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Lesaka continues strong growth trajectory and achieves upper end of revenue guidance

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GUEST - Lincoln Mali CEO Lesaka Southern Africa

Technology and financial services group Lesaka Technologies narrowed its net loss by 42% in three months ended September, boosted in part by its fintech business while cost-cutting initiatives in the consumer segment also paid off.

Lesaka, which has a primary listing on Nasdaq and secondary listing on the JSE, provides informal retail merchants with a point-of-sale device with which they can pay their suppliers and sell many products, including airtime and electricity. More than 72,000 informal retail merchants use its cash management solutions, bill payment technologies, value-added services, business funding and card acquiring solutions. It also provides unsecured credit, transactional banking and microinsurance to customers through its EasyPay Everywhere brand.

Group revenue rose 19% to R2.5bn year on year, driven by an increase in low-margin prepaid airtime sales and other value-added services, as well as higher transaction, insurance and lending revenues
8 Nov 2023 3PM English South Africa Business News · Investing

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