Ousted Net1 founder Serge Belamant: I would have done nothing differently
Serge Belamant reckons he was a casualty of political infighting and unfounded attacks on his integrity, including by 16% shareholder Allan Gray.
Serge Belamant reckons he was a casualty of political infighting and unfounded attacks on his integrity, including by 16% shareholder Allan Gray.
Net1 UEPS Technologies has agreed to pay its founder and chief executive officer an $8m severance payment and an about 14% premium on his shares.
Net1 founder, Serge Belamant, will retire early after a storm of controversy over a contract it holds to distribute welfare payments to 17 million people.
Investigations into Net1 by the US Justice Department, the SEC and the Hawks, which found nothing untoward, threatened huge fines and jail time. But this one is even more important for Net1. It’s existential.
The media is in a tizz over the possible suspension of South Africa’s social security agency SASSA’s payments to 10m welfare grant recipients.
After years of fighting against a campaign that attacked its reputation, Serge Belamant’s Net1 is slowly winning the war.
In a different universe, Net1 founder Serge Belamant would be one of his homeland’s most admired personalities. A gifted tech entrepreneur, his innovative efforts have brought financial inclusion to millions of unbanked people, delivering huge social benefits.
Biznews’ Alec Hogg finds out that everyone of the 14 longest serving CEOs of big SA listed companies are entrepreneurs.
let’s get a more in-depth view of how the market’s trading today. Viv Govender from Vunani Private Clients is with us in the studio.
It’s well known RECM was been piling into the shares in Steinhoff’s beleaguered subsidiary, JD Group. So in today’s CNBC Africa Power Lunch I quizzed the firm’s Wilhelm Hertzog about his views after another disappointing trading update released late last night. Also in today’s interview, Hertzog offers his perspectives on Steinhoff, Net1 and Blue Label. – … Read more