Equity-Accounted Investments And Other Long-Term Assets (Tables)

12 Months Ended

Jun. 30, 2020

Ownership Percentage Of Equity-Accounted Investments

	June 30,	June 30,
	2020	2019
Bank Frick & Co AG (“Bank Frick”)	35%	35%
DNI	-	30%
Finbond Group Limited (“Finbond”)	31%	29%
Carbon Tech Limited (“Carbon”), formerly OneFi Limited	25%	25%
Revix (“Revix”)	25%	-
SmartSwitch Namibia (Pty) Ltd (“SmartSwitch Namibia”)	50%	50%
V2 Limited (“V2”)	50%	50%
Walletdoc Proprietary Limited (“Walletdoc”)	20%	20%

Summary Of Movement In Equity-Accounted Investments

					Bank Frick		Finbond		DNI		Other⁽¹⁾		Total
Investment in equity
	Balance as of June 30, 2018 - as reported				$	48 129	$	28 982	$	-	$	5 865	$	82 976
		Correction of Finbond error (Note 1)				-		(2 540)		-		-		(2 540)
		Balance as of June 30, 2018 - as restated				48 129		26 442		-		5 865		80 436
		Remeasurement of 8% of DNI (Note 3)				-		-		14 849		-		14 849
		Remeasurement of 30% of DNI (Note 3)				-		-		59 346		-		59 346
		Acquisition of shares				-		1 920		-		2 989		4 909
		Stock-based compensation				-		117		-		-		117
		Comprehensive (loss) income:				(1 542)		6 870		865		(684)		5 509
			Other comprehensive income			-		4 251		-		-		4 251
			Equity accounted (loss) earnings			(1 542)		2 619		865		(684)		1 258
				Share of net income (loss) (Note 1)		1 109		2 315		1 380		(684)		4 120
				Amortization of acquired intangible assets		(747)		-		(715)		-		(1 462)
				Deferred taxes on acquired intangible assets		180		-		200		-		380
				Dilution resulting from corporate transactions		-		304		-		-		304
				Other		(2 084)		-		-		-		(2 084)
		Dividends received				-		(1 920)		(864)		(454)		(3 238)
		Return of investment				-		-		-		(284)		(284)
		Sale of 8% of DNI				-		-		(14 996)		-		(14 996)
		Foreign currency adjustment (Note 1)⁽²⁾				653		(818)		1 830		(34)		1 631
		Balance as of June 30, 2019				47 240		32 611		61 030		7 398		148 279
		Acquisition of shares				-		274		-		2 500		2 774
		Stock-based compensation				-		71		-		-		71
		Comprehensive (loss) income:				(17 273)		4 067		(9 744)		(4 365)		(27 315)
			Other comprehensive income			-		2 227		-		-		2 227
			Equity accounted (loss) earnings			(17 273)		1 840		(9 744)		(4 365)		(29 542)
				Share of net income (loss)		1 421		1 857		4 676		(1 865)		6 089
				Amortization of acquired intangible assets		(569)		-		(1 874)		-		(2 443)
				Deferred taxes on acquired intangible assets		136		-		524		-		660
				Dilution resulting from corporate transactions		-		(17)		-		-		(17)
				Impairment		(18 261)		-		(13 070)		(2 500)		(33 831)
		Dividends received				(1 308)		(274)		(1 787)		(454)		(3 823)
		Sale of DNI				-		-		(36 508)		-		(36 508)
		Foreign currency adjustment⁽²⁾				1 080		(5 873)		(12 991)		(478)		(18 262)
	Balance as of June 30, 2020				$	29 739	$	30 876	$	-	$	4 601	$	65 216

Investment in loans:
	Balance as of June 30, 2018				$	-	$	-	$	-	$	3 152	$	3 152
		Transfer to accounts receivables, net				-		-		-		(3 000)		(3 000)
		Foreign currency adjustment⁽²⁾				-		-		-		(4)		(4)
	Balance as of June 30, 2019					-		-		-		148		148
		Loans granted				-		-		-		1 230		1 230
		Allowance for doubtful loans				-		-		-		(730)		(730)
		Foreign currency adjustment⁽²⁾				-		-		-		(28)		(28)
	Balance as of June 30, 2020				$	-	$	-	$	-	$	620	$	620

									Equity		Loans		Total
Carrying amount as of :
		June 30, 2019							$	148 279	$	148	$	148 427

		June 30, 2020							$	65 216	$	620	$	65 836

(1) Includes Carbon, SmartSwitch Namibia, V2 and Walletdoc;

(2) The foreign currency adjustment represents the effects of the fluctuations of the South African rand, Nigerian naira and Namibian dollar, against the U.S. dollar on the carrying value.

Summary Financial Information Of Equity-Accounted Investments

			Bank Frick		Finbond⁽¹⁾		DNI		Other⁽²⁾
Balance sheet, as of				June 30		February 28		June 30		Various
	Current assets⁽³⁾
		2020	$	n/a	$	n/a	$	n/a	$	19 910
		2019		n/a		n/a		35 608		17 781
	Long-term assets
		2020		1 042 366		294 734		n/a		6 145
		2019		1 013 677		232 047		39 851		2 304
	Current liabilities⁽³⁾
		2020		n/a		n/a		n/a		7 824
		2019		n/a		n/a		25 757		8 492
	Long-term liabilities
		2020		940 948		112 331		n/a		18 076
		2019		915 050		127 352		7 324		4 654
	Non-controlling interest
		2020		-		10 452		n/a		(73)
		2019		-		11 696		1 100		25

Statement of operations, for the period ended				June 30⁽⁴⁾		February 28		June 30⁽⁵⁾		Various
	Revenue
		2020		37 864		161 378		68 983		7 862
		2019		41 126		174 177		15 898		33 807
		2018		33 814		161 915		n/a		10 955
	Operating income (loss)
		2020		4 815		17 483		24 563		(5 064)
		2019		3 633		20 355		5 814		(753)
		2018		776		25 079		n/a		826
	Income (loss) from continuing operations
		2020		4 053		14 449		17 092		(5 116)
		2019		3 169		17 761		4 306		(915)
		2018		617		16 475		n/a		152
	Net income (loss)
		2020		4 053		6 433		15 772		(5 014)
		2019		3 169		9 385		4 481		(1 029)
		2018	$	617	$	9 311	$	n/a	$	152

(1) Finbond balances included were derived from its publicly available information and presented for its years ended February. The amounts as of February 28, 2019 and for the years ended February 28, 2019 and 2018, respectively, have been restated for the error described in Note 1;

(2) Includes Carbon, SmartSwitch Namibia, Revix, Walletdoc and V2, as appropriate. Balance sheet information for Carbon, SmartSwitch Namibia, Revix and V2 is as of June 30, 2020 and 2019, and Walletdoc as of February 29, 2020 and February 28, 2020, respectively. Statement of operations information for Carbon, SmartSwitch Namibia, Revix, and V2 for the year ended June 30, and Walletdoc for the year ended February 29/28 (as appropriate);

(3) Bank Frick and Finbond are banks and do not present current and long-term assets and liabilities. All assets and liabilities of these two entities are included under the long-term caption;

(4) Statement of operations information for 2018 for Bank Frick is for the period from October 1, 2017 to June 30, 2018;

(5) Statement of operations information for DNI is for the period from July 1, 2019 to March 31, 2020, and April 1, 2019 to June 30, 2019.

Summary Of Other Long-Term Asset

		June 30,		June 30,
		2020		2019

Total equity investments		$	26 993	$	26 993
	Investment in 15% of Cell C, at fair value (Note 7)		-		-
	Investment in 12% (2019: 13%) of MobiKwik		26 993		26 993
	Investment in 87.50% of CPS (Note 3)		-		-
Total held to maturity investments			-		-
	Investment in 7.625% of Cedar Cellular Investment 1 (RF) (Pty) Ltd 8.625% notes		-		-
Long-term portion of amount due from DNI related to sale of remaining interest in DNI			2 857		-
Policy holder assets under investment contracts (Note 12)			490		619
Reinsurance assets under insurance contracts (Note 12)			1 006		1 163
	Total other long-term assets	$	31 346	$	28 775

(1) The Company determined that MobiKwik and CPS do not have readily determinable fair values and therefore elected to record these investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The Company accounted for its investment in MobiKwik at cost as of June 30, 2018.

Summary Of Components Of Equity Securities Without Readily Determinable Fair Value And Held To Maturity Investments

				Cost basis		Unrealized holding		Unrealized holding		Carrying
				Cost basis		gains		losses		value
Equity securities:
	Investment in Mobikwik		$	26 993	$	-	$	-	$	26 993
	Investment in CPS			-		-		-		-
Held to maturity:
	Investment in Cedar Cellular notes			-		-		-		-
		Total	$	26 993	$	-	$	-	$	26 993

				Cost basis		Unrealized holding		Unrealized holding		Carrying
				Cost basis		gains		losses		value
Equity securities:
	Investment in MobiKwik		$	26 993	$	-	$	-	$	26 993
Held to maturity:
	Investment in Cedar Cellular notes			-		-		-		-
		Total	$	26 993	$	-	$	-	$	26 993

Summary Of Contractual Maturity Of Investment

Cost basis

Estimated fair value⁽¹⁾

Due in one year or less

Due in one year through five years ⁽²⁾

Due in five years through ten years

Due after ten years

Total

(1) The estimated fair value of the Cedar Cellular note has been calculated utilizing the Company’s portion of the security provided to the Company by Cedar Cellular, namely, Cedar Cellular’s investment in Cell C.

(2) The cost basis is zero ($0.0 million).

Disposal Of DNI On April 1, 2020 [Member]

Schedule Of Calculation Of Expected Gain (Loss) On Disposal Of DNI

				April 1
				2020
Loss on sale of DNI:
Consideration received in cash on April 1, 2020 - 26,886,310 shares				$	42 477
Consideration received with note on April 1, 2020 - present value of note - 3,508,455 shares					5 354
Less: transaction costs					(1 010)
Less: carrying value of DNI					(36 508)
Less: release of foreign currency translation reserve from accumulated other comprehensive loss					(11 323)
	Loss on sale of DNI before tax				(1 010)
	Taxes related to sale of DNI				-
		Capital gains tax related to sale of DNI⁽¹⁾			2 475
		Utilization of capital loss carryforwards⁽¹⁾			(2 475)
			Loss on disposal of DNI after tax	$	(1 010)

(1) Net1 SA recorded a valuation allowance related to capital losses previously generated but not utilized. The Company utilized approximately $12.0 million of these unutilized capital losses as a result of the disposal of its remaining interest in DNI in April 2020 and, therefore, the equivalent portion of the valuation allowance created was released.

Disposal Of DNI On May 3, 2019 [Member]

Schedule Of Calculation Of Expected Gain (Loss) On Disposal Of DNI

				May 2019 Disposal of 8% retained interest in DNI
May 3, 2019 fair value of consideration received				$	15 011
	Less: equity-method interest sold (Note 10)				(14 996)
	Less: released from accumulated other comprehensive loss – foreign currency translation reserve (as restated) (Note 1 and Note 16)				162
		May 2019 gain recognized on disposal, before tax			177
		Capital loss related to disposal⁽¹⁾			-
			Gain recognized on disposal, after tax, as of May 3, 2019	$	177

(1) The disposal of the 8% interest in DNI resulted in a capital loss for tax purposes of approximately $23.9 million and the Company provided a valuation allowance of $23.9 million against this capital loss because it did not have any capital gains to offset against this amount at the time.