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LATEST NEWS FOR Net 1 UEPS Technologies Inc.  

Net 1 UEPS Technologies, Inc. (“Net1” and collectively with its consolidated subsidiaries, the “Company”) was incorporated in the State of Florida on May 8, 1997. The Company is a provider of financial technology, or fintech, products and ser... [more info]

Net1’s CPS using ‘dirty tricks’ to sabotage Post Office

25 Jun 2018 /  Ray Mahlaka   6
CPS is accused of preventing Post Office and Sassa officials from helping grant beneficiaries to sign up for the new Sassa/Post Office branded cards.

Treasury says Net1’s welfare charge is too high

2 May 2018 /  Antony Sguazzin   4
Treasury recommends that Net1 be paid 24% less than requested to pay Sassa recipients for a further six months.

ConCourt extends CPS’s social grants contract

23 Mar 2018 /  Ray Mahlaka   
The court awards the controversial social grants payer a six-month extension to its contract.

Net1 eyes fintech services after life without Sassa

14 Feb 2018 /  Ray Mahlaka    6
It plans to extend banking services to underserviced individuals, some of who are social grant recipients in far-flung rural areas.

Five things making headlines in South Africa today

9 Feb 2018 /  Moneyweb  
Net1 second quarter results, Twitter gains, MultiChoice is searching for bidders, Liberty trading forecast, and Zuma may get a lifeline.

Net1 understated profit in court report, group says

UPDATE
19 Nov 2017 /  Antony Sguazzin, Bloomberg   1
Empowerment transaction, bonuses classified as expenses.

Net1 reliance on CPS for profit could slow exit from grants

28 Aug 2017 /  Ray Mahlaka  
SA transaction division outperforms due to increase in grants distributed; higher ATM transactions.

IFC, Allan Gray cheer at end to Serge Belamant’s Net1 contract

3 Aug 2017 /  Ray Mahlaka    4
The big shareholders say Net1 can now focus on improving its governance issues.

Net1 UEPS terminates consulting agreement with Serge Belamant

31 Jul 2017 /  Ray Mahlaka    3
He will score R1.9 million instead of R16 million.

SA welfare minister commits to work with post office

20 Jul 2017 /  Thembisile Dzonzi, Bloomberg   2
Minister Dlamini names new acting CEO for welfare agency.

Sassa scraps minister’s advisory teams

11 Jul 2017 /  Thembisile Dzonzi, Bloomberg   3
The decision is likely to fuel tension between the agency's CEO Thokozani Magwaza and Bathabile Dlamini.

Net1 says Belamant pay justified as shareholders forced him out

2 Jun 2017 /  Aarti Bhana and Renee Bonorchis, Bloomberg   7
Company's pay committee doesn’t see ex-CEO’s deal as extravagant.

IFC, Allan Gray frustrated with Belamant’s golden handshake

1 Jun 2017 /  Ray Mahlaka    14
Both shareholders sound the alarm on Net1’s governance issues.

Net1 to pay departing CEO Belamant $8m, premium on shares

UPDATE
30 May 2017 /  Antony Sguazzin and Renee Bonorchis, Bloomberg   3
To be paid $50 000 a month to consult for the company.

Serge Belamant steps down as Net1 CEO

25 May 2017 /  Ray Mahlaka   7
The outspoken founder and CEO of the company takes early retirement.

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