Chairperson and hon members, I do not serve on this committee. My colleague the hon Rev Zondi does, but I do come here on behalf of the IFP to unreservedly support this Bill with a clear conscience. [Applause.] As we have heard from the Minister, this Bill ushers in a new era of personal banking and financial services, an era in which personal banking and financial services will be available and accessible to every South African.
Now, we have heard the argument as to why this shouldn't go to private banks. Why shouldn't private banks do this? Private banks and their accessibility in rural areas is something that leaves a lot to be desired. They are few and far between in the rural areas. In fact, many of them have closed down agencies and do not even provide ATMs in the rural areas. So, I do not believe that we should be relying on private banks; we should rather use this as an initiative to promote economic growth, especially amongst our people in the rural areas. [Applause.]
As you walk into Parliament, you notice the Postbank and a sign that says: Post Office Savings Bank. The fact that this should be savings driven has been emphasised, but what I am afraid of is that a culture of saving does not seem to be inculcated in our younger society nowadays. When I was in class some 50 years ago and when I first went to school, the principal of the school used to sell us stamps for which we used to pay a tickey each, and we used to stick those stamps on a card. When the card was full, we would take it to the Post Office where they would enter one pound in our bank. Fifty years later, I still have my savings bank account and my book with me.
Hon Minister, I don't see any Ministers of Education here in the House. Maybe they should start inculcating a culture of saving amongst the youth, even if it is 50 cents or one rand a week. As they grow up, this culture will be inculcated in their minds. [Applause.] This is something that we hope the Postbank encourages and does, and that it works very closely with the education sector. We will support the Bill. Thank you. [Time expired.] [Applause.]