Lesaka Technologies’ loss starts to improve significantly despite a year of big acquisitions

LESAKA Technologies’ net loss improved 386% to $87.5 million (R1.6 billion) in its 2025 financial year, a transformative 12 months with big acquisitions to build out its fintech merchant and payments solutions platform.

- EDWARD WEST

The big reduction in the Nasdaq and JSE-listed company's loss was largely due to the inclusion of a tax adjusted $49.3m non-operating, non-cash charge from a change in fair value and sale of non-core asset MobiKwik, impairment losses of $18.4m, and once-off transaction costs of $17.8m.

During the year, the group acquired payments solutions provider Adumo for R1.74bn, the submetering and payments solutions company Recharge for R507m, while in June, it announced the R1.1bn acquisition of online bank, Bank Zero. The group has also exited MobiKwik for R290m.

Chairman Ali Mazanderani said in an online presentation that 2025 was a strong year for them, and the group delivered on its guidance and advanced key priorities. The group had met its earnings guidance for 12 consecutive quarters.

Net revenue for the group that provides financial services, software, and other business services to Southern Africa's underserviced consumers and merchants, increased 38% to $328.7m (R5.3bn).