Why Allan Gray invested in Net1 UEPS (despite debates by its investment team)

--

(Also read "'CPS lures grant recipients into buying insurance (and taking out microloans)'".)

--

In this business [Net1 UEPS] there are clearly more issues than in most others.

Andrew Lapping, Allan Gray

It’s extremely unfortunate that there’s a great deal of poverty in this country. It’s tricky to say those people shouldn’t have access to certain financial services.

Andrew Lapping, Allan Gray

Allan Gray says its decision to invest in Net1 UEPS – parent company of social grants distributor Cash Paymaster Services (CPS) – caused vigorous debates among its investment team.

The asset manager owns 15.6% of Net1 UEPs.

The Money Show’s Bruce Whitfield interviewed Allan Gray Chief Investment Officer Andrew Lapping.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

We have engaged – because of the issues – far more than most.

Andrew Lapping, Allan Gray

We share your concerns.

Andrew Lapping, Allan Gray

We ensure that any business we’re investing in provides good value to their customers.

Andrew Lapping, Allan Gray

Without doubt; it is fairly grey.

Andrew Lapping, Allan Gray

We are OK with it. But our minds are always open.

Andrew Lapping, Allan Gray

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


This article first appeared on 702 : Why Allan Gray invested in Net1 UEPS (despite debates by its investment team)


Recommended

by THE NEWSROOM

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Economic researcher slams anti-poor VAT hike

Economic researcher slams anti-poor VAT hike

The Money Show’s Bruce Whitfield interviews Wits economic researcher Gilad Isaacs.

Anglo American profits soar. Pays highest dividend in a decade

Anglo American profits soar. Pays highest dividend in a decade

The Money Show’s Bruce Whitfield interviews Anglo American CEO Mark Cutifani.

Woolworths, pummelled in Australia, loses R4.86 billion

Woolworths, pummelled in Australia, loses R4.86 billion

The Money Show’s Bruce Whitfield interviews Woolworths CEO Ian Moir.

How to capitalise on an environment that has suddenly turned for the better

How to capitalise on an environment that has suddenly turned for the better

The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator’s Pavlo Phitidis.

How to plan financially, considering you’re poorer after Gigaba's hectic Budget

How to plan financially, considering you’re poorer after Gigaba's hectic Budget

The Money Show’s Bruce Whitfield interviews Galileo Capital Financial Advisor Warren Ingram.

'CPS lures grant recipients into buying insurance (and taking out microloans)'

'CPS lures grant recipients into buying insurance (and taking out microloans)'

Cash Paymaster Services shareholder Net1 UEPS is using the database of grant recipients to cross-sell services, says Sygnia’s CEO.

Popular articles
UK issues terror warning against SA after Brit couple abducted in KZN

UK issues terror warning against SA after Brit couple abducted in KZN

The British gov issued a travel advisory‚ warning of possible attacks when traveling to SA, after a UK couple was kidnapped.

Their way or the highway? 7 annoying habits many drivers are guilty of

Their way or the highway? 7 annoying habits many drivers are guilty of

Passengers often endure all sorts of irritations from drivers. Callers share their biggest gripes about folks behind the wheel.

[LISTEN] Gigaba deliberately misled the public - Zwelinzima Vavi

[LISTEN] Gigaba deliberately misled the public - Zwelinzima Vavi

Trade unions react to Malusi Gigaba's announcement of a one percentage point VAT increase for #Budget2018

Saps: Attackers spared 5 female cops in Ngcobo police shooting

Saps: Attackers spared 5 female cops in Ngcobo police shooting

E Cape Saps says they are investigating the murder of five police officers and one retired soldier at Ngcobo Police Station.

Missing Cape Town couple's vehicle found north of Durban

Missing Cape Town couple's vehicle found north of Durban

Hawks spokesperson says the couple has not yet been located and their names will not be released as yet.

How to make your first million

How to make your first million

Warren Ingram discusses his new book in which he shares practical ways for ordinary people to achieve financial freedom.