US EditionLesaka and Bank Zero Merge Ambitions in Landmark Transaction
- Shares in Lesaka Technologies rose over 7% after announcing its deal to acquire Bank Zero for R1.1 billion, aiming to challenge South Africa’s banking sector.
- Lesaka expects the acquisition to benefit its shareholders, with Bank Zero projected to be profitable in the next fiscal year.
- Ali Mazanderani, Lesaka's chairperson, stated that the acquisition enhances their service capabilities and aligns with their strategic goals.
- The deal involves shares and cash, giving Bank Zero shareholders about 12% ownership in Lesaka at completion.
13 Articles
13 Articles
South Africa’s Bank Zero, Lesaka to Combine in $61 Million Deal
South African digital lender Bank Zero Mutual Bank, founded by the former chief of one of the country’s top lenders, is combining with a unit of fintech firm Lesaka Technologies Inc. in a 1.91 billion-rand ($61 million) deal.
Finovate Global Africa: Investments, Acquisitions, And Partnerships - Data Intelligence
This week’s edition of Finovate Global looks at recent fintech headlines from Nigeria and South Africa. BAS Group acquired a majority stake in Nigeria’s Zuvy Nigeria-based diversified financial services group BAS Group announced this week that it has acquired a minority stake in Zuvy, a local fintech that specializes in invoice financing. The move gives BAS Group more than 50% of the company, a stake that analysts estimate could be valued betwee…
Finovate Global Africa: Investments, Acquisitions, and Partnerships
This week’s edition of Finovate Global looks at recent fintech headlines from Nigeria and South Africa. BAS Group acquired a majority stake in Nigeria’s Zuvy Nigeria-based diversified financial services group BAS Group announced this week that it has acquired a minority stake in Zuvy, a local fintech that specializes in invoice financing. The move gives BAS Group more than 50% of the company, a stake that analysts estimate could be valued betwee…
Coverage Details
Bias Distribution
- 50% of the sources lean Right
To view factuality data please Upgrade to Premium
