South Africa’s Net1 UEPS Technologies, which facilitates payments between institutions and individuals without easy access to banking services, announced on Tuesday that it has been ranked on Fortune’s 100 Fastest-Growing Companies list for 2015. By Staff Writer
The Fortune magazine’s annual list of 100 Fastest-Growing Companies focuses on public companies with the most stellar three-year profit, revenue, and stock growth.
“I am very proud of our maiden inclusion in Fortune’s 100 Fastest Growing Companies list,” said Serge Belamant, chairman and CEO of Net1. “Our ranking in the top 100 affirms the efforts of the Net1 global team over the last three years and I look forward to sustaining the momentum as we diversify our activities.”
Fortune’s methodology includes companies that have posted an annualized growth in revenue and earnings per share (EPS) of at least 15% annually over the three years ended on or before April 30, 2015. Companies that meet these criteria are ranked by revenue growth rate, EPS growth rate and three-year annualized total return for the period ended June 30, 2015.
Net1 ranked 60th for EPS growth, 91st for revenue growth, 78th for total return and 99th overall.
The company that is valued at more than R13 billion also owns Zazoo, one of the fastest technology business that is expanding in the UK, India and the US.
The company has seen Zazoo’s global footprint expanding into 12 African countries, and it also has a presence in Colombia, India, Spain, South Korea, the Philippines, the UK and the US.
Zazoo plans to take Net1’s patented technology, such as mobile virtual card (MVC) payment app and soon-to-be launched Biometric Variable PIN, to new markets, using London as a convenient hub from which to coordinate all its global deals.