Cape Town – Communications and Digital Technologies Minister Stella Ndabeni-Abrahams has named Darwin Zinzile Nkonki the new chairperson of the Postbank board.
Nkonki is one of four incoming board members at the Postbank following approval by the Cabinet.
The other board members are Leigh Hefer, Gcobani Mancotywa and Thabile Wonci.
Ndabeni-Abrahams said Nkonki was a highly qualified executive with more than two decades of experience in the financial service sector.
He holds an MBA and is a fellow of the Chartered Institute of Secretaries (FCIS) (SA) and Institute of Bankers in SA (Fibsa).
Ndabeni-Abrahams said all the four incoming board members successfully underwent due diligence assessments by the South African Reserve Bank and the Auditor-General.
The minister has asked the incoming board members and the chairperson to protect the integrity and profitability of the Postbank at all times.
“As its core mandate, the Postbank is positioned to be a critical element of the financial inclusion imperative in the country. The country faces a number of social and economic ills, which include economic inequality,” Ndabeni-Abrahams said.
“Through the promotion of financial inclusion, the Postbank plays an important and contributing role in addressing these challenges and, in particular, the issue of economic inequality,” she said.
The Postbank has more than 6.2 million accounts, excluding Sassa beneficiary accounts, a core deposit base that exceeds R5.9 billion and more than R3.5bn in capital reserves.
The Postbank is a subsidiary of the South African Post Office SOC Ltd and has been profitable for more than 10 years.