Lesaka Technologies Completes R507 Million Acquisition

South African fintech company, Lesaka Technologies (Lesaka) has completed the acquisition of Recharger. The purchase was completed for R507 million and comprises R332 million in cash and R175 million in shares of Lesaka common stock, to be settled in two tranches.

In a statement, Lesaka says the first tranche comprises R153 million in cash, and 1,092,361 shares of Lesaka’s common stock with a value of ZAR 98 million. The second tranche, which will be completed on the 3^rd of March 2026, comprises a cash payment of R175 million and shares of Lesaka’s common stock with a value of R75 million.

The company also extended a R43 million loan to Recharger which was used to pay off an existing loan.

“The acquisition demonstrates the positive advancement of Lesaka’s strategy in its Enterprise Division. The Company expects the acquisition to act as an entry point for it into the South African private utilities space while augmenting the Enterprise division’s alternative payment offering,” says Lesaka.

Its new acquisition Recharger is a South African prepaid electricity submetering and payments company. With over 460 000 registered prepaid electricity meters, the company enables landlords to collect payment for utilities and the ability to manage their utility usage and payments directly.

Lesaka is a fintech company which provides financial software and services to small to medium enterprises (SMEs) and micro-merchants. The company offers transactional accounts, lending solutions, insurance solutions, payouts, card acquiring, cash management, software and alternative digital payments.

The company also owns GAAP, which is a provider of integrated point-of-sales software and hardware. Some of its notable customers include KFC, McDonald’s, Pizza Hut, Nando’s and Krispy Kreme.

“By providing a full-service fintech platform in our connected ecosystem, we facilitate the digitisation of commerce in our markets,” concluded the company.