Lesaka Technologies’ financial performance in the first half of the 2026 financial year is the focus in this edition of the Business Day Spotlight.
Host Mudiwa Gavaza is joined by Lesaka CEO Lincoln Mali.
Lesaka, worth about R6.1bn on the JSE, has reported its first net income in four years since moving away from the old Net1 UEPS paradigm.
Mali is positive that this momentum will continue for the full year.
He details the performance of the group’s three main businesses: merchant; consumer; and enterprise.
The group reported that net revenue for the second quarter rose 16% to $93.4m, while adjusted earnings before interest, tax, depreciation and amortisation (ebitda) was 47% higher at $17.78m.
Mali also speaks about the pressure on merchant business, investment in cryptocurrency, opportunities in remittances and progress in acquiring Bank Zero.
Lesaka is part of a group of South Africa’s prominent financial institutions, including Luno, Sanlam and Easy Equities, that have come together to create a rand-backed stablecoin, ZARU.
While Lesaka reports financial results in dollars, it measures operating performance in rand. For the third quarter it expects to report net revenue of between R1.65bn and R1.8bn and adjusted ebitda of between R300m and R340m.
Join the discussion:
Producer: Demi Buzo
Business Day Spotlight is an Arena Podcasts Production.
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