Business

Net1 to alter title to Lesaka Technologies


Dual-listed fintech group Net1 is ready to alter its title to Lesaka Technologies after garnering majority shareholder help final week.

In a press release, Net1, which is listed on the Johannesburg Stock Exchange and Nasdaq, says the change was authorized by shareholders, with 46 593 141 voting in favour of the modification, whereas 562 344 had been towards and a pair of 711 abstained.

Net1 presents banking, lending and insurance coverage merchandise to customers, and money administration options, invoice fee expertise, value-added companies, enterprise funding and card buying.

The firm was not too long ago granted regulatory approval to take management of certainly one of SA’s greatest fintech companies, Connect Group, in a R3.7 billion deal.

The deal acquired the backing of anti-trust authorities in SA, Botswana and Namibia, which consented to its acquisition of 100% of the shares and claims within the Connect Group.

The transaction was first introduced in November final 12 months, when Net1 signed a definitive settlement to accumulate 100% of the Connect Group.

In the discover to shareholders on the time, it mentioned the acquisition of a “profitable, high-growth and leading South African fintech firm is transformational for Net1 in its journey to becoming South Africa’s leading fintech platform”.

Connect Group, which was based in 2006, is without doubt one of the main suppliers of fintech options within the nation and companies almost 44 000 micro, small and medium enterprises in Southern Africa.



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