Posts

Net1 Responds to CW’s Notice of Motion

Last week we reported that Corruption Watch has approached the High Court for an order to set aside a R317-million payment by the South African Social Security Agency (Sassa) to Cash Paymaster Services (CPS), the company administering the payment of social grants. Now Net1, CPS's parent company, has responded. Read Net1's statement below:    Net Read more >

‘Political elite must put integrity above self-interest’

Corruption is eating away at Africa's biggest economy, stifling growth, marring its international reputation and, most importantly, hurting the poor, writes Transparency International’s managing director Cobus de Swardt. Now that the ANC has elected its leaders, it should recognise the problems, opportunities and challenges ahead and make combating corruption a priority. From allegations of dodgy Read more >

Lessons from the US in fighting corruption

Two weeks ago, Net1 Universal Electronic Payment System Technologies disclosed that it was being investigated by the US department of justice for violating the US Foreign Corrupt Practices Act. Net1 is listed on the Nasdaq and the JSE. Its share price plummeted after the disclosure. The far-reaching Foreign Corrupt Practices Act criminalises corruption perpetrated outside Read more >