Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

OakbayBusinessLive reports that Terbium Financial Services, which until recently acted as a paying agent for the Oakbay group, is not registered with the Payments Association of SA (Pasa).  

This has raised questions about whether it has breached regulations governing conduct in SA’s national payments system.  Pasa, a payment system management body recognised by the Reserve Bank under its National Payment System Act, said all third-party payment providers had to be registered with it in line with a Reserve Bank directive.  The registration should be done by the payment provider’s bank, which has to be one of the 30 members of the clearing and settlement participants at the core of the act.  Terbium has been offering paying agent services, for which it takes lump-sum deposits from corporate entities to divide up among suppliers, employees and other creditors, as part of its "corporate connect" package.

  • Read this report by Moyagabo Maake in full at BusinessLive (paywall access)
  • See too, Judge to rule on Monday on Bank of Baroda’s bid to cut Guptas loose, at eNCA

Get other news reports at the SA Labour News home page