Posting a full-year revenue increase of 11%, Lesaka says it will integrate the Adumo and Touchsides acquisitions with its fintech solutions.
Fintech group Lesaka Technologies has reported a revenue increase of 11%, to R10.6 billion, in its financial results for the year ended 30 June .of payments services provider Adumo in a R1.59 billion deal.
According to the company, the balance sheet also strengthened considerably, with the net debt to group adjusted EBITDA ratio improving to 2.5 times, from 4.5 times a year ago. Lesaka Southern Africa CEO Lincoln Mali adds: “I am particularly pleased with the consumer division’s performance. Our teams have worked hard to turn it into an important profit and cash flow contributor for the group, demonstrated by the four-fold increase in segment adjusted EBITDA to R274 million.
It says the consumer pillar will remain substantially the same; however, the perimeter will be expanded to include the Adumo Payouts business. With the incorporation of Adumo, Lesaka says it will serve approximately 1.7 million consumers. It adds the merchant pillar will comprise the existing connect operations, as well as the bulk of Adumo, specifically its merchant acquiring and processing business and its GAAP hospitality platform.
Adumo Fintech Lincoln Mali Ali Mazanderani Payments Touchsides Dan Smith Naeem Kola
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lesaka Technologies given green light to buy AdumoLesaka’s R1.6-billion buyout of payments platform Adumo has been given the green light by regulators.
Read more »
Big management changes at Lesaka TechnologiesJSE-listed and Nasdaq-listed Lesaka Technologies has announced big changes at executive and board level.
Read more »
Kaizer Chiefs complete R10 million transfer deal!Kaizer Chiefs have completed a big money signing that they hope will help boost the club's chances of competing this season!
Read more »
R10 million star could debut for Bafana Bafana before Kaizer ChiefsKaizer Chiefs' brand new star could make his Bafana Bafana debut before he turns out in competitive action for Amakhosi.
Read more »
PSL rumours: R10 million is a bargain for Kaizer Chiefs, two players heading to Europe?Kaizer Chiefs have landed a R10 million bargain. They are also considering a new foreign central defender and the sales of two key stars.
Read more »
'A Cocomelon Rhino': Weird And Cartoonish R10 Notes Have SA in StitchesSouth Africans were left in fits of laughter after a video of a strange R10 note surfaced online. The note looked real on one side but comical on the other.
Read more »