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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 l3bO3qZxd8vdixOGEx/FLg==

<SEC-DOCUMENT>0000893750-06-000205.txt : 20060707
<SEC-HEADER>0000893750-06-000205.hdr.sgml : 20060707
<ACCEPTANCE-DATETIME>20060707155523
ACCESSION NUMBER:		0000893750-06-000205
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060622
FILED AS OF DATE:		20060707
DATE AS OF CHANGE:		20060707

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NET 1 UEPS TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0001041514
		STANDARD INDUSTRIAL CLASSIFICATION:	FUNCTIONS RELATED TO DEPOSITORY BANKING, NEC [6099]
		IRS NUMBER:				650903895
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		4TH FLOOR, PRESIDENT PLACE
		STREET 2:		CNR. JAN SMUTS & BOLTON
		CITY:			ROSEBANK, JOHANNESBURG
		STATE:			T3
		ZIP:			00000
		BUSINESS PHONE:		27 11 343 2000

	MAIL ADDRESS:	
		STREET 1:		4TH FLOOR, PRESIDENT PLACE
		STREET 2:		CNR. JAN SMUTS & BOLTON
		CITY:			ROSEBANK, JOHANNESBURG
		STATE:			T3
		ZIP:			00000

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Brait S.A.
		CENTRAL INDEX KEY:			0001293886
		STATE OF INCORPORATION:			N4
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31203
		FILM NUMBER:		06951343

	BUSINESS ADDRESS:	
		STREET 1:		180 RUE DES AUBEPINES
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-1145
		BUSINESS PHONE:		(352269) 255-2180

	MAIL ADDRESS:	
		STREET 1:		180 RUE DES AUBEPINES
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-1145
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form_4ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-06-22</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001041514</issuerCik>
        <issuerName>NET 1 UEPS TECHNOLOGIES INC</issuerName>
        <issuerTradingSymbol>UEPS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001293886</rptOwnerCik>
            <rptOwnerName>Brait S.A.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>180 RUE DES AUBEPINES</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>LUXEMBOURG</rptOwnerCity>
            <rptOwnerState>N4</rptOwnerState>
            <rptOwnerZipCode>L-1145</rptOwnerZipCode>
            <rptOwnerStateDescription>LUXEMBOURG</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.001 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2006-06-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>163646</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>24.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>503022</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>*See Explanation of Responses</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The Reporting Persons are South African Private Equity Fund III, L.P., (&quot;SAPEF III Fund&quot;), SAPEF III International G.P.
 Limited (&quot;SAPEF G.P.&quot;), Brait International Limited (&quot;Brait International&quot;), South Africa Private Equity Trust III (&quot;SAPET
 III&quot;), Brait Capital Partners Trustee Pty Ltd (&quot;BCP Trustees&quot;), Brait South Africa Ltd (&quot;BSA&quot;), Capital Partners Group
 Holdings Limited (&quot;Capital Partners&quot;) and Brait S.A. (&quot;Brait S.A.&quot;). The securities are held of record by SAPEF III Fund.
 SAPEF III Fund is the beneficial owner of 8,718,504 securities, SAPET III is the beneficial owner of 166,458 securities and
 Brait International is the beneficial owner of 503,022 securities. As the general partner of SAPEF III Fund, SAPEF G.P. may
 be deemed to be the beneficial owner of securities held by SAPEF III Fund.</footnote>
        <footnote id="F2">As a shareholder of SAPEF G.P., and as the parent company of Brait International, Capital Partners may be deemed to be
 the beneficial owner of securities held by each of SAPEF G.P. and Brait International. As the parent company of Capital
 Partners, Brait S.A. may be deemed to be the beneficial owner of securities held by Capital Partners. Each of the Reporting
 Persons, except for SAPEF III Fund and Brait International, disclaims beneficial ownership of the securities, except the
 extent of its pecuniary interest.</footnote>
        <footnote id="F3">As the Trustee of SAPET III, BCP Trustees may be deemed to be the beneficial owner of the securities held  by SAPET.
 As a shareholder of BCP Trustees  BSA may be deemed to be a beneficial owner of the shares held by SAPET III. As the
 shareholder of BSA, Brait S.A. may be  deemed to be the beneficial owner of securities held by BSA. BCP Trustees and Brait
 S.A. disclaim beneficial ownership of the securities, except to its pecuniary interest.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Antony Ball</signatureName>
        <signatureDate>2006-07-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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