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Get a daily health tip Subscribe and you could win R 1 000! Sign up i The information on Health24 is for educational purposes only, and is not intended as medical advice, diagnosis or treatment. If you are experiencing symptoms or need health advice, please consult a healthcare professional. See additional information. We’re currently experiencing serious technical problems on the site, and as a result are unable to update the news – even though our market data is running as per normal. We sincerely apologise for any inconvenience caused and hope to be up and running again this evening. Thank you for your patience in this regard. – David McKay (editor) & team Johannesburg - Three of South Africa’s biggest banks are considering bidding to distribute government welfare payments to more than 17 million people. This as a contract with a subsidiary of welfare grant distributor Net 1 UEPS Technologies comes to an end, after years of legal battles. The existing contract earned Net 1 about R2 billion a year, its annual reports show. Barclays Africa, Nedbank and a unit of FirstRand are contemplating bids, according to emailed responses to questions from the lenders. The state-owned Post Office has already said it will bid. While it is yet to issue a formal bid, the SA Social Security Agency (Sassa) – which administers the approval and payment of social grants – has asked potential bidders to submit requests for information as it mulls over how to distribute R139.5 billion in welfare payments a year. The contract with Net 1’s subsidiary, Cash Paymaster Services, expires at the end of March, but may be extended until the security agency’s own systems are in place or an alternative provider is found, according to the department of social development. While Cash Paymaster’s contract was ruled invalid by the Constitutional Court in 2013, it continued because Sassa did not issue a new request for proposals and there were unresolved legal disputes. “Government deals come with a lot of costs,” said David Shapiro, deputy chair of bank-controlling firm Sasfin Securities. “I imagine there will be a number of bidders. It is too big a contract to disregard.” African Bank and Capitec Bank are not bidding. Standard Bank said it had not engaged in the Sassa process to date. “If I was a bank and tendering, I would ensure that the awarding of the contract was transparent, with reasons why the winning bid won. "The problem with Net 1 lies in allegations that it did not win the tender fairly,” said Kokkie Kooyman, fund manager at Denker Capital. AllPay, a subsidiary of Barclays Africa, used to distribute some of the social welfare grants. It legally challenged the awarding of the contract to Cash Paymaster. – Read Fin24’s Comments Policy 24.com publishes all comments posted on articles provided that they adhere to our Comments Policy . Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment. Data supplied by: cheap jordan shoes cheap jordans for sale cheap jordans cheap real jordans ?thread_id=0 ?site=forum_topic&topic=16005 cheap real jordans cheap jordans cheap jordans for sale www.crafthammerdesign.com cheap jordan shoes http://frndever.com/fr...s&blogentry_id=647838 http://www.faravahars....ar-cosi#comment-651527651 http://www.b3nson.net/...www-crafthammerdesign-com |