IFC funds trim stakes in Lesaka Technologies

Lesaka Technologies’ major shareholder group led by IFC has updated its ownership disclosure following open-market sales of common stock.

Rhea-AI Filing Summary

Lesaka Technologies’ major shareholder group led by IFC has updated its ownership disclosure following open-market sales of common stock. The filing shows International Finance Corporation reporting beneficial ownership of 3,271,862 shares, or 3.90% of Lesaka’s common stock. Related funds ALAC and FIG report 2,527,375 shares (3.01%) and 3,302,551 shares (3.94%), respectively, based on 83,920,675 shares outstanding as of February 2, 2026. Between March 4 and March 17, 2026, ALAC sold 254,140 shares in a series of market transactions for an aggregate price of $1,256,045, net of commissions, at weighted average prices generally between about $4.53 and $5.52 per share. The reporting persons state they may sell additional shares over time depending on market conditions but have no current plans for corporate control actions.

Insights

Equity ownership and governance analyst

IFC-linked funds modestly reduce Lesaka stakes, remaining mid-single-digit holders.

The amendment details incremental selling by IFC African, Latin American and Caribbean Fund (ALAC), which disposed of 254,140 Lesaka common shares for $1,256,045 net between March 4–17, 2026. These are routine open‑market trades rather than a structured block exit.

Post-transaction, IFC and affiliated vehicles each hold around 3–4% of the company, with IFC at 3.90%, ALAC at 3.01% and FIG at 3.94%, calculated off 83,920,675 shares outstanding as of February 2, 2026. The filing explicitly notes they may continue selling depending on market conditions, but does not outline any plans related to mergers, control changes or other strategic actions.

From an ownership-structure perspective, this signals a gradual trimming by long-term institutional holders rather than an abrupt exit. Actual market impact depends on future sale decisions and overall trading liquidity, which are not specified here.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the IFC Schedule 13D/A filing reveal about Lesaka Technologies (LSAK)?

The filing shows IFC and affiliated funds updating their beneficial ownership in Lesaka common stock. IFC reports 3,271,862 shares (3.90%), ALAC 2,527,375 shares (3.01%), and FIG 3,302,551 shares (3.94%), based on 83,920,675 shares outstanding as of February 2, 2026.

How many Lesaka (LSAK) shares did ALAC sell and for how much?

ALAC sold 254,140 Lesaka common shares between March 4 and March 17, 2026. These open‑market transactions generated aggregate net proceeds of $1,256,045, after brokerage commissions, at weighted average prices generally between about $4.53 and $5.52 per share.

Over what period did IFC’s ALAC fund sell Lesaka (LSAK) shares?

ALAC executed a series of market sales from March 4 through March 17, 2026. The filing itemizes daily blocks, including sales such as 6,823 shares on March 4 and 87,041 shares on March 17, all reported with weighted average prices and price ranges.

What is the basis for the ownership percentages reported in the Lesaka (LSAK) filing?

The ownership percentages use 83,920,675 Lesaka common shares outstanding as of February 2, 2026. This share count comes from the company’s Form 10‑Q for the quarter ended December 31, 2025 and is used to calculate each reporting person’s percentage of the class.

Do IFC and its funds plan further changes to their Lesaka (LSAK) holdings?

The reporting persons state they expect to sell additional common shares from time to time depending on market conditions. However, they emphasize there is no assurance they will sell any or all remaining shares and disclose no current plans for control-related corporate actions.

Which IFC-related entities are reporting Lesaka (LSAK) ownership in this amendment?

The amendment lists International Finance Corporation, IFC African, Latin American and Caribbean Fund (ALAC), IFC African, Latin American and Caribbean Fund (GP) LLC, IFC Financial Institutions Growth Fund, LP (FIG), and IFC FIG Fund (GP), LLP, each with its own reported voting and dispositive power details.

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Accepted by SEC EDGAR 03/17/2026 - 09:58 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

LESAKA Technologies

(Name of Issuer)

Common stock, par value $0.001 per share

(Title of Class of Securities)

(CUSIP Number)

Mr. Farid Fezoua
2121 Pennsylvania Avenue,
Washington, DC, 20433
(202) 522-3743

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

03/13/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

International Finance Corporation ("IFC")

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 3,271,862.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 3,271,862.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

3,271,862.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.90 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

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.

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

IFC African, Latin American and Caribbean Fund ("ALAC")

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,527,375.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,527,375.00

11

Aggregate amount beneficially owned by each reporting person

2,527,375.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.01 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

IFC African, Latin American and Caribbean Fund (GP) LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,527,375.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,527,375.00

11

Aggregate amount beneficially owned by each reporting person

2,527,375.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.01 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

IFC Financial Institutions Growth Fund, LP ("FIG")

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,302,551.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,302,551.00

11

Aggregate amount beneficially owned by each reporting person

3,302,551.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.94 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

IFC FIG Fund (GP), LLP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,302,551.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,302,551.00

11

Aggregate amount beneficially owned by each reporting person

3,302,551.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.94 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common stock, par value $0.001 per share
(b)	Name of Issuer: LESAKA Technologies
(c)	Address of Issuer's Principal Executive Offices: President Place, 4th Floor, Cnr., Jan Smuts Avenue and Bolton Road, Rosebank, Johannesburg, SOUTH AFRICA , 00000.
Item 1 Comment: This Amendment No. 4 to Schedule 13D (the "Amendment") is being filed with respect to the Reporting Persons' beneficial ownership in Lesaka Technologies, Inc. (f/k/a Net 1 UEPS Technologies, Inc.) (the "Issuer"). This amendment supplements the Schedule 13D as previously filed on June 1, 2016, as amended by Amendment No. 3 filed December 4, 2024, Amendment No. 2 filed August 19, 2022 and Amendment No. 1 filed on May 29, 2020 (as amended, the "Schedule 13D"). Each Item below amends and supplements the information disclosed under the corresponding Item of the Schedule 13D. Unless otherwise indicated herein, capitalized terms used but not defined in this Amendment shall have the same meaning herein as are ascribed to such terms in Schedule 13D.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended and supplemented as follows: We incorporate by reference Item 5(c) below.
Item 4.	Purpose of Transaction
	Item 4 of the Schedule 13D is hereby amended and supplemented as follows: The Reporting Persons set forth below sold the amount of shares of Common Stock on the dates and at the prices set forth below in a series of open market transactions. The Reporting Persons expect to sell additional shares of the Common Stock now held from time-to-time depending on market conditions; however, there is no assurance that the Reporting Persons will actually sell any or all of their shares of the Common Stock. Such sales may be in the open market, in privately negotiated transactions, or otherwise. Other than as described, the Reporting Persons do not currently have any plans or proposals that relate to, or would result in, any of the matters listed in Items 4(a)-(j) of Schedule 13D, although, depending on the factors discussed herein, the Reporting Persons may change their purpose or formulate different plans or proposals with respect thereto at any time.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and restated as follow: The aggregate percentage of Common Stock reported to be beneficially owned by the Reporting Persons is based upon 83,920,675 shares outstanding as of February 2, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarter ended December 31, 2025.
(c)	Item 5(c) is hereby amended as follows: 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, disposed of 254,140 shares of Common Stock through a series of market sales between March 4, 2026 and March 17, 2026 for an aggregate price of $1,256,045, net of brokerage commissions, as follows: On March 4, 2026, ALAC sold 6,823 shares of Common Stock at a weighted average price of $4.65 per share. Such shares of Common Stock were sold in multiple transactions at prices ranging from $4.62 to $4.70. On March 5, 2026, ALAC sold 4,290 shares of Common Stock at a weighted average price of $4.59 per share. Such shares of Common Stock were sold in multiple transactions at prices ranging from $4.53 to $4.64. On March 6, 2026, ALAC sold 9,224 shares of Common Stock at a weighted average price of $4.6395 per share. Such shares of Common Stock were sold in multiple transactions at prices ranging from $4.60 to $4.69. On March 9, 2026, ALAC sold 27,767 shares of Common Stock at a weighted average price of $4.5625 per share. Such shares of Common Stock were sold in multiple transactions at prices ranging from $4.5050 to $4.64. On March 10, 2026, ALAC sold 24,532 shares of Common Stock at a weighted average price of $4.6378 per share. Such shares of Common Stock were sold in multiple transactions at prices ranging from $4.545 to $4.75. On March 11, 2026, ALAC sold 4,235 shares of Common Stock at a weighted average price of $4.6494 per share. Such shares of Common Stock were sold in multiple transactions at prices ranging from $4.63 to $4.66. On March 12, 2026, ALAC sold 2,839 shares of Common Stock at a weighted average price of $4.6773 per share. Such shares of Common Stock were sold in multiple transactions at prices ranging from $4.66 to $4.725. On March 13, 2026, ALAC sold 60,000 shares of Common Stock at a weighted average price of $4.8485 per share. Such shares of Common Stock were sold in multiple transactions at prices ranging from $4.71 to $4.94. On March 16, 2026, ALAC sold 27,389 shares of Common Stock at a weighted average price of $4.9423 per share. Such shares of Common Stock were sold in multiple transactions at prices ranging from $4.81 to $5.11. On March 17, 2026, ALAC sold 87,041 shares of Common Stock at a weighted average price of $5.3093 per share. Such shares of Common Stock were sold in multiple transactions at prices ranging from $5.10 to $5.52. 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.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

International Finance Corporation ("IFC")

Signature:	To come
Name/Title:	Andi Dervishi / Head, Global Fintech Investments
Date:	03/17/2026

IFC African, Latin American and Caribbean Fund ("ALAC")

Signature:	To come
Name/Title:	Selena Baxa / Fund Head
Date:	03/17/2026

IFC African, Latin American and Caribbean Fund (GP) LLC

Signature:	To come
Name/Title:	Selena Baxa / Fund Head
Date:	03/17/2026

IFC Financial Institutions Growth Fund, LP ("FIG")

Signature:	To come
Name/Title:	Jun Nitta / Fund Head
Date:	03/17/2026

IFC FIG Fund (GP), LLP

Signature:	To come
Name/Title:	Jun Nitta / Fund Head
Date:	03/17/2026

Comments accompanying signature:

The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative (other than an executive officer or general partner of this filing person), evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature.