‘If we don’t get a deal by Wednesday no grants will be paid’

If a deal is not signed with Cash Paymaster Services (CPS) by Wednesday, it will not be able to pay social grant recipients on 1 April, said CPS CEO Serge Belamant on Tuesday.

In order for us to pay on 1 April, we need to have access to the funds that must be paid to the beneficiaries. Secondly, we cannot go ahead and pay over R10 billion without the contract with the state.”

Serge Belamant, Cash Paymaster Services

The Money Show’s Bruce Whitfield interviewed Belamant.

Listen to the interview in the audio below.

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Article brought to us by Old Mutual.

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