Before the end of its contract in 2018 to distribute social grants to more than 10-million beneficiaries, Cash Paymaster Services, a subsidiary of JSE-listed technology company Net1 UEPS, wanted to extract a cool R1.3bn claim from state coffers. It launched a lawsuit against the SA Social Security Agency (Sassa), the custodian of social grants, because it still wanted to play a meaningful role in the social grant system. However, Judge Robert Nugent ruled in favour of Sassa this week, rejecting CPS' claim.
There are many companies in the private sector that enjoyed a cosy and profitable relationship with the state during Jacob Zuma's presidency, which was bedevilled by nine years of corruption, patronage networks and disregard for the Constitution.
McKinsey and Trillian eked out hefty consultancy fees from bankrupt Eskom for their shoddy work, profits of JSE-listed technology company EOH were heavily generated from questionable state contracts, audit firm KPMG and software giant SAP joined the State Capture fray involving the corrosive Gupta family.
Cash Paymaster Service (CPS), the subsidiary of technology company Net1, can be added to the above list because the SA Social Security Agency (Sassa) chose it to administer the payment of social grants to more than...