Net1 UEPS Technologies said it’s agreed to pay its founder and CEO an $8m severance payment and an about 14% premium on his shares after he agreed to step down amid a storm of controversy over a contract it holds in South Africa to distribute billions of
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Net1 UEPS Technologies founder Serge Belamant will retire early after a storm of controversy over a contract it holds in South Africa to distribute billions of rand of welfare payments to 17m people
Net1 subsidiaries Money Line Financial Services and Manje Mobile Electronic Payment Services were granted their rights to enforce deductions on social grants paid to Grindrod bank accounts in the high court in Pretoria on Tuesday. The subsidiaries
Allan Gray, one of South Africa’s biggest money managers, said it’s “increasingly concerned” over the running of Net1 UEPS Technologies, a company whose lending practices to people on welfare have been criticised as unethical by
Social development minister Bathabile Dlamini bypassed officials at the country’s welfare department and helped create a crisis that would ensure that Net1 UEPS Technologies would continue to distribute payments on behalf of the government
The World Bank’s International Finance Corp said it’s pressing Net1 UEPS Technologies to complete an assessment of its lending practices this year as human rights organisations allege that the
Social development minister Bathabile Dlamini admitted for the first time that the failure of her department to comply with a 2014 court order could have led to more than 17m welfare recipients not getting their
Allan Gray, the second biggest shareholder in Net1 UEPS Technologies, said it will work with the company’s board after it highlighted concerns about its communication with its investors
The International Finance Corp, a member of the World Bank Group and Net1’s largest shareholder, promises to engage with the management of the company to “promote responsible business
President Jacob Zuma will chair an interministerial committee set up to ensure social grants are paid to recipients on time…