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Equity-Accounted Investments And Other Long-Term Assets (Tables) | 12 Months Ended
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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 public l y 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, 20 20 and February 28, 20 20, 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 t o 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 value s and therefore elected to record th e s e investment s 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, 2 018.
Summary Of Components Of Equity Securities Without Readily Determinable Fair Value And Held To Maturity Investments |
|  |  |  |  |  |  |  |  |  |  | Cost basis |  |  | Unrealized holding |  |  | Unrealized holding |  |  | Carrying |
|  |  |  |  |  |  |  |  |  |  |  |  | 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 |
|  |  |  |  |  |  |  |  |  |  |  |  | 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.

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