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Media Release
The South African Youth Council expresses deep concern and disappointment regarding the collective resignation of the Postbank board of directors, led by its former chairperson. This mass departure has occurred during a critical period when many disadvantaged and discouraged South Africans have been left without their much-needed grants due to the malfunctioning Postbank system amidst a national crisis. This is precisely the moment when we require leaders who embody ethics, principles, and competence, individuals capable of setting aside administrative and internal disputes to ensure that Postbank serves the interests of impoverished and ordinary South Africans. Regrettably, the former board members prioritized their personal careers and demonstrated a profound lack of professional tolerance, patriotism, and a complete disregard for the South African populace. It is crucial to emphasize that serving on our State-Owned Enterprises (SOEs) should not be viewed as an opportunity for personal career advancement or personal achievements. Instead, it should be a commitment to the development of our great nation and to working for the betterment of ordinary South Africans. Therefore, resigning during such a critical juncture is indeed disheartening.
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Furthermore, despite being vehemently against the timing of these resignations, we do believe the mass resignation of the board has been long-overdue, this is a board that oversaw a notably unsuccessful effort to revitalize an organization that has been grappling with challenges for many years. Their most significant shortcoming was their inability to achieve their primary goal, which was to obtain a banking license in 2022. Regrettably, their legacy is now one of considerable disappointment. As South Africans, we held hope that their background and expertise would lead to positive changes, but their lack of patriotism, failure to respect executive authority, and inability to align and work with their political principals, along with their limited commitment to elevating the Postbank into a world-class institution, have resulted in this unfortunate and unwelcome outcome. We now call upon the Ministry of Communications and Digital Technologies to restore public trust by appointing a capable and dynamic board comprised of young professionals possessing the necessary expertise to transform the national treasure that is the Post Bank. This new board should consist of dedicated and patriotic South Africans whose sole focus is the advancement of the South African agenda.
They should have the requisite academic and professional qualifications to effectively oversee the institution. Furthermore, the new board should embrace diversity by including both young professionals and experienced senior individuals who can offer guidance and valuable expertise to the board.
SAYEC stands in favor of establishing a government-owned bank dedicated to providing financial support to historically marginalized groups, primarily focusing on women and young black South Africans. This bank should also extend its support to any government initiatives aimed at assisting the most vulnerable members of society. However, these endeavours should not compromise the principles of competence, efficiency, and the delivery of high-quality services to our citizens.
Numerous pensioners, young mothers, and individuals with disabilities have shared their experiences of the hardships caused by payment delays through various media outlets. Many of them find themselves unable to purchase food for their children and essential items for their families. While this issue has social implications, it is equally an economic concern, as it hinders the most vulnerable from participating in the economy while struggling to meet their basic human needs.
Finally, we urge the Minister of Digital Communications and Technologies, working closely with the Minister of Social Development and the respective Director Generals of these departments, to take immediate action. It is crucial to ensure the swift restoration of our grant payment system's functionality and the appointment of a dedicated board committed to enhancing the efficiency of this payment system. Should Postbank encounter challenges in delivering these services to grant recipients, it should explore the possibility of allowing established commercial banks and retailers, who already have the necessary infrastructure, to continue disbursing grants to individuals who were previously on their systems.
ISSUED BY THE NATIONAL SPOKESPERSON OF SAYEC STHANDIWE MSOMI
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