South Africa Scrambles as $10.3 Billion in Welfare Threatened

South Africa’s government, set to miss a deadline to appoint a new distributor of welfare grants worth about $10.3 billion a year to more than 17 million people, asked aspirant bidders to an information session as the end of a contract with Net 1 UEPS Technologies Inc. looms. The South African Social Security Agency, which oversees the monthly payment system, took the first step toward appointing a new distributor at the session in Pretoria on Jan. 13. It’s likely to take several more months to choose a winner, which will then have to put the necessary payment systems in place.