Allan Gray “outraged” at $8m severance payment to Net1 CEO Belamant
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 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.
Sanlam and Lion of Africa Assurance are among insurers whose sale of funeral policies for children on welfare has led to a confrontation with South Africa’s government.