Nasdaq- and JSE-listed Lesaka, which operates the EasyPay payment service, says it's extremely pleased about a turnaround that has positioned it as a leading fintech provider in SA's informal market and given it new life after the loss of a lucrative social grant contract.
Despite a close to quadrupling of finance costs in its 2023 year and an acquisition a year ago that is close to rivaling its R4.5 billion market value, it says it's still actively considering further acquisitions, and that it may see close to 50% core profit growth in 2024. The group, formerly Net1, reported a 185% surge in revenue to R9.4 billion in its year to end June on Wednesday, helped by a hefty acquisition, but also a turnaround in its consumer business, which offers financial services mostly to grant beneficiaries.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
Source: News Formal (newsformal.com)
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