#HandsOffOurGrants in the Media

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CPS sees R420m losses under extended Sassa contract

"Social grants distributor Cash Paymaster Services (CPS) has for the first time revealed the extent of financial losses it might incur if the South African Social Security Agency (Sassa) does not hike the company’s fee to pay social grants for an additional six months.

In an answering affidavit to the Constitutional Court, CPS director Nunthakumarin Pillay said if Sassa paid it the same amount to distribute social grants under the extended contract, CPS would operate at a loss of at least R70 million a month or R420 million for six months."

Read more: https://www.moneyweb.co.za/news/south-africa/cps-sees-r420m-losses-under-extended-sassa-contract/

Tags: #HandsOffOurGrants