AllPay appeals ruling on R10bn tender

Johannesburg – Net 1 UEPS Technologies [JSE:NT1] said on Monday AllPay Consolidated Investment Holdings had filed leave to appeal with the Constitutional Court against the judgment handed down by the South African Supreme Court of Appeal last month regarding a R10bn tender.

The Supreme Court of Appeal unanimously ruled that the tender process followed by the South African Social Security Agency in awarding a contract to Net 1 UEPS Technologies’ subsidiary Cash Paymaster Services was valid and legal.

Cash Paymaster Services was awarded a tender last year to distribute social welfare grants to 10-million South Africans every month for a period of five years. But the losing bidder‚ AllPay‚ challenged the tender award‚ alleging widespread corruption and irregularities in the tender process.