COMPANY COMMENT: Mixed feelings as Net1 takes grant skill global
Not everybody will be as excited as Herman Kotze about Net1’s continued growth in its EasyPay Everywhere offering
There was an upbeat tone to Herman Kotze’s presentation of Net1’s quarterly results on Friday. Not that the results for the three months to end-September were particularly encouraging, but the relatively new CEO was excited about the group’s prospects. Kotze was determined to persuade anyone listening in to the earnings call that Net1 is much more than Cash Paymaster Services’s (CPS’s) contract with the South African Social Security Agency (Sassa). It might help if he had been able to report progress appointing a chief financial officer, but six months after Net1 founder Serge Belamant left and Kotze slipped into his role, the chief financial officer position is vacant. Not everybody, check Black Sash for one, will have been as excited as Kotze about Net1’s continued growth in its EasyPay Everywhere (EPE) offering and related services including ATMs and financial services such as SmartLife. The tie-up with Cell C is expected to drive further growth for EPE. Although Belamant has exp...
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