The Banking Association South Africa (Basa) says it will soon hold a meeting with the Constitutional Court’s expert panel to present recommendations from the banking sector on the future of the social grants payment system. "As a sector we remain willing to play a role to support the distribution of social grants. We met with the minister on August 25, where we indicated our willingness to assist," a Basa spokesperson told Business Day on Friday. Basa was responding to the panel’s recently released report in which it recommends the South African Social Security Agency (Sassa) promote the use of commercial bank accounts, including the South African Post Office Postbank, for the payment of social grants. The panel envisages the creation of a Sassa beneficiary banking product similar to the Mzanzi account, but flags the need to ensure bank charges are controlled. The panel said the increased use of bank accounts could present an achievable and cost-effective goal for Sassa as it would ...
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