grants.
“We still have a long way to climb. Mail is a declining business, so we need to find other avenues for growth,” added Barnes.
FSB ISSUES WARNING
The Financial Services Board (FSB) is warning members of the public not to deal with AHFS Risk Management Services Limited because it claims to be an authorised financial services provider when it is not.
It quotes Financial Service Provider (FSP) number 1623, which is in fact allocated to Surelink Short Term Insurance Brokers.
Meanwhile, Surelink Short-Term Insurance Brokers told the FSB that it did not have any relations with AHFS Risk Management Services Limited, and had not authorised the company to use its FSP number.
If you have any concerns over the legitimacy of a business or the authenticity of its FSP number, contact the FSB for free on 080 011 0443 or via the website fsb.co.za to find out whether or not an institution or person is authorised to render financial services.