Net1 ‘in the dark’ over grant payment plans
CEO Serge Belamant says the social security agency has not asked for help
Serge Belamant, CEO of Net1-UEPS whose subsidiary Cash Paymaster Services (CPS) is at the centre of the social grant distribution debacle, said on Wednesday the South African Social Security Agency (Sassa) had not yet formally approached them about distributing grants after March 31. "At this point we’re stopping on March 31. It’s not complicated, we don’t have the R10bn that has to be distributed, but I’m sure they’re [Sassa] going to do something within the next few weeks," he said. Belamant said he was surprised by reports that Sassa intended approaching the Constitutional Court for guidance on the way forward. Sassa told a parliamentary hearing last week it would apply to the court on Wednesday, February 8. However, that date was subsequently pushed out to February 15. Last week, opposition parties expressed concern that CPS would have the contract extended to its own advantage seeing that the department was in a desperate position and needed to distribute the grants.It is uncle...
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