Net1’s revenues nearly halve after Sassa contract expires

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Net1’s revenues nearly halve after Sassa contract expires
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Third-quarter revenue falls to $86.5m but CEO Herman Kotzé says the group’s core SA operations demonstrated more stability in the third-quarter

Net1 says its revenues fell as much as 47% in the three months ended March after its contract to distribute social grants in SA expired.

But Net1 CEO Herman Kotzé said the group’s core SA operations “demonstrated far more stability during the third-quarter”.

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