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Net1 Receives Green Light to Resume Long-Term Insurance Activities

Jul 01, 2015 - Marketwired

Net 1 UEPS Technologies, Inc. ("Net1") (NASDAQ: UEPS) (JSE: NT1) today announced that its subsidiary, The Smart Life Insurance Company Limited ("Smart Life"), has received a notice from the South African Financial Services Board ("FSB"), informing Smart Life that, with immediate effect, the FSB has withdrawn the prohibition to conduct new business it issued on February 23, 2013.

"We are delighted with the FSB's decision after a process that took more than two years and resulted in a painfu...