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Net1

latest news & developments
Social standing: Beneficiaries queue to collect grants in Alexandra. (File photo/MG)
CASH PAYMASTER SERVICES

ConCourt orders CPS to file all records relating to its illicit profits

The court has given Cash Paymaster Services 15 days to provide all documents that will allow the treasury to calculate the sum it needs to refund the social security agency

  • Emsie Ferreira
3 min read
The Net1 subsidiary’s director, Nunthakumarin Pillay, says in his affidavit that hundreds of thousands of social grant beneficiaries had opted to receive their social assistance in EPE accounts. (Gallo)
ATHANDIWE SABA

Net1 subsidiary goes to court to compel Sassa to pay grants into its accounts

Moneyline claims that the South African Social Security Agency has moved beneficiaries to the South African Post Office against their will

  • Athandiwe Saba
2 min read
Bathabile Dlamini slapped with court costs, possible perjury probe (Photo Archive)
BATHABILE DLAMINI

Bathabile Dlamini slapped with court costs, possible perjury probe

The Constitutional Court has ruled that Bathabile Dlamini is personally liable for 20% of costs of last year’s Sassa debacle

  • Athandiwe Saba
4 min read
Facebook’s Mark Zuckerberg testifies about how information was hacked from Facebook users and used in the United States’s 2016 elections. (Brendan Smialowski/AFP)
BLACK SASH

SA waits on information regulator

The process of setting up the new body to help safeguard our democracy has met with obstacles

  • Richard Calland
8 min read
Black Sash national advocacy manager Hoodah Abrahams-Fayker said the case is important because it deals with the most vulnerable in society. (Delwyn Verasamy/M&G)
ATHANDIWE SABA

Grants back in court

In May last year the high court ruled that CPS could continue to deduct money for airtime, loans and electricity from social grant beneficiaries

  • Athandiwe Saba
2 min read
Right2Know campaigners picketed outside the Social Development head office over the social grants debacle on Monday.
CASH PAYMASTER SERVICES

President must move grant payment to Treasury to ensure payment on April 1

A panel of experts expects Sassa to renege on its Constitutional mandate to pay grants to over 10-million recipients.

  • Athandiwe Saba
4 min read
Sixty-seven South Africans have died in a building collapse at the Synagogue Church of All Nations in Nigeria
CASH PAYMASTER SERVICES

CPS wants ConCourt to clarify it can still be awarded tenders to pay grants

CPS argues no party during the court process suggested that it should be barred from participating in any future tenders in regards to grant payment.

  • Athandiwe Saba
3 min read
On Monday, the court ordered that Ramaphosa appoint a new NDPP within 90 days of its order. (Oupa Nkosi/M&G)
CELL C

How Cell C was bought with its own airtime

The airtime deal is hiding in a complex web involving controversial new majority shareholders Blue Label Telecoms and Net1

  • Phillip De Wet
13 min read
(Mujahid Safodien/AFP)
ALLAN GRAY

How Serge beat Net1’s shareholders

But there is still hope for a precedent that will keep companies honest

  • Phillip De Wet
6 min read
Some supporters of former president Jacob Zuma believe that
CASH PAYMASTER SERVICES

Net1 to pay outgoing CEO Serge Belamant a cool R263-million

From this Wednesday, the company will pay him a salary of some R660 000 per month to work for at most a half-day for up to two more years

  • Phillip De Wet
2 min read
Right2Know campaigners picketed outside the Social Development head office over the social grants debacle on Monday.
ALLAN GRAY

For Net1 a big profit is a big problem

For years Net1 had been criticised about its financial dealings with grant recipients, such as selling them life insurance.

  • Phillip De Wet
4 min read
Ethics under fire: Protesters demonstrate against CPS and Net1 selling life insurance policies to social grant recipients. The high court has effectively deemed such debit orders legal.
CASH PAYMASTER SERVICES

EXCLUSIVE: CPS made R1-billion profit paying social grants

Over the past five years it has recorded a pre-tax profit of R1.1-billion, Cash Paymaster Services has told the ConCourt.

  • Phillip De Wet
3 min read
Ethics under fire: Protesters demonstrate against CPS and Net1 selling life insurance policies to social grant recipients. The high court has effectively deemed such debit orders legal.
CASH PAYMASTER SERVICES

CPS to face R317m claim on its own

Cash Paymaster Services is on its own after the social grant agency withdrew from the case

  • Phillip De Wet
6 min read
DA members at the Constitutional Court during a hearing on Black Sash’s request for Sassa to use Cash Paymaster Services until a new grant payment system was in place.
NET1

​Net1 scores in social grant ruling

The company gets the go-ahead to debit the accounts of social grant beneficiaries.

  • Phillip De Wet
4 min read
Lifeline: Magda Wierzycka condemned the business practices and financial dealings of Net1 UEPS Technologies
CASH PAYMASTER SERVICES

Money Magda kicks Net1 butt

Magda Wierzycka might be the richest woman in SA but she hasn’t lost sight of those with very little

  • Staff Reporter
9 min read