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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 EubXh0O3Q+CLPH9fBxmsRMA96JiEpVd4ivt2JiFb8vaIBjXua5Va4bj3pC2EpKxo
 tY7kysGVpvCA0PSEVDINow==

<SEC-DOCUMENT>0000893750-09-000454.txt : 20090807
<SEC-HEADER>0000893750-09-000454.hdr.sgml : 20090807
<ACCEPTANCE-DATETIME>20090807154500
ACCESSION NUMBER:		0000893750-09-000454
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090805
FILED AS OF DATE:		20090807
DATE AS OF CHANGE:		20090807

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:				980171860
		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:		09995659

	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>brait_form4ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-08-05</periodOfReport>

    <notSubjectToSection16>1</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></rptOwnerStreet1>
            <rptOwnerStreet2>180 RUE DES AUBEPINES</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 $.001 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2009-08-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>8718504</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>13.5</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>*See explanation of responses</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $.001 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2009-08-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>503022</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>13.5</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>*See explanation of responses</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">These securities were required to be sold pursuant to the stock repurchase agreement</footnote>
        <footnote id="F2">These securities were held by South African Private Equity Fund III, L.P. (&quot;SAPEF III Fund&quot;). As the general partner of SAPEF
 III Fund, SAPEF III International G.P. Limited (&quot;SAPEF G.P.&quot;) may be deemed to be the beneficial owner of securities held by
 SAPEF III Fund.  As a shareholder of SAPEF G.P., Capital Partners Group Holdings Limited (&quot;Capital Partners&quot;) may be deemed
 to be the beneficial owner of securities held by SAPEF G.P.  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 SAPEF G.P. and Capital Partners disclaims
 beneficial ownership of the securities, except to the extent of its pecuniary interest.</footnote>
        <footnote id="F3">These securities were held by Brait International Limited (&quot;Brait International&quot;).  As the parent company of Brait
 International, Capital Partners may be deemed to be the beneficial owner of securities held by 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.  Capital Partners disclaims beneficial ownership of the securities, except to the extent of its pecuniary
 interest.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/S/ ANTONY BALL</signatureName>
        <signatureDate>2009-08-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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