Browsing: Net1

The US Securities and Exchange Commission has decided to not to prosecute Johannesburg- and New York-listed electronic payments specialist Net1 UEPS Technologies over allegations that the

Electronic payments company Net1 UEPS Technologies has chosen to withdraw from an upcoming social grants tender process following years of controversy. In April last year, the constitutional

Corruption Watch has filed papers in the high court seeking the reversal of a payment of R317m to Net1 UEPS Technologies subsidiary Cash Paymaster Services by the South African Social Security Agency

JSE-listed Net1 UEPS Technologies, the company running South Africa’s disputed social grants system, on Thursday announced plans to expand its operations in the UK with the establishment of a new subsidiary called Zazoo. Zazoo, headed by MD

Leading payment systems provider Net1 has ignored demands by the minister of social development to stop lending to social grant recipients and is continuing to grant loans to some of the country’s poorest citizens. Net1 UEPS Technologies wholly owns Cash Paymaster Services (CPS), which in 2009 was awarded a tender to distribute R10bn worth of social

The South African Social Security Agency (Sassa) and its agent, Cash Paymaster Services (CPS), are railroading state welfare recipients into using Vodacom Sim cards through an exclusive partnership between the two companies. The partnership has the potential to drive millions of beneficiaries into Vodacom’s arms on the back

A solar-powered lamp, which doubles as a cellphone charger and as a fully fledged Wi-Fi hotspot, could soon bring safe lighting to poor users in South Africa and elsewhere on the continent. The next model, also due for release soon, will offer wireless broadband. The “solar jar” project is the

If you listened only to social development ­minister ­Bathabile Dlamini and the South African Social Security Agency (Sassa), you might believe that last week’s ­constitutional court judgment vindicated the agency. Rather, Sassa should be seriously embarrassed, and the judgment should give rise to grave concern about how the agency is

The share price of Net1 UEPS Technologies plummeted in Johannesburg and New York on Thursday afternoon after the constitutional court ordered that a tender for the management of South Africa’s social grants system be carried out again. The R10bn contract had been awarded to Net1 subsidiary 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