Banks cannot be trusted to pay social grants, says ANCWL
ANC Women’s League says banks in SA have shown their greed through the unethical behaviour that has got them into trouble with the Competition Commission
The ANC Women’s League (ANCWL) has come out strongly against outsourcing the payment of social grants to any of the country’s major banks. Banks and the Post Office have been suggested as a potential solution to the payment of grants after the expiry of the contract with Cash Paymaster Services at the end of March. The courts have ruled that the tender awarded to Cash Paymaster Services by the South African Social Security Agency (Sassa) was unlawful. In a strongly worded statement the ANCWL rejected any proposal to outsource the payments to major banks‚ saying that they could not be trusted. "The major commercial banks in SA have proven their untrustworthiness and greediness through various unethical behaviours, which ... have been reported by the Competition Commission." The Competition Commission on Wednesday recommended that the Competition Tribunal punish several local and foreign-owned banks operating in SA for price-fixing of the rand. If the tribunal agrees‚ the banks face a...
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