Serge Belamant decries ‘frivolous’ attacks on Net 1
Net 1 UEPS Technologies CEO Serge Belamant complained of "frivolous and unsubstantiated public attacks" in his commentary in the company’s March quarter results released on Friday morning. Net 1 is the holding company of Cash Paymaster Services (CPS), which controversially continues to dispense welfare payments on behalf of the South African Social Security Agency (Sassa) despite the Constitutional Court ruling its contract invalid in 2014. "Our technology continues to save the South African government an estimated R2bn per annum through the identification and removal of fraudulent beneficiaries," Belamant said.
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