Lesaka Technologies Announces Leadership Changes as it Strengthens Executive Management Team
Lesaka Technologies, Inc. (LSAK) announced significant leadership changes to align with its growth targets and position as a leading fintech in Southern Africa. Key executive appointments include:
1. Naeem Kola, current Group CFO, will become Group COO from October 1, 2024.
2. Dan Smith will be appointed as Group CFO and join the Board.
Board changes include the resignations of Javed Hamid, Chris Meyer, and Monde Nkosi. Dean Sparrow, Group CEO of Crossfin Technology Holdings, will join as an independent non-executive director upon completion of the Adumo acquisition.
These changes aim to strengthen Lesaka's executive capability and drive strategic and operational synergies as the company scales and pursues its ambition to become Southern Africa's leading fintech platform.
Lesaka Technologies, Inc. (LSAK) ha annunciato significativi cambiamenti nella leadership per allinearsi ai propri obiettivi di crescita e per posizionarsi come leader nel fintech in Africa meridionale. Le principali nomine esecutive includono:
1. Naeem Kola, attuale CFO di gruppo, diventerà COO di gruppo a partire dal 1 ottobre 2024.
2. Dan Smith sarà nominato CFO di gruppo e si unirà al Consiglio.
I cambiamenti nel Consiglio includono le dimissioni di Javed Hamid, Chris Meyer e Monde Nkosi. Dean Sparrow, CEO di gruppo di Crossfin Technology Holdings, entrerà come amministratore indipendente non esecutivo al completamento dell'acquisizione di Adumo.
Questi cambiamenti mirano a rafforzare le capacità esecutive di Lesaka e a guidare sinergie strategiche e operative mentre l'azienda cresce e persegue l'ambizione di diventare la piattaforma fintech leader in Africa meridionale.
Lesaka Technologies, Inc. (LSAK) anunció cambios significativos en la dirección para alinearse con sus objetivos de crecimiento y establecerse como un líder en el fintech en el sur de África. Las principales nombramientos ejecutivos incluyen:
1. Naeem Kola, actual CFO del grupo, se convertirá en COO del grupo a partir del 1 de octubre de 2024.
2. Dan Smith será nombrado CFO del grupo y se unirá a la Junta.
Los cambios en la Junta incluyen las renuncias de Javed Hamid, Chris Meyer y Monde Nkosi. Dean Sparrow, CEO del grupo de Crossfin Technology Holdings, se unirá como director independiente no ejecutivo tras la finalización de la adquisición de Adumo.
Estos cambios tienen como objetivo fortalecer la capacidad ejecutiva de Lesaka y generar sinergias estratégicas y operativas a medida que la empresa crece y persigue su ambición de convertirse en la plataforma fintech líder en el sur de África.
Lesaka Technologies, Inc. (LSAK)는 성장 목표에 부합하고 남아프리카 지역의 선도적인 핀테크로 자리매김하기 위해 중대한 리더십 변화를 발표했습니다. 주요 임원 임명 사항은 다음과 같습니다:
1. Naeem Kola, 현재 그룹 CFO는 2024년 10월 1일부터 그룹 COO로 임명됩니다.
2. Dan Smith가 그룹 CFO로 임명되며 이사회에 합류할 예정입니다.
이사회 변화에는 Javed Hamid, Chris Meyer 및 Monde Nkosi의 사임이 포함됩니다. Dean Sparrow, Crossfin Technology Holdings의 그룹 CEO는 Adumo 인수 완료 후 독립 비상임 이사로 합류할 것입니다.
이러한 변화는 Lesaka의 경영 능력을 강화하고 회사가 성장하고 남아프리카에서 선도적인 핀테크 플랫폼이 되기 위한 야망을 추구함에 따라 전략적이고 운영적인 시너지를 이끌어내는 것을 목표로 하고 있습니다.
Lesaka Technologies, Inc. (LSAK) a annoncé des changements significatifs dans son leadership afin de s'aligner sur ses objectifs de croissance et de se positionner comme un leader dans le secteur fintech en Afrique australe. Les principales nominations exécutives comprennent :
1. Naeem Kola, actuel CFO du groupe, deviendra COO du groupe à partir du 1er octobre 2024.
2. Dan Smith sera nommé CFO du groupe et rejoindra le Conseil.
Les changements au sein du Conseil incluent les démissions de Javed Hamid, Chris Meyer et Monde Nkosi. Dean Sparrow, CEO du groupe de Crossfin Technology Holdings, rejoindra en tant qu'administrateur indépendant non exécutif à l'issue de l'acquisition d'Adumo.
Ces changements visent à renforcer la capacité exécutive de Lesaka et à favoriser les synergies stratégiques et opérationnelles alors que l'entreprise se développe et poursuit son ambition de devenir la plateforme fintech leader en Afrique australe.
Lesaka Technologies, Inc. (LSAK) gab bedeutende Veränderungen in der Unternehmensführung bekannt, um sich an den Wachstumszielen auszurichten und sich als führendes Fintech in Südafrika zu positionieren. Zu den wichtigsten Ernennungen gehören:
1. Naeem Kola, derzeit Group CFO, wird ab dem 1. Oktober 2024 Group COO.
2. Dan Smith wird als Group CFO ernannt und dem Vorstand beitreten.
Zu den Änderungen im Vorstand gehören die Rücktritte von Javed Hamid, Chris Meyer und Monde Nkosi. Dean Sparrow, Group CEO von Crossfin Technology Holdings, wird nach Abschluss der Adumo-Akquisition als unabhängiger, nicht geschäftsführender Direktor eintreten.
Diese Veränderungen zielen darauf ab, die Exekutivkompetenz von Lesaka zu stärken und strategische sowie betriebliche Synergien zu fördern, während das Unternehmen wächst und das Bestreben verfolgt, die führende Fintech-Plattform in Südafrika zu werden.
- Appointment of experienced executives Naeem Kola as COO and Dan Smith as CFO
- Addition of Dean Sparrow to the Board, bringing valuable fintech experience
- Strategic alignment of leadership team with company's growth targets
- Positioning as a natural consolidator in Southern African fintech sector
- Departure of three board members, including former Group CEO
JOHANNESBURG, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Lesaka Technologies, Inc. (“Lesaka” or the “Company”) (NasdaqGS:LSAK; JSE: LSK) today announced changes to augment its executive leadership team to align with the Company’s ambitious growth targets. These changes represent a significant step forward as Lesaka positions itself as a natural consolidator and leading fintech in Southern Africa.
Executive Changes:
- Naeem Kola, currently Group Chief Financial Officer, will be appointed as Group Chief Operating Officer. Naeem is exceptionally well placed to drive strategic and operational synergies for the group with his extensive financial and operational experience in international fintech, and his understanding of Lesaka’s transformation through his role as Group Chief Financial Officer of Lesaka since March 2022.
- Dan Smith will be appointed as Group Chief Financial Officer. Dan will also join the Company’s Board. Dan is a Chartered Accountant (South Africa), having qualified with PricewaterhouseCoopers South Africa, before moving into various roles in the financial services sectors in South Africa and the United Kingdom. He is currently an Investment Director at Value Capital Partners (Pty) Ltd, Lesaka’s largest shareholder, and has played an active role in the development of Lesaka since 2021. Dan has over 25 years of corporate finance experience, including heading the Mergers & Acquisitions investment banking team at Standard Bank South Africa.
Naeem Kola and Dan Smith will both report directly to Lesaka’s Executive Chairman, Ali Mazanderani, taking up their new roles from October 1, 2024.
Board Changes:
In addition to the changes to the executive leadership, the following Board changes have been accepted:
- As announced on June 13, 2024, independent non-executive director Javed Hamid will resign from the Board as of September 30, 2024.
- Chris Meyer, non-executive director and former Group CEO, will resign from the Board as of October 1, 2024.
- Monde Nkosi, non-executive director, will resign from the Board on completion of the Adumo transaction, which, subject to certain customary closing conditions, is anticipated to occur in October 2024.
- Dean Sparrow, Group CEO of Crossfin Technology Holdings (RF) (Pty) Ltd, will be appointed to the Board as an independent non-executive director on completion of the Adumo acquisition. Dean will also join Lesaka’s Capital Allocation Committee.
Ali Mazanderani, Lesaka Executive Chairman, said: “I am delighted to welcome Dan to the Lesaka leadership team. As Lesaka scales, we will continue to augment our executive capability to deliver on the opportunity in front of us. Dan is an exceptional addition to the team and has been intimately involved in the transformation of the business over the last few years. I am excited to be working with both him and Naeem in their new roles.”
“I would like to thank Javed, Chris and Monde for the roles they have played over the past few years during a period of significant change. I also welcome Dean to the Board. His insights and experience, as a successful entrepreneur and investor with deep fintech experience in Southern Africa, will be invaluable as we continue to build Southern Africa’s leading fintech platform.”
Forward-Looking Statements
This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be identified by their use of terms or phrases such as “expects,” “estimates,” “projects,” “believes,” “anticipates,” “plans,” “could,” “would,” “may,” “will,” “intends,” “outlook,” “focus,” “seek,” “potential,” “mission,” “continue,” “goal,” “target,” “objective,” derivations thereof, and similar terms and phrases. Forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. In this press release, statements relating to future board composition and future business opportunities are forward-looking statements. Additional information concerning factors that could cause actual events or results to differ materially from those in any forward-looking statement is contained in our Form 10-K for the fiscal year ended June 30, 2023, as filed with the SEC, as well as other documents we have filed or will file with the SEC. We assume no obligation to update the information in this press release, to revise any forward-looking statements or to update the reasons actual results could differ materially from those anticipated in forward-looking statements.
About Lesaka (www.lesakatech.com)
Lesaka Technologies, (Lesaka™) is a South African Fintech company driven by a deep purpose to provide financial services and software to Africa’s underserviced consumers (B2C) and merchants (B2B), improving people’s lives and increasing financial inclusion in the markets in which we operate. We offer a wide range of solutions including transaction accounts (banking), lending, insurance, cash management solutions, card acceptance, supplier payments, software services and bill payments. 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 (NasdaqGS: LSAK) and a secondary listing on the Johannesburg Stock Exchange (JSE: LSK). Visit www.lesakatech.com for additional information about Lesaka Technologies (Lesaka ™).
Investor Relations and Media Relations Contacts:
Phillipe Welthagen
Email: phillipe.welthagen@lesakatech.com
Mobile: +27 84 512 5393
Media relations:
Ian Harrison
Email: ian@thenielsennetwork.com
FNK IR:
Rob Fink / Matt Chesler, CFA
Email: lsak@fnkir.com
FAQ
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