No word on how grants will be paid, says Net1 UEPS head
Serge Belamant, the CEO of Net1 UEPS, which controls Cash Paymaster Services (CPS) — the company that distributes social grants — said he had not been given any indication of what the government intended to do when his company’s five-year contract expired at the end of March 2017. Belamant confirmed that his company was prepared to assist the South African Social Security Agency (Sassa) with the transition, which he expected would take 18 to 24 months. "I assume they have some sort of plan to take over on April 1, but we have no indication of what it is," said Belamant. The agency is understood to be in talks with the Reserve Bank, the Treasury and various banks about the monthly distribution of R10bn of social grants to 21-million beneficiaries across the country. Sassa spokesman Kgomoco Diseko would not shed any light on what progress had been made with plans for Sassa to take over the distribution from CPS. However, he did say that Social Development Minister Bathabile Dlamini wo...
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