Net1 pays CEO Serge Belamant R105m (in cash) and R655 500 per month for 2 years

Net1, owner of the controversial social grant payment provider Cash Paymaster Services (CPS), will pay its notorious CEO Serge Belamant R105 million in cash due to him agreeing to vacate his position a year early.

For two additional years, starting this month, the company will pay him R655 500 per month for a half day’s work.

The Money Show’s Bruce Whitfield interviewed Laurence Grubb, MD at Khokhela Consulting.

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

There is a lot of push from executives to get as much as they can.

Laurence Grubb, Khokhela Consulting

They must want him out of there desperately… I don’t know why they bought him out at a premium.

Laurence Grubb, Khokhela Consulting

He should’ve been very happy to keep his shares!

Laurence Grubb, Khokhela Consulting

There is no doubt that Whitey Basson delivered unbelievable value to shareholders.

Laurence Grubb, Khokhela Consulting

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Article brought to us by Old Mutual.

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