Net 1 UEPS Technologies Inc.
NASDAQ : UEPS
JSE : NT1

Net 1 UEPS Technologies Inc.

September 10, 2014 14:06 ET

Net 1 UEPS Technologies Opens the World of Computing to Three Disadvantaged Schools

Sponsors three fully equipped 30-seat computer laboratories in KZN and North West Province schools

JOHANNESBURG, SOUTH AFRICA--(Marketwired - Sept. 10, 2014) - Net 1 UEPS Technologies, Inc. ("Net1") (NASDAQ:UEPS)(JSE:NT1) has collaborated with giveITback to build and equip computer laboratories at three disadvantaged schools across South Africa. Pupils at Clairwood Secondary School and the Isibonelo Secondary School in KwaZulu Natal, and the Moremogolo Primary School in the North West Province now have access to fully equipped computer laboratories, which include a server, printer, internet access, networking, desks, electricity infrastructure, painting, signage and warranties.

"Providing access to technology in rural schools changes the lives of the whole community," says Dr Serge Belamant, CEO of Net1. "Children that benefit from an improved education are expected to become the breadwinners in their families and they stand a far better chance of success if they are adequately prepared to engage with technology in the workplace. These centres equip them to do more than just complete their education - they equip them to uplift the whole community around them."

"Net1 has chosen to partner with giveITback because the organisation provides a holistic solution that has been carefully planned and designed to make a meaningful difference to pupils. With each 30-PC computer lab costing in the region of R400 000 we are happy to make this investment in the future of our children, because we know that they have taken care of every requirement," adds Belamant.

giveITback investigated several schools before proposing Clairwood Secondary, Isibonelo Secondary and Moremogolo Primary to Net1 as prospective sites for the computer laboratories.

"Firstly, the schools must have teachers on site who are qualified to lead classes using the computer laboratories," says Jonathan Michael, CEO of giveITback. "The school must have adequate security in place, and they require an appropriate number of students so that the laboratories can be used efficiently. Once a school has been identified and the supply chain logistics have been finalized, the physical installation can be done in five days, normally during school holiday periods to ensure minimum disruption to the school and students."

For example, the Isibonelo Secondary school has just over 1000 pupils, a qualified lab teacher, and an armed response company that patrols the school's grounds when it is not in use. The school has actively decreased its student intake to reduce class sizes, so that teachers can focus on the quality of education that they offer, in order to increase the school's pass rates. The school has also won a national library award, and this building now houses the computer lab.

The Clairwood Secondary School is one of the few trade schools in the province that serves underprivileged children. This is a large school equipped with a computer laboratory - but this was outdated and obsolete, as funding to update it could not be obtained.

"Most jobs nowadays require the use of PCs which contain the mechanics of running a small business, so it made good sense to provide this school with an updated laboratory for the pupils. They are now able to learn trades that fill both chronic skills gaps in the marketplace, and that will create employment at a time of extremely high unemployment levels," says Michael.

"There is no doubt that technology is the primary enabler in the workplace - whether it's through access to research facilities on the internet, through collaborative work process or design programs, or through the business applications that make it simple for employers to pay their workers without using cash,' says Belamant. "Net1 is continually investing in technology that makes it easier to do business, and easier for people to transact. We are privileged and honoured to be able to open the way for the pupils at these three schools to become participants in the technology economy of the future."

Notes to Editors

About Net1 (www.net1.com)

Net1 is a leading provider of alternative payment systems that leverage its Universal Electronic Payment System ("UEPS"), to facilitate biometrically secure, real-time electronic transaction processing to unbanked and under-banked populations of developing economies around the world in an online or offline environment.

Net1's UEPS/EMV solution is interoperable with global EMV standards that seamlessly permit access to all the UEPS functionality in a traditional EMV environment. In addition to payments, UEPS can be used for banking, healthcare management, payroll, remittances, voting and identification.

Net1 operates market-leading payment processors in South Africa and the Republic of Korea. In addition, Net1's proprietary MVC technology offers secure mobile payments and banking services in developed and emerging countries.

Net1 has a primary listing on the NASDAQ and a secondary listing on the Johannesburg Stock Exchange Limited.

About giveITback

giveITback partners with corporate sponsors to equip underprivileged rural schools with fully functioning computer laboratories, giving learners access to the power of technology so that they can complete a meaningful education, and embark on successful careers in the workplace after they have completed school. Laboratories are supplied fully equipped, with infrastructure support, using wither conventional electricity or solar power.

Contact Information

  • Tribeca Public Relations
    Keri Krug
    Senior Account Director
    +27 208 5530 or +27 83 344 6855
    kerik@tribecapr.co.za