Lesaka Technologies, Inc. (Nasdaq: LSAK; JSE: LSK),the South African fintech company behind Kazang, Cash Connect, Adumo and GAAP, is bringing all four businesses together under one brand name: Lesaka.
For Kazang merchants, this means the company that has helped spaza shop owners and informal traders grow their businesses will now operate under the Lesaka brand. These companies, together, provide everything you need to trade, get paid, manage cash and grow.
Kazang supports over 100,000 micro merchants processing around 3 million transactions daily. This community of merchants uses Kazang terminals to sell services such as prepaid electricity, prepaid airtime and data, DSTV subscriptions and bill payments. More than 60,000 of these merchants are enabled to accept card payments.
If you are one of these merchants, you will not need to do anything when Kazang switches to the Lesaka brand. Your terminals and apps will work in the same way as they did before. You will use the same services as you did previously, including prepaid voucher sales, accepting card payments, applying for cash advances and paying suppliers. The team supporting you remains the same.
“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. “Whether you run a spaza shop, a tuck shop or another small business, our goal is to stand alongside you with the human-first products and support you need to grow. Our One Lesaka brand signals our commitment to this mission.”
The new branding will not change anything for Kazang clients right now, but forms part of plans by Lesaka to offer informal merchants a simpler experience and wider set of services in the future. Lesaka will bring everything together under one roof, making it easier to access the tools you need to run your business.
“South Africa’s small and informal businesses are the backbone of our communities, helping people buy essentials, pay bills and access important services close to home,” Khaole says. “By bringing Kazang, Cash Connect, Adumo and GAAP together under Lesaka, we can connect the strengths of each business to offer our merchants more services through one trusted partner.”
About Lesaka Technologies, Inc. (www.lesaka.tech)
Lesaka operates a South African fintech company driven by a purpose to provide financial services, software and other business services to Southern Africa’s underserviced consumers and merchants. We offer an integrated and holistic multiproduct platform that provides transactional accounts, lending, insurance, merchant acquiring, cash management, software and Alternative Digital Products (“ADP”). We provide targeted solutions and integrations to facilitate payments between consumers, merchants, and enterprises. By providing a full-service fintech platform in our connected ecosystem, we facilitate the digitization of commerce in our markets.
Lesaka has a primary listing on NASDAQ (NASDAQ:LSAK) and a secondary listing on the Johannesburg Stock Exchange (JSE: LSK). Visit www.lesaka.tech for additional information about Lesaka.
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