JSE-listed fintech group Lesaka Technologies, Inc. (Nasdaq: LSAK; JSE: LSK) is consolidating its merchant-focused businesses under the name of Lesaka. The new brand signals how Lesaka has brought together leading fintech companies into a single platform that mirrors how merchants run their businesses.
The move follows Lesaka acquiring the Connect Group in 2021 and Adumo in 2024 to broaden its value proposition and offer a comprehensive set of solutions that address pain points for businesses in South Africa. Lesaka brings the following brands together under a single banner:
- Cash Connect focuses on automated cash management. This entity provides automated cash vaults built to SABS Category 4 vault standards to leading South African retailers.
- Capital Connect provides unsecured, hassle-free working capital of up to R5 million to retail businesses.
- Kazang is a fintech that focuses on prepaid value-added services (VAS) and payments solutions for informal merchants.
- Adumo is South Africa’s largest independent payments processor and brings integrated card acquiring and loyalty technology.
- GAAP is the largest point of sale and software-as-a-service solutions provider to the hospitality sector in Southern Africa.
The new brand consolidates payments, cash management and point-of-sale software solutions that were previously delivered under different names. The rebranding will deliver continuity for merchants, who will have the same access the products and services they currently use across the group companies.
Businesses currently using any of the services now provided under Lesaka do not need to take any action. Existing terminals, software and cash management infrastructure will continue operating as before, and current account and support contacts remain unchanged.
“We want to make it easier for merchants to do business, which means we need to be wherever they are,” says Kagiso Khaole, CEO of Lesaka Merchant Division. “Our goal is to stand alongside businesses with the human-first products and support they need to grow.The One Lesaka brand signals our commitment to this mission.”
The consolidation underpins plans from Lesaka to offer merchants a simpler customer experience and a wider set of services. Lesaka brings everything a merchant needs to run its business together under one roof, including acquiring, cash management, lending and retail software.
The move is the next step in a longer-term strategy to integrate the platforms of the merchants businesses Lesaka has acquired over the years. The more integrated the platform becomes, the more accessible and affordable Lesaka services will be for businesses of all sizes, from a single-store operator to a multi-site retail or restaurant group.
