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
Browsing: Serge Belament
Johannesburg- and New York-listed Electronic payments specialist Net1 UEPS Technologies has failed to conclude a black economic empowerment deal, blaming investigations around its winning of a multibillion-rand tender for the payment of South African social grants. A one-year option
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
Absa subsidiary AllPay has accused the SA Social Security Agency (Sassa), of an irregular tender process wherein the company’s score was “inexplicably” lowered so that its competitor would win the R10bn contract. This was contained in a supplementary founding affidavit filed by AllPay earlier this month. The Absa division responsible for paying out social grants filed
JSE- and Nasdaq-listed Net1 UEPS Technologies, which recently concluded a R10bn deal with government to manage the payment of social grants, has reached an agreement to sell up to 19,9% of its equity to black shareholders in a deal worth up to US$80m (R625m). The deal will “strengthen the development
Cash Paymaster Services (CPS), a subsidiary of Nasdaq- and JSE-listed electronic payments company Net1 UEPS Technologies, has been awarded a five-year contract worth R10bn by the SA Social Security Agency. The will see CPS providing payment services for SA social grants across the country. The award