PAYMENT solutions provider Net1 UEPS Technologies, which reported earnings above expectations for the year to June on Friday, expects growth to stall if its contract to distribute social grants in SA is changed in any way.A volatile rand could also threaten its earnings, which came in at 51 US cents a share, compared with analyst expectations of 44c.Finance chief Herman Kotze said growth in the Cash Paymaster Services business in SA — which distributes social grants on behalf of the South African Social Security Agency (Sassa) — is expected to remain flat this year, while its financial inclusion businesses would grow more than 15%. It was, therefore, expecting full-year earnings of at least $1.65 for the 2017 financial year."Our guidance is in constant currency. A weaker rand will reduce our dollar earnings per share and a stronger rand will improve dollar earnings per share for the South African portion of our business," Kotze said. "When Sassa takes over the payment function, the ...
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