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Lesaka completes the acquisition of Recharger
Lesaka Technologies, Inc.
Registered in the state of Florida, USA
(IRS Employer Identification No. 98-0171860)
Nasdaq share code: LSAK
JSE share code: LSK
LEI: 529900J4IZMWV4RDEB07
ISIN: US64107N2062
("Lesaka," or the "Company")
Lesaka completes the acquisition of Recharger
JOHANNESBURG, March 6, 2025 – Lesaka (Nasdaq: LSAK; JSE: LSK) today announced the completion of
the acquisition of Recharger (Pty) Ltd ("Recharger") on March 3, 2025. The purchase consideration of ZAR 507
million ($27 million) comprises ZAR 332 million ($18 million) in cash and ZAR 175 million ($9 million) in
shares of Lesaka common stock, to be settled in two tranches. Lesaka extended a ZAR 43 million ($2 million)
loan to Recharger at closing which was exclusively used to repay an existing loan due by Recharger to the seller.
The first tranche, comprising ZAR 153 million ($8 million) in cash and 1,092,361 shares of Lesaka's common
stock with a value of ZAR 98 million ($5 million), was settled at closing.
The second and final tranche will comprise a cash payment of ZAR 175 million ($9 million) and shares of
Lesaka's common stock with a value of ZAR 75 million ($4 million) and is due on March 3, 2026.
This acquisition demonstrates positive advancement of Lesaka's strategy in its Enterprise Division. The Company
expects the acquisition to act as an entry point for it into the South African private utilities space while augmenting
the Enterprise division's alternative payment offering.
All amounts in this release have been translated to U.S. dollars at the March 3, 2025, closing exchange rate of $1:
ZAR 18.63.
About Recharger (www.recharger.co.za)
Recharger is a South African prepaid electricity submetering and payments business with a base of over 460,000
registered prepaid electricity meters.
Recharger enables landlords to collect payment for utilities usage from tenants in advance, eliminating the need
to manage billing and collections. This model further provides tenants with the ability to manage their utility
usage and payments directly, providing them with greater control over cost.
About Lesaka (www.lesakatech.com)
Lesaka Technologies, (Lesaka™) is a South African Fintech company driven by a purpose to provide financial
services and software to Southern Africa's underserviced consumers and merchants (including small-and-medium
businesses and micro-merchants), improving people's lives and increasing financial inclusion in the markets in
which we operate. We offer an integrated multiproduct platform that provides transactional accounts (banking),
lending, insurance, payouts, card acquiring, cash management, software and Alternative Digital Payments
("ADP"). ADP includes our pre-paid solutions and supplier enabled payments (previously referred to as our value-
added services). By providing a full-service fintech platform in our connected ecosystem, we facilitate the
digitization of commerce in our markets.
Lesaka has a primary listing on NASDAQ (NasdaqGS: LSAK) and a secondary listing on the Johannesburg Stock
Exchange (JSE: LSK). Visit www.lesakatech.com for additional information about Lesaka Technologies
(Lesaka™).
Forward-Looking Statements
This press release contains certain statements that may be considered forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the
Private Securities Litigation Reform Act of 1995, as amended. Such statements may be identified by their use of
terms or phrases such as "expects," "estimates," "projects," "believes," "anticipates," "plans," "could," "would,"
"may," "will," "intends," "outlook," "focus," "seek," "potential," "mission," "continue," "goal," "target,"
"objective," derivations thereof, and similar terms and phrases. Forward-looking statements are based upon the
current beliefs and expectations of our management and are inherently subject to risks and uncertainties, some of
which cannot be predicted or quantified, which could cause future events and actual results to differ materially
from those set forth in, contemplated by, or underlying the forward-looking statements. In this press release,
statements relating to future financial results and future financing and business opportunities are forward-looking
statements. Additional information concerning factors that could cause actual events or results to differ materially
from those in any forward-looking statement is contained in our Form 10-K for the fiscal year ended June 30,
2024, as filed with the SEC, as well as other documents we have filed or will file with the SEC. We assume no
obligation to update the information in this press release, to revise any forward-looking statements or to update
the reasons actual results could differ materially from those anticipated in forward-looking statements.
Investor Relations Contact:
Phillipe Welthagen
Email: phillipe.welthagen@lesakatech.com
Mobile: +27 84 512 5393
Johannesburg
March 6, 2025
Sponsor:
Rand Merchant Bank, a division of FirstRand Bank Limited
Date: 06-03-2025 07:05:00
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