Allan Gray: Net1 can't be seen to be benefiting from grants distribution

Chief Operating Officer of Allan Gray, Rob Dower, says they are trying to get Net1 to do the sensible thing in the distribution of grants to 17 million grant beneficiaries on April 1. This is an obligation they've been executing for the past five years.

Dower says they were surprised by Net1's submissions to the Constitutional Court on Thursday in which they showed they will be making a huge profit out of the Sassa extended contract.

We certainly don't think it will be good for the company to be seen benefiting from this.

Rob Dower, Chief Operating Officer of Allan Gray

Dower says they have been putting pressure on Net1 to respond to the accusation made by Amabhungane (investigations unit) on Thursday claiming that they have proof that Net1 and CPS uses personal data of social grant beneficiaries to market its subsidiaries' products like selling them funeral cover, airtime and electricity.

We asked them to call it a holiday on airtime reductions and send free smses in someone's home language and offer them to opt out of the insurance contract. We are very keen to hear their explanation on the matter.

Rob Dower, Chief Operating Officer of Allan Gray

Allan Gray holds a 15.6% stake in the company on behalf of investors, making it the second largest shareholder in the company.

To hear more of this conversation, please listen below:


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