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
Browsing: Sassa
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
The process of awarding a R10bn contract by the SA Social Security Agency (Sassa) to JSE- and Nasdaq-listed Net1 UEPS Technologies earlier this year was “illegal and invalid”, a high court judge has ruled. Judge Elias Matojane found that