EXHIBIT 21

SUBSIDIARIES OF REGISTRANT

The following is a list of subsidiaries of the Net 1 UEPS Technologies, Inc. as of June 30, 2006:

NAME	WHERE ORGANIZED
Net 1 Applied Technologies South Africa Limited	Republic of South Africa
NUEP Holdings S.a.r.l.	Luxembourg
Cash Paymaster Service (Pty) Limited	Republic of South Africa
Cash Paymaster Services (Eastern Cape) (Pty) Limited	Republic of South Africa
Cash Paymaster Services (Northern) (Pty) Limited	Republic of South Africa
Cash Paymaster Services (KwaZulu Natal) (Pty) Limited	Republic of South Africa
Cash Paymaster Services (Northern Cape) (Pty) Limited	Republic of South Africa
Cash Paymaster Services (North West) (Pty) Limited	Republic of South Africa
Cash Paymaster Services (Gauteng) (Pty) Limited	Republic of South Africa
Net1 Finance Holdings (Pty) Limited	Republic of South Africa
Moneyline Financial Services (Pty) Limited	Republic of South Africa
New World Finance (Pty) Limited	Republic of South Africa
Friedland 035 Investments (Pty) Limited	Republic of South Africa
Siyeza Security Services (Pty) Limited	Republic of South Africa
Sinqobile Security Services (Gauteng) (Pty) Limited	Republic of South Africa
Prism Holdings Limited	Republic of South Africa