CPS expects Sassa deal to be sealed this week, says Net1 CEO Serge Belamant
The Department of Social Development said at the weekend no deal had been signed, but the company says terms have been agreed
06 March 2017 - 12:00
Net1 CEO Serge Belamant says that Cash Paymaster Services (CPS) has agreed to a set of terms that will see it being involved in the payment of social grants from April 1. The contract entered into between the South African Social Security Agency (Sassa) and CPS in 2012 to pay grant recipients was declared unconstitutional by the Constitutional Court in 2014. CPS is a subsidiary of Net 1. The court‚ however‚ did not set aside the contract‚ but ordered the Department of Social Development to open a tender for a new contract or allow the CPS contract to run until its conclusion at the end of March 2017.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.