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. reports developments tied to its South African fintech platform for Southern Africa's underserviced consumers and merchants. The company provides transactional accounts, lending, insurance, merchant acquiring, cash management, software and Alternative Digital Products, with targeted payment integrations across consumers, merchants and enterprises.
Recurring news includes quarterly and annual financial results, webcast and conference-call notices, capital-structure disclosures and operating updates across the Merchant, Consumer and Enterprise activities. Company updates also reflect its primary NASDAQ listing under LSAK and secondary Johannesburg Stock Exchange listing under LSK.
Lesaka Technologies announced the release of Connect Group’s audited financial statements for the two years ending February 28, 2022, showcasing a 22% increase in revenue to R5.1 billion. Key highlights include a 37% increase in gross profit to R570 million and an EBITDA growth of 26% to R382 million, surpassing expectations. A webcast is scheduled for July 7, 2022, to discuss these results. The acquisition of Connect Group has been successful, with performance exceeding the warranted EBITDA of R375 million planned in the acquisition agreement.
Lesaka Technologies, Inc. (NasdaqGS: LSAK; JSE: LSK) has officially commenced trading under its new name and tickers on both the NasdaqGS and Johannesburg Stock Exchange as of May 25, 2022. This change follows shareholder approval on May 6, 2022, and confirmation from the Florida Secretary of State of the amendment to its articles of incorporation. Lesaka aims to enhance financial inclusion in Southern Africa by offering a range of financial services including cash management and lending solutions.