Great Expectations

Coster, Helen
February 2007
Forbes Asia;2/12/2007, Vol. 3 Issue 3, p28
This article talks about Net 1 UEPS Technologies offering banking services to the poor people in Africa. In fiscal 2006, ended June 30, the company netted $59 million on revenue of $196 million by issuing free smart cards to indigent people who have no bank accounts or credit cards. It has built a customer base of 3.6 million accounts in Africa. The company faces competition from other banks and credit card companies including AllPay and Standard Bank.


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