Johannesburg - The Supreme Court of Appeal has ruled in favour of Net1 UEPS Technologies, a provider of alternative payment systems, over a R10bn social grant tender.
The Supreme Court of Appeal has unanimously ruled that the tender process followed by the SA Social Security Agency (Sassa) in awarding a contract to Net 1 UEPS Technologies’ subsidiary was valid and legal‚ the electronic payment group said on Wednesday.
Net1’s subsidiary‚ Cash Paymaster Services‚ was awarded a R10bn tender last year to distribute social welfare grants to 10 million South Africans every month for a period of five years.
The losing bidder‚ Absa subsidiary, AllPay Consolidated Investment Holdings‚ challenged the tender award‚ alleging widespread corruption and irregularities in the tender process.
"Accordingly, the contract between Sassa and CPS to distribute social welfare grants to 10 million South Africans every month for a period of five years, remains in full force and effect," Net1 said.
The Supreme Court of Appeal has unanimously ruled that the tender process followed by the SA Social Security Agency (Sassa) in awarding a contract to Net 1 UEPS Technologies’ subsidiary was valid and legal‚ the electronic payment group said on Wednesday.
Net1’s subsidiary‚ Cash Paymaster Services‚ was awarded a R10bn tender last year to distribute social welfare grants to 10 million South Africans every month for a period of five years.
The losing bidder‚ Absa subsidiary, AllPay Consolidated Investment Holdings‚ challenged the tender award‚ alleging widespread corruption and irregularities in the tender process.
"Accordingly, the contract between Sassa and CPS to distribute social welfare grants to 10 million South Africans every month for a period of five years, remains in full force and effect," Net1 said.