Postbank chair resigns amid grant payment chaos
Postbank chair Thobile Wonci and two other non-executive directors have resigned from the state-owned bank, blaming Communications Minister Mondli Gungubele "oppressive and hostile attitude".
In their resignation letter to Gungubele dated 12 September; Wonci, Advocate Leigh Hefer-Hendrikse, and Martin Mahosi all accused Gungubele of interference and exerting undue pressure on the board.
Wonci said he and the other two directors cannot, in good conscience, continue to be associated with an institution whose board continues to be undermined and disrespected.
"Over the years, we have dedicated our time, energy, and efforts towards serving the bank with utmost commitment and passion.
"We have strived to uphold the highest standards of ethics and integrity, always working in the best interests of the bank and its stakeholders.
"Our common goal has been to contribute to the growth, stability, and success of Postbank.
"However, recent events and unfortunate circumstances between the minister and the board have compelled us to make this difficult decision.
"There is absolutely no self-respecting board that can perform any meaningful work with the level of external interference, undue pressure and influence that our board has endured over the past couple of months. This obviously has deeply disturbed us."
The signatories added in the letter that they believe they have done everything within their power to "manage and ameliorate consequent risk to the bank and hardship that would ultimately be suffered by the most vulnerable stakeholders of the bank, especially grant recipients".
"Our commitment to the bank has always been driven by a deep sense of responsibility towards our beloved country and its people, our stakeholders, Postbank's staff members, its esteemed clients and grants beneficiaries, and it is with this same sense of responsibility that we tender our resignation.
"This decision to resign from the organisation for which we have worked so hard to ensure it delivers its mandate, particularly to the majority of the vulnerable South Africans, the grant beneficiaries, was not reached lightly. We understand and accept the implications of this decision," said the board.
Gungubele and Social Development Minister Lindiwe Zulu are expected to address the media on Thursday afternoon over continued problems with the payout of Sassa grants that continue to plague the post office.
Last week, a technical glitch led to the late payment of monthly grants.
