Cell C now valued at zero

2019-09-19 17:27

Cell C's major equity holders Blue Label Telecoms and Net1 have both placed the fair value of the mobile operator at zero.

Net1's earnings down by almost half as end to Sassa contract looms

2018-08-31 12:17

Net1's earnings were down by almost half for the 2018 financial year.

Treasury slams Net1 charges for Sassa as too high

2018-05-03 13:03

Treasury has recommended that Net1 UEPS Technologies be paid 24% less than it’s requesting for a six month extension to pay social welfare grants at cash pay points.

Net1 profit down after challenging quarter

2018-02-09 13:19

Net1, the company behind CPS that used to run SA’s social grant payment system, is upbeat about its future performance after restructuring and addressing challenges in the past quarter.

CPS rejects report questioning Sassa millions

2017-11-19 15:47

It appears that Net1 subsidiary Cash Paymaster Services underestimated the pre-tax profits relating to the Sassa contract by between R214.2m and R614.4m, states an independent report.

How Net1 will make money after social grant contract ends

2017-08-21 07:12

The accounts of social grant beneficiaries who have EasyPay Everywhere (“green” card) accounts will remain active after the contract between Sassa and CPS comes to an end in March 2018.

EOH slams report suggesting execs more 'notorious' than Guptas

2017-07-18 15:41

EOH says the IT services it provided SASSA for 8 years were based on merit, dispelling an article that suggested its directors could trump the Guptas on state capture.

Net1: Belamant's R104m severance pay is justified

2017-06-02 16:24

Net1 UEPS Technologies’s new CEO Herman Kotze says a severance payment to former CEO Serge Belamant has been justified because they forced him into early retirement.

Allan Gray outraged at Belamant's golden handshake

2017-05-31 11:38

Allan Gray, Net1’s second-biggest shareholder, says it has noted with outraged the financial settlement claimed by Serge Belamant upon his retirement as CEO.

Net1 to pay outgoing CEO over R100m

2017-05-30 18:59

Net1 will be paying its outgoing chief executive Serge Belamant $8m or over R100m and a premium on shares.

 

Net 1 reschedules Q4 results due to Cell C deal delay

2019-09-10 15:22

Net 1 is rescheduling the release of its audited results in order to allow more time for clarification in respect of proposed transactions at Cell C.

Unsuspecting Sassa beneficiary claims he was duped into getting green EasyPay card

2018-06-25 16:54

Monwabisi Mjuleni from KwaNobuhle in Uitenhage says he was visiting a local South African Social Security Agency office when he was duped into getting a green EasyPay Everywhere account.

Sassa tells Net1 to retract 'misleading' pamphlet

2018-04-26 05:15

The company has been told to apologise to social grant beneficiaries.

OUTA wants to see new welfare grants deal

2017-12-11 11:07

It is official, the South African Post Office will now be in charge of distributing SASSA grants, but OUTA wants the details of the new deal to be made public.

1Life to refund pensioner after unexplained policy deductions

2017-08-29 06:34

Op-die-Berg resident Jakobus Fortuin realised something was wrong when he discovered deductions against his old age grant for a funeral policy he didn't want and hadn't bought.

Net1 terminates R645k a month consulting agreement with ex-CEO Serge Belamant

2017-07-31 16:08

Net1 has terminated its two-year consulting agreement with its former chief executive Serge Belamant, the firm has announced.

Net1 appoints ombudsman to oversee future disputes

2017-06-05 18:00

Net1, the parent company of Cash Paymaster Services, has appointed an ombudsman to oversee future complaints the financial services provider may face.

Cell C deal remains on track after Net1 speed wobble

2017-06-02 08:25

The move by Blue Label Telecoms to acquire a 45% stake in C Cell hit a speed wobble this week after Net1 changed course as the third-party investor.

DA asks Gigaba to probe social grant distributor's R1.1bn profit

2017-05-30 21:00

The Democratic Alliance has asked Finance Minister Malusi Gigaba to launch an investigation into the R1.1bn profit earned by Cash Paymaster Services through its contract to distribute social grants.

Net1 founder Belamant to quit after SASSA controversy

2017-05-25 07:34

Net1 founder Serge Belamant will retire early after a storm of controversy over a contract it holds in SA to distribute billions of rands of welfare payments to 17 million people.

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