AmaBhungane lifts the lid on CPS' alleged microloans scheme using Sassa

An amaBhungane investigation has shown that Net 1 uses its subsidiary Cash Paymaster Services’ (CPS) social grant contract as a secret backdoor to get grant beneficiaries’ information, something which was always forbidden.

It's alleged that Net 1 then uses the information to make billions selling loans, insurance and other financial products to beneficiaries.

For more, read: Serge Belamant, Sassa and the 'war chest' of poor people

Net 1’s executive chairman Serge Belamant continues to deny this, investigative reporter Craig McKune explains.

McKune adds that President Jacob Zuma has displayed woeful ignorance on the matter.

Take a listen:

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Nukes procurement was steaming ahead, halted in its tracks

Nukes procurement was steaming ahead, halted in its tracks

Energy expert Chris Yelland says Western Cape High Court judgment means nukes programme needs to be done lawfully the next time.

All hands on deck for MTN's Walk The Talk with 702, says City of Joburg

All hands on deck for MTN's Walk The Talk with 702, says City of Joburg

The City of Johannesburg's Community Safety MMC Nonhlanhla Sifumba says she's proud to be a part of MTN's Walk The Talk with 702.

Missing 83-year old woman has been found

Missing 83-year old woman has been found

The public was urged to come forward with any information regarding the whereabouts of an elderly woman lost near Mellville.

 SAA granted interdict against striking cabin crew

SAA granted interdict against striking cabin crew

The striking cabin crew last received an increase in meal allowance in 2011.

Cabin crew stuck with same meal allowance from 2011, says ex flight attendant

Cabin crew stuck with same meal allowance from 2011, says ex flight attendant

A former flight attendant puts the demands by striking SAA cabin crew, over an increased meal allowance, into perspective.

'Mantashe isn't backing down on the reshuffle and neither is Zuma'

'Mantashe isn't backing down on the reshuffle and neither is Zuma'

ANC secretary general Gwede Mantashe rightfully denied apologising to Presiden Jacob Zuma, explains Stephen Grootes.

Popular articles
It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

NSFAS to reopen 2017 applications

NSFAS to reopen 2017 applications

National Student Financial Aid Scheme says it will reopen 2017 loan applications after receiving requests for deadline extension.

How to build an African art portfolio (that'll grow in value)

How to build an African art portfolio (that'll grow in value)

Walker Scott Art Advisory’s Dr Fred Scott gives advice on building a high growth African art portfolio.

Right now, these are the best shares to buy on the JSE (according to Adviceworx)

Right now, these are the best shares to buy on the JSE (according to Adviceworx)

Bruce Whitfield interviews a Portfolio Manager about what she believes are the hottest stocks right now.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?

5 reasons why the tourism industry is sceptical about the latest numbers

5 reasons why the tourism industry is sceptical about the latest numbers

The tourism industry is questioning the veracity of the surprisingly upbeat tourism figures and the timing of their release.