In light of the SASSA debacle, actuary Magda Wierzycka analyses the financial web of Net1, the company that runs the social grant payment system. 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 profits. The company is a bit like an onion, every time you peel away a layer, you uncover something […]
The dispute hovering over South Africa’s social grant system and threatening millions of vulnerable beneficiaries with nonpayment creates risks that go far beyond interrupting poor people’s access to desperately needed grants. The failure of the South African Social Security Agency (Sassa), which is responsible for the payment and administration of social grants, to act timeously has created a crisis that threatens to deliver grant recipients on a silver platter into […]
Electronic payments provider Net1 UEPS Technologies, which has found itself at the centre of a social grants storm in South Africa, has confirmed that it has agreed to buy a R2bn, 15% stake mobile network Cell C. Earlier this week, Blue Label Telecoms [JSE:BLU] said it reached a last-minute agreement to acquire 45% of Cell C, which is South Africa’s third largest network with about 24m users. JSE-listed Blue Label said […]
VOC became the first Muslim radio station in South Africa when a special events license was granted to the station in Ramadan/January 1995. Subsequent temporary broadcast licenses were granted, permitting the station to broadcast for 24 hours.
