Net1 said on Tuesday it had delayed submitting its company filings in the US after the Supreme Court of Appeal ordered it to pay back R317m to the SA Social Security Agency (Sassa).

The JSE and Nasdaq listed technology group had gone to court to appeal against a 2018 judgment setting aside an agreement between its subsidiary, Cash Paymasters Services (CPS), and Sassa to biometrically re-register about 11-million grant recipients.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now