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

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Former CEO of Net1 UEPS Technoologies Serge Belamant. (Supplied)
Former CEO of Net1 UEPS Technoologies Serge Belamant. (Supplied)

Cape Town – Net1 has terminated its two-year consulting agreement with its former chief executive Serge Belamant, it said in a statement on Monday.

Net1’s board of directors issued Belamant a 90-day written notice to terminate his agreement, which saw the former CEO being paid R645 000 a month for his consulting service.

Belamant, who retired as CEO of Net1 on May 31 2017, will not receive any termination payments to beyond the 90-day notice period, the company said.

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