Lesaka Technologies Strengthens Leadership for Future Growth
Lesaka Technologies Enhances Executive Leadership Team
Lesaka Technologies, Inc. (NASDAQ: LSAK; JSE: LSK) has announced pivotal changes to its executive leadership team as part of its strategy to achieve ambitious growth targets. Positioned as a natural consolidator and prominent fintech in Southern Africa, these changes are a crucial step towards enhancing operational synergies and overall performance.
Key Executive Changes
Naeem Kola will transition from his role as Group Chief Financial Officer to become the Group Chief Operating Officer. With extensive experience in international fintech, Naeem is well-suited to lead strategic operations and support Lesaka’s ongoing transformation.
New Chief Financial Officer Appointed
Dan Smith has been appointed as the new Group Chief Financial Officer and will also join the Company’s Board. Dan has over 25 years of corporate finance experience, having previously worked with both PricewaterhouseCoopers and Standard Bank South Africa. His deep connection with Lesaka, as an Investment Director at its largest shareholder Value Capital Partners, strengthens his insights into the company’s operations.
Board Changes for Enhanced Governance
In addition to shifting roles within the executive team, the Board will also see significant changes. Notable transitions include the resignation of independent non-executive director Javed Hamid, alongside non-executive director Chris Meyer, both set to leave at the end of September and October 2024 respectively.
Welcoming New Board Members
Dean Sparrow, currently Group CEO of Crossfin Technology Holdings, will join the Board as an independent non-executive director once the Adumo acquisition is completed. His extensive background in fintech will be invaluable as Lesaka continues to scale and strengthen its market position.
Remarks from Leadership
Ali Mazanderani, the Executive Chairman of Lesaka, expressed enthusiasm about the new leadership dynamics. He stated, “I am delighted to welcome Dan to the team. As we scale, bolstering our executive capabilities is crucial to capitalize on the opportunities ahead.” He also acknowledged the contributions of departing Board members, emphasizing the importance of their roles during a transformative period.
About Lesaka Technologies
Lesaka Technologies is a dynamic South African fintech company dedicated to providing essential financial services and software solutions to underserved consumers and merchants. The Company's offerings include banking, lending, insurance, and payment solutions designed to improve financial inclusion across the region. With a primary listing on NASDAQ and a secondary listing on the Johannesburg Stock Exchange, Lesaka is committed to facilitating digital commerce within its markets.
Investor Relations and Media Contact
For further inquiries regarding investor or media relations, please reach out to:
Phillipe Welthagen
Email: phillipe.welthagen@lesakatech.com
Mobile: +27 84 512 5393
Media relations contact:
Ian Harrison
Email: ian@thenielsennetwork.com
For additional investor information, reach out to Rob Fink / Matt Chesler, CFA at lsak@fnkir.com.
Frequently Asked Questions
What inspired the leadership changes at Lesaka Technologies?
The changes in leadership are designed to align with the Company’s aggressive growth goals and enhance operational synergies.
Who are the significant new appointments within the executive team?
Naeem Kola has been appointed Group Chief Operating Officer, while Dan Smith will take on the role of Group Chief Financial Officer.
What transitions are taking place on the Board of Directors?
Several Directors, including Javed Hamid and Chris Meyer, will resign, while Dean Sparrow will join the Board as an independent non-executive director when the Adumo acquisition is finalized.
How does Lesaka plan to support its growth strategy?
Through the enhanced leadership structure, Lesaka aims to streamline operations and capitalize on strategic opportunities in the fintech market.
What does Lesaka offer to its clients and customers?
Lesaka provides a range of financial services, including transaction accounts, lending, insurance, and payment solutions, aimed at improving financial accessibility.
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