JSE-listed Lesaka Technologies has credited the inclusion of Connect Group’s financials to the company’s success in fiscal 2022. JSE_Group Lesaka ConnectGroup
Lifted by the addition of the Connect Group, fintech firm Lesaka Technologies today reported a surge in group revenue for fiscal year 2022, while losses narrowed slightly.Net1, today released results for the fourth fiscal quarter and year ended June, saying the inclusion of Connect from 14 April added $86.2 million to the group’s revenue and 23% growth in revenue in the existing merchant business.of one of SA’s biggest fintech firms, Connect Group, in November for R3.7 billion.
Today, Lesaka notified shareholders of the value accrued from the deal, saying on a constant currency basis, the existing merchant business grew revenue 35% in the fourth quarter 2022 to R304 million. “On a constant currency basis, the existing merchant business grew revenue 35% in Q4 22 to R304 million. Group revenue drivers in the quarter included an increase in hardware sales, an increase in merchant transaction processing fees, and a moderate increase in lending and insurance revenues.”
Chris Meyer, Lesaka Group CEO, says the company is delighted with the group’s achievements over the past year.
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