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Accounts Receivable, Net And Other Receivables And Finance Loans Receivable, Net | 12 Months Ended
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Jun. 30, 2020
Accounts Receivable, Net And Other Receivables And Finance Loans Receivable, Net [Abstract] |
Accounts Receivable, Net And Other Receivables And Finance Loans Receivable, Net | 5. Accounts receivable, net and other receivables and finance loans receivable, net Accounts receivable, net and other receivables The Company’s accounts receivable, net, and other receivables as of June 30, 2020, and June 30, 2019, are presented in the table below:
|  |  |  |  | June 30, |  | June 30, |  |
|  |  |  |  | 2020 |  | 2019 |  |
| Accounts receivable, trade, net | $ |  | 8 458 |  |  | $ |  | 12 637 |  |  |
| Accounts receivable, trade, gross |  |  | 8 711 |  |  |  |  | 13 298 |  |  |
| Allowance for doubtful accounts receivable, end of period |  |  | 253 |  |  |  |  | 661 |  |  |
|  | Beginning of period |  |  | 661 |  |  |  |  | 678 |  |  |
|  | Reversed to statement of operations |  |  | (155) |  |  |  |  | (22) |  |  |
|  | Charged to statement of operations |  |  | 181 |  |  |  |  | 3 118 |  |  |
|  | Utilized |  |  | (151) |  |  |  |  | (3 059) |  |  |
|  | Deconsolidation |  |  | (178) |  |  |  |  | (38) |  |  |
|  | Foreign currency adjustment |  |  | (105) |  |  |  |  | (16) |  |  |
| Taxes refundable related to sale of Net1 Korea (Note 3) |  |  | 19 796 |  |  |  |  | - |  |  |
| Loans provided to Carbon |  |  | 3 000 |  |  |  |  | 3 000 |  |  |
| Current portion of amount outstanding related to sale of remaining interest in DNI (Note 10) |  |  | 2 756 |  |  |  |  | - |  |  |
| Loan provided to DNI |  |  | - |  |  |  |  | 4 260 |  |  |
| Other receivables |  |  | 9 058 |  |  |  |  | 11 238 |  |  |
|  | Total accounts receivable, net | $ |  | 43 068 |  |  | $ |  | 31 135 |  |  |
Accounts receivable, trade, gross includes amounts due from customers from the provision of transaction processing services, from the sale of hardware, software licenses and SIM cards and rentals from POS equipment. The Company did not record any bad debt expense during the year ended June 30, 2020 and 2019, respectively and bad debts incurred were written off against the allowance for doubtful accounts receivable. During the year ended June 30, 2018, the Company recorded bad debt expense of $0.1 million. The loan provided to Carbon was scheduled to be repaid before June 30, 2020, however, Carbon requested a payment holiday as a result of the impact of the COVID-19 pandemic on its business. The parties had not agreed new repayment terms as of June 30, 2020, but the Company acknowledges these unexpected challenges currently facing Carbon and continues to engage with Carbon to agree a revised repayment date. The Company does not believe that the loan provided to Carbon is impaired. The current portion of amount outstanding related to sale of remaining interest in DNI as of June 30, 2020, relates to the transaction completed in April 2020 (refer to Note 10). The loan provided to DNI as of June 30, 2019, was repaid in full in July 2019. Other receivables include prepayments, deposits and other receivables. Finance loans receiv able, net The Company’s finance loans receivable, net, as of June 30, 2020, and June 30, 2019, is presented in the table below:
|  |  |  |  | June 30, |  |  | June 30, |  |
|  |  |  |  | 2020 |  |  | 2019 |  |
| Microlending finance loans receivable, net | $ |  | 15 879 |  |  | $ |  | 20 981 |  |  |
| Microlending finance loans receivable, gross |  |  | 17 737 |  |  |  |  | 24 180 |  |  |
| Allowance for doubtful finance loans receivable, end of period |  |  | 1 858 |  |  |  |  | 3 199 |  |  |
|  | Beginning of period |  |  | 3 199 |  |  |  |  | 4 239 |  |  |
|  | Reversed to statement of operations |  |  | (492) |  |  |  |  | - |  |  |
|  | Charged to statement of operations |  |  | 1 211 |  |  |  |  | 28 802 |  |  |
|  | Utilized |  |  | (1 451) |  |  |  |  | (29 721) |  |  |
|  | Foreign currency adjustment |  |  | (609) |  |  |  |  | (121) |  |  |
| Working capital finance loans receivable, net |  |  | - |  |  |  |  | - |  |  |
| Working capital finance loans receivable, gross |  |  | 5 800 |  |  |  |  | 5 800 |  |  |
| Allowance for doubtful finance loans receivable, end of period |  |  | 5 800 |  |  |  |  | 5 800 |  |  |
|  | Beginning of period |  |  | 5 800 |  |  |  |  | 12 037 |  |  |
|  | Charged to statement of operations |  |  | - |  |  |  |  | 748 |  |  |
|  | Utilized |  |  | - |  |  |  |  | (6 985) |  |  |
|  | Total accounts receivable, net | $ |  | 15 879 |  |  | $ |  | 20 981 |  |  |
Total finance loans receivable, net, comprises microlending finance loans receivable related to the Company’s microlending operations in South Africa. During the year ended June 30, 2019, the Company recorded an increase in its allowance for doubtful micro lending finance loans receivable of approximately $28.8 million. This high level of allowance related to the non-funding of accounts for a portion of the EPE customer base as a result of the auto-migration of the customer base to the South Africa Post Offi ce account offering during the three months ended December 31, 2018. During the year ended June 30, 2019, the Company utilized $29.7 million of this allowance for doubtful microlending finance loans receivable. G ross microlending finance loans receivable as of June 30, 2020, were lower than as of June 30, 2019, partially due to the impact of COVID-19 on the Company’s microlending business. The Company was unable to originate loans in April and early May 2020, and therefore the lending book reduced significa ntly as customers made scheduled repayments. The lending book has subsequently increased through August 2020 as the Company recommenced loan origination s from mid-May 2020. During the year ended June 30, 2018, the C ompany exited its working capital financ e businesses in Europe and the United States. The Company created an allowance for doubtful working capital finance receivables related to receivables due from customers based in the United States during the year ended June 30, 2018, and utilized approxima tely $6.8 million of this allowance during the year ended June 30, 2019.

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