The former social grants distributor is selling non-strategic assets and focusing on core fintech businesses
Net1, the former social grants distributor that has shifted its attention to fintech, said on Thursday it had sold 8% of DNI to Rand Merchant Bank for R215m.
The Net1 Applied Technologies SA business used the proceeds, plus R15m of its cash reserves, to “early-settle” its outstanding long-term borrowings of R230m in full, Net1 said.
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