Group 1 - Lesaka Technologies, Inc. completed the acquisition of Recharger (Pty) Ltd for ZAR 507 million (18 million) in cash and ZAR 175 million ($9 million) in shares [1][2] - The acquisition is expected to enhance Lesaka's strategy in its Enterprise Division and provide an entry point into the South African private utilities market, while also augmenting its alternative payment offerings [3] - Recharger operates a prepaid electricity submetering and payments business with over 460,000 registered prepaid electricity meters, allowing landlords to collect payments in advance and giving tenants control over their utility usage [4] Group 2 - Lesaka Technologies aims to improve financial inclusion in Southern Africa through its integrated fintech platform, which offers various financial services including transactional accounts, lending, insurance, and alternative digital payments [5] - The company has a primary listing on NASDAQ and a secondary listing on the Johannesburg Stock Exchange [6]
Lesaka completes the acquisition of Recharger