As a result of not receiving their social grants in time, South African Social Security Agency grant beneficiaries have been contacted by Postbank. The system faults have been fixed and all branches are open for business as of Monday.
The utility has been unable to deliver grants on time due to glitches in the banking system.
The company threatened to shut down its IT systems last week because of an outstanding R225 million debt owed to Telkom.
The South African Postal Service reported a loss of around R 2 billion in its latest financial year, placing the organization in financial distress.
An estimated ten million social grants are distributed by the state-owned enterprise throughout the country
The company is also owed R960 million by Telkom for a contract with its IT department.
There is a threat that the contract will be terminated this year due to issues with the postal service and debt problems.
In light of the weekend shutdown of post offices, Postbank spokesman Bongani Diako said the performance of the system will be monitored. There are millions of people in our country who rely on social grants.”