IFC fund trims Lesaka (LSAK) stake with March 2026 share sales

Rhea-AI Filing Summary

International Finance Corp, as a reporting person for Lesaka Technologies, disclosed recent indirect open-market sales by an affiliated fund. IFC African, Latin American and Caribbean Fund, LP (ALAC) sold 6,823 shares of common stock on March 4, 2026 at a weighted average price of about $4.65 per share, with trades between $4.70 and $4.62. On March 5, 2026, ALAC sold a further 4,290 shares at a weighted average price of about $4.59, within a $4.64–$4.53 range. Following these transactions, funds managed by International Finance Corp held 6,034,293 shares indirectly. International Finance Corp states it may be deemed to beneficially own these shares through three managed funds, but disclaims beneficial ownership except to the extent of any pecuniary interest.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

International Finance Corp

(Last) (First) (Middle)

2121 PENNSYLVANIA AVENUE

(Street)

WASHINGTON DC 20433

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LESAKA TECHNOLOGIES INC [ LSAK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/30/2017

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/30/2017		S		20,545	D	$9.04	2,761,070	D
Common Stock	10/31/2017		S		21,100	D	$9.1	2,739,970	D
Common Stock	11/01/2017		S		10,700	D	$9.09	2,729,270	D
Common Stock	11/02/2017		S		11,918	D	$9.07	2,717,352	D
Common Stock	11/03/2017		S		27,265	D	$9.05	2,690,087	D
Common Stock	11/06/2017		S		14,900	D	$8.96	2,675,187	D
Common Stock	11/07/2017		S		28,400	D	$9.14	2,646,787	D
Common Stock	11/08/2017		S		20,701	D	$9.19	2,626,086	D
Common Stock	11/09/2017		S		19,760	D	$9.24	2,606,326	D
Common Stock	11/10/2017		S		85,036	D	$9.74	2,521,290	D
Common Stock	11/13/2017		S		14,700	D	$9.64	2,506,590	D
Common Stock	11/13/2017		S		50,000	D	$9.63	2,456,590	D
Common Stock	11/14/2017		S		48,400	D	$9.5	2,408,190	D
Common Stock	11/15/2017		S		51,900	D	$9.48	2,356,290	D
Common Stock	11/16/2017		S		26,731	D	$9.53	2,329,559	D
Common Stock	02/07/2018		S		42,100	D	$10.83	2,287,459	D
Common Stock	02/08/2018		S		20,220	D	$11.06	2,267,239	D
Common Stock	05/19/2020		S		2,103,069	D	$4(1)	5,099,627	I	See footnote(2)(3)
Common Stock	10/02/2024		J(4)		1,004,623	A	$4.79	3,271,862	D
Common Stock	10/02/2024		J(5)		984,539	A	$4.79	6,084,166	I	See footnote(2)(3)
Common Stock	12/17/2025		S		100(6)	D	$4.33	6,084,066	I	See footnote(2)(3)
Common Stock	03/04/2026		S		6,823(7)	D	$4.65	6,077,243	I	See footnote(2)(3)
Common Stock	03/05/2026		S		4,290(8)	D	$4.59	6,034,293	I	See footnote(2)(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. On May 19, 2020, Africa Capitalization Fund Ltd. ("AFCAP") a Mauritius limited company primarily engaged in the business of investing in securities disposed of 2,103,069 shares of Common Stock for an aggregate sale price of $8,412,276, representing an approximate price of $4.00 per share.

2. The Reporting Person may be deemed to beneficially own shares of Common Stock held indirectly through three funds managed by the Reporting Person that invests third party capital in conjunction with the Reporting Person's investments: (a) IFC African, Latin American and Caribbean Fund, LP ("ALAC"), a United Kingdom limited partnership, of which IFC African, Latin American and Caribbean Fund (GP) LLC, a Delaware limited liability company, serves as general partner; (b) IFC Financial Institutions Growth Fund, LP ("FIG"), a United Kingdom limited partnership, of which IFC FIG Fund (GP), LLP, a United Kingdom limited liability partnership, serves as general partner; and (c) AFCAP.

3. The Reporting Person disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is a beneficial owner for the purpose of Section 16 of the Exchange Act, or for any other purpose.

4. Represents shares of Common Stock acquired by the Reporting Person as a result of the Issuer's acquisition of Adumo (RF) Proprietary Limited and its subsidiaries (the "Adumo Group").

5. Represents shares of Common Stock acquired by FIG as a result of the Issuer's acquisition of the Adumo Group.

6. Represents shares of Common Stock sold by ALAC.

7. Represents the weighted average price of Common Stock sold by ALAC on March 4, 2026, ranging from a low of $4.70 to a high of $4.62. The Reporting Person undertakes, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer to provide full information regarding the number of shares purchased at each separate price.

8. Represents the weighted average price of Common Stock sold by ALAC on March 5, 2026, ranging from a low of $4.53 to a high of $4.64. The Reporting Person undertakes, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer to provide full information regarding the number of shares purchased at each separate price.

Remarks:

IFC is an international organization established by Articles of Agreement among its member countries, including the United States, and as such, enjoys certain immunities, privileges and exemptions, including the freedom of all of its property and assets from restrictions, regulations, controls and moratoria of any nature. The voluntary provision by IFC of the following information does not in any way constitute or imply a waiver, termination or modification by IFC of any privilege, immunity or exemption of IFC granted in the Articles of Agreement establishing IFC, international conventions, or applicable law.

	/s/ MOHAMED OMER EISSA, Name: Mohamed Omer Eissa, Title: Portfolio Manager, on behalf of International Finance Corporation	03/06/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transactions did International Finance Corp report for Lesaka (LSAK)?

International Finance Corp reported indirect open-market sales of Lesaka common stock by its managed fund ALAC. ALAC sold 6,823 shares on March 4, 2026 and 4,290 shares on March 5, 2026, both at weighted average prices around $4.60 per share.

Which entity actually sold Lesaka Technologies (LSAK) shares in this Form 4?

The sales were made by IFC African, Latin American and Caribbean Fund, LP (ALAC), a fund managed by International Finance Corp. Footnotes specify that the disclosed March 2026 transactions represent shares of Lesaka common stock sold by ALAC, not directly by International Finance Corp.

At what prices were the March 2026 Lesaka (LSAK) insider share sales executed?

On March 4, 2026, ALAC’s sales had a weighted average price of about $4.65 per share, with trades between $4.70 and $4.62. On March 5, 2026, the weighted average was about $4.59, with prices ranging from $4.64 to $4.53 per share.

How many Lesaka (LSAK) shares do funds managed by International Finance Corp hold after these trades?

After the March 5, 2026 sales, the Form 4 shows 6,034,293 Lesaka common shares indirectly held following the transaction. These shares are held through three investment funds managed by International Finance Corp, which may be deemed to beneficially own them subject to its pecuniary interest.

How does International Finance Corp describe its beneficial ownership of Lesaka (LSAK) shares?

International Finance Corp states it may be deemed to beneficially own Lesaka shares held through three managed funds, including ALAC, FIG and AFCAP. However, it expressly disclaims beneficial ownership of the reported securities, except to the extent of its pecuniary interest in those holdings.

What earlier Lesaka (LSAK) share movements are referenced in the Form 4 footnotes?

Footnotes reference several prior events, including a May 19, 2020 sale of 2,103,069 shares by Africa Capitalization Fund Ltd. They also note shares acquired by International Finance Corp and FIG as a result of Lesaka’s acquisition of the Adumo Group, contributing to their current indirect holdings.