In 2012, when the South African Social Security Agency (Sassa) awarded a crucial social grants contract, its R10bn decision turned mostly on a “key feature” — something that had been offered by just one of the bidders. The contract was for the payment of about 15m in government grants every month
Browsing: Cash Paymaster Services
This time last year, Net1 UEPS Technologies disclosed that it was being investigated by the US justice department under its Foreign Corrupt Practices Act. The R10bn contract awarded by the South African Social Security Agency to one of Net1’s subsidiaries, Cash Paymaster Services
In a victory for Absa and its subsidiary AllPay Consolidated Investment Holdings, the constitutional court has declared “constitutionally invalid” the awarding of a R10bn tender to Cash Paymaster Services (CPS), a subsidiary of the Johannesburg- and New York-listed Net1 UEPS Technologies
The three partners of Cash Paymaster Services were not assessed in a R10bn social grant tender process, the constitutional court heard on Tuesday. “Evidently, the state should not be in the business of awarding multibillion-rand tenders to persons who have no proven, or assessed
The constitutional court will hear arguments on Tuesday relating to the awarding of a social grant tender, which was found to be invalid by a lower court. The unsuccessful bidder, AllPay Consolidated Investment Holdings, argues the tender process was procedurally flawed and unfair, and violated
A court ruling confirming the validity of a tender given to Net1 UEPS Technologies subsidiary Cash Paymaster Services (CPS) for issuing social grants was welcomed by the social development ministry on Thursday. “It has been a long journey through which several
The supreme court of appeal has handed down a judgment in favour of Nasdaq- and JSE-listed payments specialist Net1 UEPS Technologies, dealing a blow to Absa and its AllPay unit, which had earlier won a high court battle over the R10bn government tender for the payment of social grants. Absa claimed
Net1 UEPS Technologies, the company facing a corruption probe by US authorities, including the Securities & Exchange Commission (SEC) and the Federal Bureau of Investigation (FBI), has itself filed a R478m lawsuit against Absa subsidiary AllPay. AllPay, a unit of banking group
JSE- and Nasdaq-listed Net1 UEPS Technologies, which earlier this year won a contested multibillion-rand project to roll out a system for the payment of social grants in South Africa, is now facing investigations by US authorities into whether it made corrupt payments to government officials to secure the contract
Behind the legal storm raging over the recent awarding of a R10bn SA Social Services Agency (Sassa) contract, a far greater prize is at stake: the chance to load microloan and insurance products on to the R105bn the government pays in social grants monthly. Net1 UEPS, the New York-listed parent