A zero-fee digital bank co-founded by former First National Bank executives, offering a fully app-based banking experience.
South Africa’s Lesaka hits first profit since 2022 despite merchant slowdown
Lesaka Technologies reported a net profit of R61 million in Q2 2026, a significant improvement from a loss of R589 million a year earlier. Revenue from Lesaka's merchant unit fell by 13% year-on-year to R2.26 billion, despite an 8% growth in the merchant base.
South African Fintech Lesaka Acquires Bank Zero for $61.4M
Lesaka Technologies agrees to acquire Bank Zero for ZAR 1.091 billion ($61.4 million). The acquisition will be funded through ~12% of Lesaka's fully diluted shares and up to ZAR 91 million ($5.1 million) in cash.
South African Fintech Lesaka Acquires Bank Zero for $61.4M
Lesaka Technologies agrees to acquire Bank Zero for ZAR 1.091 billion ($61.4 million). The acquisition will be funded through ~12% of Lesaka's fully diluted shares and up to ZAR 91 million ($5.1 million) in cash.
South Africa’s Bank Zero shareholders to pocket $5m and 12% stake in Lesaka acquisition
Bank Zero shareholders will receive a 12% stake in Lesaka Technologies worth R1 billion. Lesaka Technologies is set to fully acquire Bank Zero in a deal valued at R1.1 billion.
TymeBank gets $9.5M investment amid 59% deposit growth and improved merchant credit
TymeBank secured R169 million investment from African Rainbow Capital. Deposits grew by 59% to R6.5 billion.
