South Africa: Net1 buys informal market prepaid airtime distributor

22 June 2018

Money Transfer

The Competition Tribunal has approved the merger between Net1 Applied Technologies South Africa and DNI-4PL Contracts without conditions.

Net1 is owned by Net1 UEPS Technologies Inc, an American company. In South Africa Net1 provides payment solutions, transaction processing services and financial technology across multiple industries.

Net1 sells airtime to Net1’s merchant network which in turn sells airtime to end consumers. These include EasyPay, RMT Systems and Manje Mobile Electronic Payment Services.

DNI is engaged in retail communications and distributions to South Africa’s informal market. Its services include the sale and distribution of prepaid airtime and starter packs.

The Commission found that the proposed transaction is unlikely to substantially prevent or lessen competition in any market.

Source: Business Tech