Serge Belamant from London, England is known as the founder of NET1 in 1989 in London, England. What NET1 technologies was made to process social grant payments from the South African government. Serge Belamant used technology of his own design to approve electronic without the letting the card owner know.

When the partied ended in 1994 South Africa was hit with a wave of Poverty because of this the African national congress guaranteed the South African People guaranteed social security. Even though this was done, because the 9 providence already had their own system in place it made it nearly impossible to find any of the grant holders.

Due to this Net 1 technologies came in and solved the problems the South African government had trouble finding a solution to. Because of all of this another competitor with Net1 technologies known as AllPay decided to take legal action AllPay thought they were purposely taken out giving NET1 technologies legal trouble and because of these appeals were made. Because the high court couldn’t find anything the law defined as illegal even if the technology was a little glitching.  The main reason Serge Belamant’s company was chosen over AllPay was NET1 had a solution to the problem at hand which was locating the recipients of grants that rightfully belonged to said grant holder. AllPay went after the supreme court of appeals in 2013. Serge Belamant was worried that AllPay would not defend the speculation that they were responsible for Net1’s share price to drop 45% the day after allegations were brought forth to Net1 and so more

Serge Belamant was CEO of Net1 until May of 2017.Because all of this there was a lot of backlash and that left Serge puzzled. Not all is over for Serge Belamant he was looking for possible opportunities of August 2018.