Welcome to our dedicated page for Lesaka Tech news (Ticker: LSAK), a resource for investors and traders seeking the latest updates and insights on Lesaka Tech stock.
Lesaka Technologies Inc. (LSAK) delivers innovative fintech solutions through its Merchant and Consumer segments, specializing in payment processing and financial services across South Africa. This news hub provides investors with essential updates on strategic developments, operational milestones, and market positioning.
Access real-time updates on earnings reports, partnership announcements, and technology initiatives like the company's offline transaction capabilities. Track significant corporate actions including recent strategic acquisitions such as Adumo RF, which expand Lesaka's merchant services footprint.
The page consolidates press releases covering:
• Merchant segment developments: Payment processing innovations, prepaid product expansions
• Consumer financial services: Digital banking features, loan product updates
• Strategic growth: Market expansion efforts, technology investments
• Regulatory compliance: Operational licensing, service certifications
Bookmark this resource for streamlined monitoring of Lesaka's progress in transforming Southern Africa's digital payment landscape through accessible financial technologies.
Lesaka Technologies (Nasdaq: LSAK; JSE: LSK) has completed its acquisition of Adumo RF, South Africa's largest independent payments processor. The transaction, valued at ZAR 1.67 billion ($96.2 million), was settled through the issuance of 17,279,803 Lesaka shares and a cash payment of ZAR 232.2 million ($13.4 million).
This acquisition strengthens Lesaka's position as a leading fintech in Southern Africa, enhancing its consumer and merchant markets. The combined entity will serve 1.7 million active consumers, 120,000 merchants, and process over ZAR 270 billion in annual throughput. The Group will operate in 5 countries with over 3,300 employees.
Adumo CEO Paul Kent joins Lesaka's executive team, while Crossfin CEO Dean Sparrow joins the board as a non-executive director. Lesaka has also agreed to purchase 2,601,410 of its own shares for ZAR 207.2 million ($12.0 million) to provide liquidity to certain indirect Adumo shareholders.
Lesaka Technologies (Nasdaq: LSAK; JSE: LSK) reported its FY 2024 results, achieving profitability guidance and providing higher guidance for FY 2025. Key highlights include:
- Revenue increased 11% to $564.2 million (ZAR 10.6 billion)
- Operating income improved to $3.6 million from a loss of $15.3 million in FY 2023
- Net loss improved 48% to $17.4 million
- Group Adjusted EBITDA increased 55% to $36.9 million
- Net debt to Group Adjusted EBITDA ratio improved to 2.5x from 4.5x
For FY 2025, Lesaka expects revenue between ZAR 10.0-11.0 billion and Group Adjusted EBITDA between ZAR 900 million to ZAR 1 billion, representing over 30% growth. The outlook includes the impact of the Adumo acquisition and excludes unannounced M&A.
Lesaka Technologies, Inc. (LSAK) announced significant leadership changes to align with its growth targets and position as a leading fintech in Southern Africa. Key executive appointments include:
1. Naeem Kola, current Group CFO, will become Group COO from October 1, 2024.
2. Dan Smith will be appointed as Group CFO and join the Board.
Board changes include the resignations of Javed Hamid, Chris Meyer, and Monde Nkosi. Dean Sparrow, Group CEO of Crossfin Technology Holdings, will join as an independent non-executive director upon completion of the Adumo acquisition.
These changes aim to strengthen Lesaka's executive capability and drive strategic and operational synergies as the company scales and pursues its ambition to become Southern Africa's leading fintech platform.
Lesaka Technologies (NASDAQ: LSAK; JSE: LSK) has announced its plan to release Q4 and FY 2024 results on September 11, 2024, after market close. The company will host a presentation webcast and conference call on September 12, 2024, at 8:00 a.m. EST (2:00 p.m. SAST) to review the results.
Investors can access the webcast via Zoom using the link provided, where they can ask questions live. Conference call dial-in options are available for US and South Africa, but participants using this method won't be able to ask questions. A replay of the presentation will be available on Lesaka's investor relations website after the event.
Lesaka Technologies (NasdaqGS:LSAK; JSE: LSK) has announced its upcoming fourth quarter and year-end 2024 results release and presentation. The company will release its financial results on September 4, 2024, after the U.S. market close. A presentation webcast and conference call will be held on September 5, 2024, at 8:00 a.m. EST (2:00 p.m. SAST) to review the results.
Investors can access the webcast via Zoom, where they will have the opportunity to ask questions live. Conference call dial-in options are also available for both U.S. and South African participants, although those using the dial-in will not be able to ask questions. A replay of the presentation will be made available on Lesaka's investor relations website after the event.
Lesaka Technologies, Inc. released Q3 2024 results, showing an increase in revenue to $138.2 million, operating income of $0.8 million, and a reduced net loss of $4.0 million. Group Adjusted EBITDA rose to $9.7 million, fundamental earnings per share turned positive at $0.02, and revenue guidance for fiscal 2024 was re-affirmed. The Net debt to Group Adjusted EBITDA ratio improved to 2.6 times. Lesaka CEO highlighted strong performance, improved profitability, and excitement about the Adumo acquisition.
Lesaka Technologies, Inc. has agreed to acquire Adumo RF (Pty) for ZAR 1.59 billion ($85.9 million). The deal includes shares of Lesaka common stock and cash, funded internally and externally. Adumo's operations cover card acquiring, integrated payments, and corporate card services, with over 23,000 active merchants and processing ZAR 24 billion ($1.3 billion) annually. The acquisition will expand Lesaka's reach to 1.7 million consumers, 119,000 merchants, and process over ZAR 250 billion in throughput per year across Southern Africa, solidifying its position as a leading fintech platform in the region.
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