Net 1 UEPS Technologies, today announced that the Competition Commission of South Africa has declined to refer a complaint lodged against the Company and Grindrod Bank Limited by the Hon. Elza van Lingen, a Member of Parliament, to the Competition Tribunal for consideration.
The complaint alleged that Cash Paymaster Services Proprietary Limited (“CPS”), a subsidiary of the Company, provided other associates of the Company as well as Grindrod Bank with access to the database of social grant beneficiaries that CPS maintains as part of CPS’s contract with the South African Social Security Agency. The complaint further alleged that access to this database had the effect of placing Grindrod Bank and Net1 at an advantage over other banks for the provision of insurance policies, loans and prepaid airtime and electricity.
Following an investigation of the complaint, the Commission decided not to refer the matter to the Tribunal for consideration and advised the Hon. Van Lingen that she had the option of referring the matter directly to the Tribunal if she disagreed with the Commission’s decision. The Hon. Van Lingen has not referred the matter within the prescribed time and the matter has accordingly been closed.
Full Content: Market Wired
Want more news? Subscribe to CPI’s free daily newsletterr for more headlines and updates on antitrust developments around the world.
Featured News
EU Civil Society Groups and Labor Unions Raise Alarm Over Proposed Changes to GDPR
May 19, 2025 by
CPI
EU Antitrust Regulators Push Back Deadline on UniCredit’s Takeover Bid for Banco BPM
May 19, 2025 by
CPI
Intel Challenges €376 Million EU Fine in Ongoing Antitrust Dispute
May 19, 2025 by
CPI
Red Bull Challenges EU Commission Over Lengthy Antitrust Inspection
May 19, 2025 by
CPI
Live Nation Under Criminal Antitrust Investigation Over Pandemic-Era Refund Policies
May 19, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Healthcare Antitrust
May 14, 2025 by
CPI
Healthcare & Antitrust: What to Expect in the New Trump Administration
May 14, 2025 by
Nana Wilberforce, John W O'Toole & Sarah Pugh
Patent Gaming and Disparagement: Commission Fines Teva For Improperly Protecting Its Blockbuster Medicine
May 14, 2025 by
Blaž Višnar, Boris Andrejaš, Apostolos Baltzopoulos, Rieke Kaup, Laura Nistor & Gianluca Vassallo
Strategic Alliances in the Pharma Sector: An EU Competition Law Perspective
May 14, 2025 by
Christian Ritz & Benedikt Weiss
Monopsony Power in the Hospital Labor Market
May 14, 2025 by
Kevin E. Pflum & Christian Salas