Attached files
file | filename |
---|---|
8-K - FORM 8-K - NET 1 UEPS TECHNOLOGIES INC | form8k.htm |
Exhibit 99.1
Net1 appoints Alex Smith as Chief Financial Officer
Johannesburg, December 1, 2017 Net 1 UEPS
Technologies, Inc. (Net1 or the Company (NasdaqGS: UEPS; JSE NT1) today
announced that effective March 1, 2018, Alex Smith will be joining Net1 as its
new Chief Financial Officer, Secretary and Treasurer. Alex replaces Herman G.
Kotze, who was appointed as Chief Executive Officer in June 2017.Alex joins Net1
from Allied Electronics Corporation Limited (Altron), a JSE-listed company
with more than $1 billion in annual revenues, operating in the
telecommunications, multi-media, information technology and power electronics
industries, where he has been a Director and Chief Financial Officer since 2008.
In his role at Altron, Alex has been responsible for all financial matters
within the Altron group and has played a key role in the restructuring and
refocusing of the group.
Prior to joining Altron, Alex worked in various positions at
PricewaterhouseCoopers in Edinburgh, Scotland and Johannesburg from 1991 to
2005, initially as trainee accountant and later as audit manager and Associate
Director of the Transaction Services department focused on providing specialized
corporate finance services. Alex holds a Bachelor of Law (Honours) degree from
the University of Edinburgh and is a member of the Institute of Chartered
Accountants of Scotland.
I am thrilled that Alex has decided to join the Net1 family, said Herman G.
Kotze, CEO of Net1. His international background, familiarity with public
capital and debt markets and financial management experience across a diverse
and multi-site group are important attributes as we embark on the most exciting
time in our corporate history. I am confident that we will benefit from Alexs
wealth of experience and leadership.
About Net1 (www.net1.com)
Net1 is a leading provider of alternative payment systems that leverage its
Universal Electronic Payment System (UEPS) or utilize its proprietary mobile
technologies. The Company operates market-leading payment processors in South
Africa and the Republic of Korea. Through Transact24, Net1 offers debit, credit
and prepaid processing and issuing services for Visa, MasterCard and
ChinaUnionPay in China and other territories across Asia-Pacific, Europe and
Africa, and the United States. Through Masterpayment, Net1 provides payment
processing and enables working capital financing in Europe.
UEPS permits the Company to facilitate biometrically secure, real-time
electronic transaction processing to unbanked and under-banked populations of
developing economies around the world in an online or offline environment.
Net1s UEPS/EMV solution is interoperable with global EMV standards that
seamlessly enable access to all the UEPS functionality in a traditional EMV
environment. In addition to payments, UEPS can be used for banking, healthcare
management, payroll, remittances, voting and identification.
Net1s mobile technologies include its proprietary mobile payments solution -
MVC, which offers secure mobile-based payments, as well as mobile banking and
prepaid value-added services in developed and emerging countries.
Net1 has a primary listing on the NASDAQ and a secondary listing on the
Johannesburg Stock Exchange.
Investor Relations Contact:
Dhruv Chopra
Head of Investor Relations
Phone: +1-917-767-6722
Email: dchopra@net1.com
Media Relations Contact
Bridget von Holdt
Business Director Burson-Marstellar South Africa
Phone: +27-82-610-0650
Email: bridget.vonholdt@bm-africa.com