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                                                                    Exhibit 10.1


                              CONSULTING AGREEMENT

CONSULTING AGREEMENT dated as of 1st October, 1999 (the "Agreement"), by and
between Net1 Holdings S.A.R.L., a Luxembourg Corporation (the "Company"),
and Claude Guerard (the "consultant").

WHEREAS, the Company desires that the Consultant provide the Company and its
affiliates with certain consulting and advisory services, and the Consultant
desires to render such services to the Company in consideration of a consulting
fee.

NOW, THEREFORE, and in consideration of the foregoing premises and for other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:

1.      CONSULTING SERVICES

        During the term of this Agreement, the Consultant shall be available
        generally to render advice to the Company and its affiliates on matters
        including but not limited to the corporate restructuring of the Company
        and its affiliates and the development and implementation of a
        partnership network on a worldwide base.

2.      COMPENSATION EXPENSES

        As compensation for the Consultant's services hereunder, the Company
        shall pay the Consultant a consulting fee in the amount of US$ 12,500
        (Twelve Thousand, Five Hundred Dollars Only) per month, payable on the
        first day of each month. In addition, the Consultant shall be
        reimbursed for necessary and reasonable business expenses incurred
        by the Consultant in connection with the performance of his duties
        hereunder, including, without limitation, the cost of necessary office
        supplies and equipment.

3.      TERM

        The term of this Agreement shall commence on 1st October 1999 for one
        quarter and thereafter renewed each quarter, unless sooner terminated
        by agreement of the parties with one week notice period.

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4.      INDEMNIFICATION

        (a)     The Company agrees to indemnify and hold harmless the Consultant
                from any and all claims, liabilities, losses, costs, damages,
                expenses, judgements, fines and amounts paid in settlement
                (including attorney's fees), arising from any source whatsoever.
                The Company shall be entitled to direct the defense of any claim
                for which it is obligated to provide indemnification, at the
                Company's expense, but such defense shall be conducted by legal
                counsel mutually agreed to by the Company and the Consultant.
                The company agreed to keep the Consultant informed on a timely
                basis of the status of all legal proceedings relating to this
                indemnification and shall provide copies of all documents
                relating to the legal proceedings to the Consultant or at the
                Consultant's request, its legal counsel. The company further
                agreed that it will not settle, compromise or consent to the
                entry of any judgement in any pending or threatened claim,
                action or proceeding in which it is obligated to provide
                indemnification hereunder without the prior written consent of
                the Consultant, which consent shall not be unreasonably withheld
                or delayed.

        (b)     Expenses incurred in defending any threatened or pending civil,
                criminal, administration or investigative action, suit or
                proceeding shall be paid by the Company in advance of the final
                disposition of such action, suit or proceeding, upon receipt of
                an undertaking by or on behalf of the Consultant to repay such
                amount if it is ultimately determined, in a final non-appealable
                judgement of a court of competent jurisdiction, that the
                Consultant is not entitled to be indemnified against such
                expenses solely as a result of the Consultant's gross negligence
                or intentional wrongdoing. This undertaking by the Consultant
                shall be an unqualified general undertaking, and no security for
                such undertaking will be required.

        (c)     All of the Consultant's rights under this Section 4 will
                continue even after this Agreement has been terminated for any
                reason.
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5.      ASSIGNABILITY

        This Agreement shall be binding upon and shall inure to the benefit of
        and be enforceable by the parties and their respective successors;
        provided that neither party may assign its rights or obligations
        hereunder without the prior written consent of the other.

6.      NOTICES

        All notices and other communications required or permitted by this
        Agreement or by law to be served upon or given to a party hereto by the
        other party hereto shall be deemed duly made after delivery by hand or
        registered commercial overnight courier, return receipt requested,
        addressed as follows:

        If To The Company, To:

        Net1 Holdings, S.A.R.L.
        4th Floor, North Wing,
        President Place
        Cnr Jan Smuts Avenue & Bolton Road
        ROSEBANK, JOHANNESBURG
        Attention Serge C P Belamant

        If To The Consultant, To:

        Mr Claude Guerard
        20 Avenue Pozzo Di Borgo,
        92210 Saint Cloud
        FRANCE
        Attention Claude Guerard

7.      COUNTERPARTS

        This Agreement may be executed in counterparts, each of which shall be
        deemed to be an original, and all of which together will constitute one
        and the same instrument.
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8.      HEADINGS

        The headings contained herein are for reference purposes only and shall
        not in any way affect the meaning or interpretation of the Agreement.

9.      GOVERNING LAW

        This Agreement shall be governed by and construed in accordance with
        the internal laws of Luxembourg, without regard to the conflicts of
        law principles hereto.

10.     AMENDMENT

        This Agreement may be amended only with the prior written approval of
        each of the parties hereto.

        IN WITNESS WHEREOF, the parties, each by its duly authorised signatory,
        have executed this Agreement as of the date first above written.


        FOR & ON BEHALF OF NET1 HOLDINGS, S.A.R.L.



        /s/ S. Belamant
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        Mr S C P Belamant

        Joint Executive Director


        ACCEPTED BY:


        /s/ C. Guerard
        ----------------------------------------
        Mr C Guerard