The object of this Act is to provide for the incorporation of the Postbank Division of the Post Office as a Company and bank controlling company, with the aim of The Company—
[The words preceding section 2(a) substituted by section 2(a) of the South African Post Bank Limited Amendment Act, 2023, Notice No. 3746, GG49374, dated 27 September 2023: effective 19 February 2024, Commencement Proclamation 152, GG50126, dated 15 February 2024]
| (b) | rendering financial services, banking services and lending facilities through, amongst others, the infrastructure of the Post Office and any other means of delivery the Company may deem appropriate for its operational needs; |
| (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; |
| (f) | ensuring responsible lending to rural and lower income markets, and |
| (g) | acting as the commercial bank owned by the State to render financial services and banking services to the public. |
[Section 2(b)(e)(f)(g) substituted by section 2(b)(c)(d)(e) of the South African Post Bank Limited Amendment Act, 2023, Notice No. 3746, GG49374, dated 27 September 2023: effective 19 February 2024, Commencement Proclamation 152, GG50126, dated 15 February 2024]
