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Abstract
(CCNMatthews - Dec. 2, 2005) - Net 1 UEPS Technologies, Inc. (NASDAQ:UEPS) ("Net1" or the "Company") announced today the appointment of Mr. Martin Shipanga as Vice President, African Emerging Markets. "We are excited that Martin has joined our team. We will be looking to him to assist in the deployment of our African footprint and more specifically, to position our Net1 brand as the most popular means of transacting electronically across the African continent," said Dr. Serge Belamant, Chief Executive Officer of Net1.
Mr. Shipanga most recently served as the Chief Executive Officer of Nedbank Namibia and as the Chief Executive Officer of the City of Windhoek, the capital of Namibia. Mr. Shipanga has over 12 years of executive management experience. In view of the strategic role that Mr. Shipanga has played in the public, private and financial sectors throughout Namibia, he will initially be seconded on a part time basis as the Executive Chairman of SmartSwitch Namibia (Pty) Limited ("SmartSwitch"), the 50/50 joint venture set up between Namibia Post Limited and Net1.