South Africa Moves to Address Retail Savings Bonds Technical Glitches

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National Treasury on Tuesday said Technical difficulties currently affecting Retail Savings Bonds are receiving attention.

National Treasury assured RSA Retail Savings Bonds investors that technical difficulties that are currently affecting Retail Savings Bonds, including the helpline, queries, emails and website, are urgently receiving attention.

“Retail Savings Bonds services have been affected by technical difficulties over the past few weeks and National Treasury would like to give the assurance that IT personnel are prioritising the issue,” said Treasury.

Treasury said the Retail Savings Bonds directorate has been in the process of migrating to a new back office system that will improve efficiencies, allow for better functionalities, as well as cater for additional products in the future and all-round-service.

“Unfortunately, there have been unanticipated challenges to the new system.

“We are aware and acknowledge the recent frustrations of our investors and the slow service rendered, and we therefore extend our sincere apologies. We assure you that the Retail Savings Bonds remain the smart way to save.

“It further added that all investments are safe and accessible as per our terms and conditions.

“We remain committed to this objective, and we strive for better service every day,” said Treasury.

The government’s Retail Savings Bonds, which are under the administration of the National Treasury, were launched in 2004 to provide products that are risk-free, safe and backed by the full faith of the government.

Over the past few years, the RSA Retail Bonds has done its best to provide a service that is true to the Batho Pele principles, and the ethos of providing quality service to investors.

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