Exciting news for the economy of Gauteng! Premier Panyaza Lesufi’s vision for a state-owned bank is progressing, following his initial idea introduction in November 2022. The aim is to provide increased financial access to historically disadvantaged groups, such as black people, youth, and women.
Lesufi’s appointment of former finance MEC Jacob Mamabolo to investigate the implementation process has resulted in overcoming legal hurdles and establishing a solid framework for the bank. Mamabolo expressed confidence in the progress, stating, “We are now in a better position to move forward.”
However, the initiative has sparked debate on social media, with some expressing concerns about past scandals like that of VBS Bank. Nonetheless, others have highlighted the ongoing efforts of Postbank to become a state bank.
What are your thoughts on this development? Share your reactions and stay tuned for more updates!
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