Grindrod MD, David Polkinghorne, says it knows the ropes of the system, so would be happy to continue — and it does not earn much, if any, interest from transactions

David Polkinghorne is managing director of Grindrod Bank. BUSINESS DAY TV: Magda Wierzycka, who is the CEO of Sygnia, has written an article highlighting that one of the parties that has remained silent in the raging South African Social Security Association (Sassa) debate has been Grindrod Bank. But today the company has come forward saying that it will still need Net1 support to continue providing the banking services that 17-million welfare grant recipients rely on every month. With Net1 CEO adamant that the deal must be decided on soon or else payments can’t be made, where does this leave Grindrod? Well, joining us is the MD of the Bank, David Polkinghorne. So yes, notwithstanding the political implications of this contract, we certainly would like to continue and feel we have a role to play with it. BDTV: You allude to the efficiency of the system and the fact that it’s been going without a hitch — could you potentially tender for the social grant contract on your own because s...

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