Dispensing social grants gives Post Office R1.9bn boost | IOL News

Cape Town - The South African Post Office has indicated it will net R1.9 billion from the South African Social Security Agency contract for distributing social grants to millions of beneficiaries a year. The post office, which has been struggling for several years, is under pressure to generate revenue.

It has faced tough competition in the industry. In its audited results presented to Parliament, Sapo said it would make make money from the grants. This followed the Constitutional Court’s decision last year that Cash Paymaster Services must stop paying social grants because their contract was invalid.

“The Post Office signed a contract with Sassa for the payment of social grants to approximately 11 million beneficiaries. Based on the current forecasts, gross revenue expected from this project is R1.9bn per annum,” said Sapo in the report.

Good. At least no bail out for the Post office

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