About 600 bidders and onlookers stood ten-deep inside Bosasa's Imbizo Hall on Wednesday morning, braving wet and cold conditions to grab a piece of the Bosasa pie.
The provider of transaction services says a delinquency notification has no immediate effect on its listing.
Treasury should probe the conduct of officials at the welfare agency and the social development department for possible prosecution, according to a court appointed panel.
After the conclusion of one of the country’s most complicated acquisitions, Blue Label Telecoms CEO Mark Levy told Fin24 that finalisation felt like ‘the birth of a child’.
Social Development Minister Bathabile Dlamini helped create a crisis to ensure Net1 would continue to distribute payments, says her former director general Zane Dangor.
Treasury will not act illegally and approve a new welfare distribution deal with Net1 UEPS Technologies, says ANC spokesperson Zizi Kodwa.
National Treasury says it is dismayed by a report that suggested there was a “war looming” between ministers Pravin Gordhan and Bathabile Dlamini over Sassa.
The Social Development Department’s ability to continue to make monthly welfare payments to about 17 million people is in jeopardy because it ignored advice from Sarb.
Blue Label Telecoms plans to buy a 45% stake in South Africa’s third largest mobile network Cell C for R5.5bn.
Net 1 says the South African Social Security Agency has breached the constitution by amending regulations to prevent deductions from payments to beneficiaries.
A US court has dismissed a class action against Net1 UEPS Technologies, which manages South Africa’s social grant payment system.
Net 1 UEPS Technologies has asked the chief justice to order the welfare agency to release money to Cash Paymaster Services, after CPS said it would struggle to keep operating amid a dispute over fees.
Net1 UEPS, parent company of Cash Paymaster Services, which manages the payout of SA's social grants, has employed a fintech veteran to spearhead global expansion plans.
Allan Gray is increasingly concerned over the running of Net1, saying its research shows the business doesn’t always answer its phones when called by clients.
Shareholder governance, regulation and financial literacy are required in the bid to prevent social welfare recipients being exploited, says Sygnia CEO Magda Wierzycka.
The welfare minister has denied she is responsible for failing to ensure plans are in place to dispense grants when the disbursement contract with Net 1 UEPS Technologies ends.
A failure to extend Net 1's contract to distribute welfare payments beyond the end of March would be a “national disaster,” says the chief executive officer.
Government may extend its deal with Net 1 UEPS Technologies, a company that it has been embroiled in legal battles with, because it’s not ready to make welfare payments.
Net 1 CEO Serge Belamant says he isn’t "remotely concerned" about a court case that could stop deductions for services such as funeral insurance from social grants.
Social security agency Sassa, which oversees grant payments to over 16 million people, will file a criminal case against Grindrod and a unit of Net 1 UEPS Technologies over deductions.
Electronic payments company Net1 has more time to continue carrying out a social grant tender amid a Constitutional Court decision to suspend a bidding deadline.
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