South African PostBank Opens Vacancies for Directors

INVITATION TO NOMINATE POTENTIAL CANDIDATES TO FILL VACANCIES IN THE BOARD OF DIRECTORS OF THE SOUTH AFRICAN POSTBANK (POSTBANK)

The Minister of Communications and Digital Technologies invites applications from interested and suitably qualified persons to serve as Non-Executive Directors of the South African Postbank (POSTBANK).

POSTBANK is a State-Owned Company (SOC), established with the aim of conducting the business of a bank that will encourage and attract savings amongst the people of the Republic; render transactional services and lending facilities through, amongst others, the existing infrastructure of the Post Office; expand the range of banking services and develop 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; promote universal and affordable access to banking services; ensure that the rates and charges of the Company take into consideration the needs of the people in the lower-income market; and ensure lending to rural and lower-income markets.

To fulfil the objectives of the company, there is a need to obtain a mixed set of competencies, experiences, and skills to strengthen and further enhance the delivery of the overall functions of the Board. The applicants must be people with a high degree of integrity, honesty, transparency, ethical leadership, professional competence, and due care, confidentiality, accountability and must understand the public sector governance and legislative requirements.

Requirements:

The potential candidates must have proven skills, knowledge, qualifications, and experience that would add value to the Company, and are suitable to serve on the Board by virtue of their qualifications, knowledge, skills and experience in any of the following disciplines: –

  • Funding and capital structure- Knowledge of funding through debt and equity capital markets, regulatory framework, knowledge of relevant legislative issues
  • Risk management- credit risk, market risk, liquidity and capital risk, operational risk, and finance and regulatory framework
  • Banking
  • Information Technology
  • Project Management
  • Finance, economics, and accounting-related fields
  • Corporate/ Commercial Law

Applicants must have a minimum of 5 years of Board experience or at least 8 years of experience in an Executive or Senior Management role in the banking sector.

Applicants must have a degree; a post-graduate degree qualification will be an added advantage.

The applicants must provide the following:

A comprehensive curriculum vitae (CV) supported by a motivation why the candidate is suitable to serve on the POSTBANK Board; certified proof of academic qualifications and an identity document (ID).

The CV must include the following information: physical and postal addresses; telephone and e-mail address, previous experience quoting dates, and institutions or organisations concerned.

Disclosure of current and/or potential conflict of interests, including contracts, shareholding, and employment in relation to POSTBANK, in compliance with the requirements of section 50(3) of the Public Finance Management Act and section 75 of the Companies Act.

A letter that expresses reasons for the interest in serving on the Board and explaining whether the candidate was ever disqualified to serve as a director or declared a delinquent director and any information that may assist the Minister in considering the application/nomination.

Preference will be given to candidates whose appointments will enhance the diversity of skills, gender, youth, and disability representation. Preferred candidates will be subject to fit and proper assessment in line with the Banks Act requirements, security clearance, and disclosure of business interests. Correspondence will be limited to the short-listed candidate director only.

Written nominations must be addressed to:

The Director-General, Department of Communications and Digital Technologies
For attention:
Ms. Precious Tsolo, Director: SOE Governance and Support Ground Floor, Block B, iParioli Office Park, 1166 Park Street, Hatfield, Pretoria
or
Private Bag X860, Pretoria, 0001
Email Address:
nedappointmentpostbank@dcdt.gov.za
Enquiries: Ptsolo@dcdt.gov.za or ZMphye@dcdt.gov.za

The Minister of Communications and Digital Technologies reserves the right not to appoint applicants to the Board. CLOSING DATE FOR APPLICATIONS: Monday, 02 October 2023