Net1 bets big on SA informal economy – CEO Chris Meyer on its R3.7bn acquisition of the Connect Group
economy | informal

Net1 bets big on SA informal economy – CEO Chris Meyer on its R3.7bn acquisition of the Connect Group

Nasdaq and JSE-listed financial technology business Net1 Technologies announced a “transformational” deal, acquiring the Connect group for a whopping R3.7bn. Given that Net1’s market capitalisation stands at around R6bn, the deal is significant and will broaden Net1’s exposure into the South African informal sector. The legacy-stricken business has recently had a management overhaul, with Investec…