What Role Did the World Bank Have in South Africa's Grant Crisis?
Why did the World Bank, one of the largest development finance institutions in the world, ignore all the information circulating about Net1, parent company of Cash Paymaster Services, and, instead, invest R1.6 billion? This after Allan Gray, the second largest shareholder, faces scrutiny over its role in the social grant crisis. Erin Torkelson of GroundUp investigates.
South Africa: The World Bank's Role in Social Grants Payment System
GroundUp, 23 March 2017
Bank invested R1.6 billion in Net1 last year Read more »
South Africa: Net1 and BEE Deals - a Gift That Keeps On Giving
Daily Maverick, 20 March 2017
It is a well-known fact that any government tender awarded in South Africa carries a heavy weighting towards black economic empowerment. The most important criterion taken into… Read more »
South Africa: Social Grants Crisis - Net1 Deal Sealed With a Kiss
Daily Maverick, 16 March 2017
I was really looking forward to debating Serge Belamant, the CEO of NET1, on Radio 702 on Wednesday night. Unfortunately, when it came to the crunch, he did not answer his… Read more »
South Africa: The Forgotten Party in the SASSA Debacle - Grindrod Bank
Daily Maverick, 14 March 2017
The one party that has remained deadly silent in the raging Sassa debate has been Grindrod Bank. They have shied away from all publicity and their part in the Sassa and Net1's Cash… Read more »
South Africa: Net1 - Peeling Away the Layers
Daily Maverick, 12 March 2017
Given the controversy around Net1, I decided to look at Net1 from an investment analyst's perspective and to try to understand exactly what Net1 does and how it generates its… Read more »
Daily Maverick, 9 March 2017
The private company at the heart of the Sassa social grant disaster has attracted controversy for a number of reasons. Among them: its practice of using the Sassa database to sell… Read more »
Demonstrators outside the Constitutional Court during hearings on the future of the social grants payment system.
Cash Paymaster Services is expected to make R4.6 billion from its new agreement with the South African Social Security Agency. This comes as the Constitutional Court ruled that the ... Read more »