Net1 grows stake in European bank in bid to expand fintech reach
Technology group buys an additional 35% of Liechtenstein-based Bank Frick
08 October 2019 - 20:00
Technology group Net1 UEPS says it has bought an additional 35% in Liechtenstein-based Bank Frick & Co for $46.4m (R707.99m) in an effort to expand its fintech services.
The JSE and Nasdaq-listed firm is diversifying further into new geographies as it seeks other revenue streams after the loss of a multibillion contract to distribute social grants in SA...
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