Lesaka Technologies, Inc. · NASDAQ:LSAK
Lesaka Technologies — Investor Presentation (September 2024)
71 slides from Lesaka Technologies's investor presentation, September 2024
Slide 1: Unlock The Stock
1 Unlock The Stock September 2024
Slide 2: Safe harbor statement
2 Safe harbor statement The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements so long as such information is identified as forward- looking and is accompanied by meaningful cautionary statements identifying important factors that could c
Slide 3: Overview
overview Peeecccoe 0 { 0000, sw a | NN ay
Slide 4: Serving the underserved
4 Serving the underserved “If we stop thinking of the poor as victims or as a burden and start recognising them as resilient and creative entrepreneurs and value conscious consumers, a whole new world of opportunity will open up.” - CK Prahalad
Slide 5: Fulfilling potential to deliver growth
5 Fulfilling potential to deliver growth Driven by a deep purpose to provide financial services and software to Africa’s underserviced merchants (B2B) and consumers (B2C) By providing a full-service fintech platform in our connected ecosystem, we facilitate the digitization of commerce Enabling merc
Slide 6: Bolstered by strong operational growth both organically and inorganically
6 Bolstered by strong operational growth both organically and inorganically Active consumers (B2C) 0.2m 1.3m 1.5m 1.5m On 23rd May 2024, we announced FY23 Q4 FY24 Q4 FY24 Q4 - w/Adumo the acquisition of Adumo which is subject Active merchants (B2B) to shareholder and regulatory approval 23 k Adumo i
Slide 7: Going forward Lesaka will be run in distinct pillars
7 Going forward Lesaka will be run in 4 distinct pillars 30 June 2024 CONSUMER B2C | CONSUMER DIVISION¹ ✓ Accounts 1.7 million ✓ Lending ✓ Insurance customers ✓ Payouts MERCHANT B2B | MERCHANT DIVISION¹ 120 200+ Merchants¹ ZAR 270+ billion in throughput annually¹ Micro-Merchant¹ Merchant¹ Enterprise
Slide 8: The profile of the top merchant acquirers have shifted significantly
8 The profile of the top 50 merchant acquirers have shifted significantly 3% • Over the last 10 years, there has been a seismic shift in the profile of the merchant acquirer 2011 2021 • Traditional banking institutions have 52% lost significant share in the market, Global top 50 Global top 50 48% pr
Slide 9: Landscape shift between top banks and fintechs: Brazil
9 Landscape shift between the top bank’s and fintech’s over the last 10 years Market cap in local currency billions (bn) BRAZIL 2014 2024 BRL 542bn BRL 390bn 39% fintech market share BRL 344bn Traditional banks Large fintechs Traditional banks Large fintechs Notes: All market cap data to 22nd May 20
Slide 10: Landscape shift between top banks and fintechs: Egypt
10 Landscape shift between the top bank’s and fintech’s over the last 10 years Market cap in local currency billions (bn) EGYPT 2014 2024 EGP 319bn 21% fintech EGP 64bn market share EGP 87bn Traditional banks Large fintechs Traditional banks Large fintechs Notes: All market cap data to 22nd May 2024
Slide 11: Landscape shift between top banks and fintechs: Nigeria
11 Landscape shift between the top bank’s and fintech’s over the last 10 years Market cap in local currency billions (bn) NIGERIA 2014 2024 NGN 6 850bn NGN 1 534bn 68% fintech market share NGN 3 256bn Traditional banks Large fintechs Traditional banks Large fintechs Notes: All market cap data to 22n
Slide 12: Landscape shift between top banks and fintechs: South Africa
12 Landscape shift between the top bank’s and fintech’s over the last 10 years Market cap in local currency billions (bn) SOUTH AFRICA 2014 2024 ZAR 946bn ZAR 780bn 5% fintech market share ZAR 50bn Traditional banks Large fintechs Traditional banks Large fintechs Notes: All market cap data to 22nd M
Slide 13: A unique dual-sided merchant and consumer FinTech platform in South Africa
13 A unique dual-sided merchant and consumer FinTech platform in South Africa Competitors in parts of our ecosystem | None with a comprehensive product portfolio covering both cash and digital, in formal & informal, markets Other listed and leading Fintech ecosystems around the world South Africa di
Slide 14: Africa is poised to be the fastest growing Fintech market globally
14 Africa is poised to be the fastest growing Fintech market globally Global fintech revenue growth by region, 2021 to 2030 Growth multiple (x) 2030 Revenues ($bn) North America 4x Europe $520bn 5.5x $190bn LATAM 12.5x AFRICA APAC $125bn 13x 8.5x $65bn $600bn Source: BCG Global Fintech Analysis 2023
Slide 15: Our operations and immediate opportunity are greater than just South Africa
15 Our operations and immediate opportunity are greater than just South Africa coverage Agg. addressable GDP Agg. addressable population $557bn 140 million South Africa’s GDP South Africa’s population $381bn 62 million Source: IMF World Economic Outlook Database, October 2023
Slide 16: Financial Highlights
Financial Highlights
Slide 17: We have demonstrated strong growth in revenue and profitability
17 We have demonstrated strong growth in revenue and profitability Consistent execution against our strategic objectives Group revenue (ZAR) Group adjusted EBITDA 1 (ZAR) Operating income (loss)(ZAR) 11% 55% Improved Connect acquisition R10.6bn R343m only included R67m R9.5bn R691m for part of FY22
Slide 18: Outlook
4 LesaKa ~.% | om _ ct 3 Outlook ep eeee
Slide 19: Outlook: FY25 Q1 and FY25 guidance
19 Outlook FY25 Q1 and FY25 guidance Quarterly Annual FY24 Q1 Actual FY25 Q1 Outlook FY24 Actual FY25 Outlook Group Revenue¹ R2.54bn R2.5bn - R2.7bn R10.6bn R10.0bn - R11.0bn Group Adjusted EBITDA² R150m R160m - R180m R691m R900m - R1.0bn Our outlook provided: • Includes the impact of a portion of r
Slide 20: Appendix
Appendix
Slide 21: Our executive management team have seasoned investor & operator experience
21 Our executive management team have seasoned investor & operator experience Ali Mazanderani, Naeem Kola, Lincoln Mali, Steven Heilbron, EXECUTIVE CHAIRMAN CFO CEO SOUTHERN AFRICA CEO MERCHANT DIVISION AND HEAD CORPORATE DEVELOPMENT Ali is an experienced fintech investor Naeem is a seasoned CFO hav
Slide 22: Our executive management team have seasoned investor & operator experience
22 Our executive management team have seasoned investor & operator experience Denzel Landie Group Chief Risk & Compliance Officer Denzel joined Lesaka in 2022. Prior to Lesaka, Denzel served as George Roussos, Martin Wright, Basie Kok Head of Credit Risk at Tyme Bank and Director of Credit and CEO C
Slide 23: Merchant Division
Merchant Division
Slide 24: The South African merchant market alone provides significant opportunity
24 The South African merchant market alone provides significant opportunity TAM Estimated total number of micro-merchants and merchants 2.7m+ in South Africa SAM Estimated total number of immediately addressable merchants 890k+ in both spaza shops, kiosks, taverns, superettes, midis and the formal r
Slide 25: Southern Africa's informal economy is highly cash-driven & continues to grow
25 Southern Africa’s informal economy is highly cash-driven & continues to grow Size of South Africa’s informal economy is estimated at ZAR 450bn+1 500+ townships | >5% of GDP2 FMCG 100 000+ spaza/superettes 50 000+ 50 000+ Kasi kos 500 000+ table-top traders ZAR 180bn+ Taverns ZAR 110bn+ & Out of h
Slide 26: Necessitating financial inclusion & digitization in the informal market
26 Necessitating financial inclusion & digitization in the informal market Lesaka informal economy digitalisation index Quarterly % - Digitally topped up wallets 50% 40% 30% 20% 10% 0% 2021 2022 2023 2024 Q1 Q2 Q3 Q4 Source:Lesaka informal economy digitalisation index.
Slide 27: Partnerships enabling supply chain payments at Merchant locations
27 Partnerships enabling supply chain payments at Merchant locations • Continued momentum in the uptake of our supplier payments platform by micro-merchant • Throughput FY24 Q3 increased 100% compared to FY23 Q3
Slide 28: Merchant revenue drivers Q4 FY24 | VAS and supplier payments
28 Merchant revenue drivers Q4 FY24 | VAS and supplier payments Value-Added Services and supplier payments | For the quarter 2-year CAGR 45% Devices1 deployed 31% yoy 87 500+ | ▲17% (yoy) R8.0bn 2-year CAGR 31% 61% yoy R6.1bn R3.8bn R1.8bn R1.1bn R1.1bn FY22 Q4 FY23 Q4 FY24 Q4 Throughput (ZAR)2 VAS
Slide 29: Merchant revenue drivers FY24 | VAS and supplier payments
29 Merchant revenue drivers FY24 | VAS and supplier payments Value-Added Services and supplier payments | For the year 2-year CAGR 49% Devices1 deployed 43% yoy 87 500+ | ▲17% (yoy) 2-year CAGR 31% R30.6bn 56% yoy R21.4bn R13.7bn R6.9bn R6.2bn R2.4bn FY22 FY23 FY24 Throughput (ZAR) 2 VAS throughput
Slide 30: Merchant revenue drivers FY24 Q4 | Card acceptance
30 Merchant revenue drivers FY24 Q4 | Card acceptance Card Acceptance | For the quarter 2-year CAGR 47% Devices1 deployed 20% yoy 51 850+ | ▲15% (yoy) 2-year CAGR 51% R4.1bn 83% yoy R3.4bn R1.8bn FY22 Q4 FY23 Q4 FY24 Q4 Throughput (ZAR) Card acceptance throughput “R” = South African Rands, ZAR. 1. T
Slide 31: Merchant revenue drivers FY24 | Card acceptance
31 Merchant revenue drivers FY24 | Card acceptance Card Acceptance | For the year 2-year CAGR 60% Devices1 deployed 30% yoy 51 850+ | ▲15% (yoy) R15.6bn 2-year CAGR 51% 97% yoy R12.0bn R6.1bn FY22 FY23 FY24 Throughput (ZAR) Card acceptance throughput “R” = South African Rands, ZAR. 1. Total devices
Slide 32: Merchant revenue drivers FY24 Q4 | Cash management solutions
32 Merchant revenue drivers FY24 Q4 | Cash management solutions Digitalization of Cash | For the quarter 2-year CAGR 3% Devices1 deployed 4% yoy 4 440+ | ▲1% (yoy) 2-year CAGR 4% 2% yoy R28.1bn R26.3bn R26.9bn FY22 Q4 FY23 Q4 FY24 Q4 Throughput (ZAR) Cash settlements (throughput) “R” = South African
Slide 33: Merchant revenue drivers FY24 | Cash management solutions
33 Merchant revenue drivers FY24 | Cash management solutions Digitalization of Cash | For the year 2-year CAGR 5% Devices1 deployed 2% yoy 4 440+ | ▲1% (yoy) 2-year CAGR 4% 8% yoy R110.1bn R112.6bn R102.1bn FY22 FY23 FY24 Throughput (ZAR) Cash settlements (throughput) “R” = South African Rands, ZAR
Slide 34: Merchant revenue drivers FY24 Q4 | Lending
34 Merchant revenue drivers FY24 Q4 | Lending Lending1 | For the quarter 2-year CAGR² 1% (15%) yoy² R333m 19% yoy² R284m R262m R294m R241m R284m R229m R175m R154m R180m R151m R154m FY22 Q4 FY23 Q4 FY24 Q4 Capital Connect credit disbursed Capital Connect loan book size at period end Kazang Pay Advanc
Slide 35: Merchant revenue drivers FY24 | Lending
35 Merchant revenue drivers FY24 | Lending Lending1 | For the year 2-year CAGR² 9% (7%) yoy² 28% yoy² R1 029m R 739m R 636m R769m R716m R601m R333m R284m R241m R294m R284m R229m FY22 FY23 FY24 Capital Connect credit disbursed Capital Connect loan book size at period end Kazang Pay Advance Merchant C
Slide 36: Merchant revenue drivers | Enterprise
36 Merchant revenue drivers | Enterprise EasyPay VAS and bill payments • Strategically important asset with scale comprising EasyPay, Prism & PrismPOS For the quarter For the year - Servicing 750+ clients (23%) yoy 0.1% yoy - 600+ billers and continue to sign on new billers - 150+ corporate clients
Slide 37: Merchant performance Q4 FY24
37 Merchant performance Q4 FY24 Merchant Segment Revenue (Rm) Merchant Segment Adjusted EBITDA (Rm) 10% yoy (1%) yoy 1 R2 378m R 154m R 153m R2 159m R 135m R 143m R 19m R 10m FY23 Q4 FY24 Q4 FY23 Q4 FY24 Q4 Merchant Division Nuets, Kazang Pay Advance & bulk VAS purchases Merchant Division 1. Refer t
Slide 38: Merchant performance FY24
38 Merchant performance FY24 Merchant Segment Revenue (Rm) Merchant Segment Adjusted EBITDA (Rm) 12% yoy 4% yoy R9 320m R 624m R8 319m R 602m R 585m R 507m 15% yoy¹ R95m R39m FY23 FY24 FY23 FY24 Merchant Division NUETS, Kazang Pay Advance and bulk VAS purchases² Merchant Division 1. FY23 & FY24 Merc
Slide 39: Consumer Division
Lesaka Consumer Division amie | oe mm «
Slide 40: Attractive Total Addressable Market and Serviceable Addressable Market
40 Attractive Total Addressable Market and Serviceable Addressable Market Focused value proposition servicing a specific sector within the consumer market Consumers* LSM1 1 to 6 in South Africa 4% 5% TAM 6% ~26m 29% 7% SAM Post Bank ~12m 2 7% Capitec Lesaka FirstRand Bank Lesaka 11% Nedbank ~1.5m3 S
Slide 41: Growth in EPE base | Continued momentum in cross selling & upselling
41 Growth in EPE base | Continued momentum in cross selling & upselling initiatives Products and service channels designed to meet our customers’ needs Momentum in driving customer acquisition Deepening our relationship with our customers For the quarter For the year >20% yoy >30% yoy >35% yoy Gross
Slide 42: Consumer | Offering straight forward and cost-effective Financial Services
42 Consumer | Offering straight forward and cost-effective Financial Services KPIs FY24 Q4 BANKING SHORT-TERM LOANS PERSONAL INSURANCE ~1.5m R548m ~439 000 Active EPE customers Loan book before allowances Active insurance policies ▲19% YoY1 ▲32% YoY ▲31% YoY Permanent grant customers ▲21% YoY1 ~6% l
Slide 43: Differentiated offering with obsession around our customer
43 Differentiated offering with… Obsession around our customer What our customers are saying: Don’t feel it Easy from Enough time when the money my phone, to pay back comes off Helped me no queues repair my roof Access to in an emergency Helps me buy the money needed school supplies immediately Affo
Slide 44: Repositioned EasyPay Everywhere brand
44 Repositioned EasyPay Everywhere brand To one that resonates with our customers Optimally located points of presence Digital strategy VAS offering & loyalty programmes
Slide 45: EPE Growth strategy yielding encouraging results | Q4 FY24
45 EPE Growth strategy yielding encouraging results | Q4 FY24 Momentum in delivering growth in client base and ARPU¹ Consumer Segment Revenue (Rm) Consumer Segment Adjusted EBITDA 2 (Rm) 14% yoy 94% yoy 4% qoq 10% qoq R90m R82m R338m R353m R309m R46m R244m (R19m) FY22 Q4 FY23 Q4 FY24 Q3 FY24 Q4 FY22
Slide 46: EPE Growth strategy yielding encouraging results | FY24
46 EPE Growth strategy yielding encouraging results | FY24 Momentum in delivering growth in client base and ARPU¹ Consumer Segment Revenue (Rm) Consumer Segment Adjusted EBITDA 2 (Rm) Delivery against strategic focus areas 15% yoy 361% yoy 1. Grow active EPE R274m 2. Increase ARPU1 R59m R1 295m 3. R
Slide 47: Financial performance & additional information
Financial performance & additional information
Slide 48: FY24 and FY24 Q4 | Continuation of our strong & consistent performance
48 FY24 and FY24 Q4 | Continuation of our strong & consistent performance For the year For the quarter Financial period FY23 FY24 Growth FY23 Q4 FY24 Q4 Growth Ended 30 June Revenue R9 472 million R10 553 million 11% R2 495 million R2 711 million 9% Group Adjusted EBITDA¹ R445 million R691 milli
Slide 49: Group Revenue for Q4 2024 and FY2024
49 Group Revenue for Q4 2024 and FY2024 Consistent execution Group Revenue For the quarter For the year 9% yoy 11% yoy R10 553m R2 711m R9 472m R9 320m R2 495m R2 378m R8 319m R2 159m 10% yoy 12% yoy R309m 14% yoy R353m R1 127m 15% yoy R1 295m R28m (R20m) R26m (R62m) FY23 Q4 FY24 Q4 FY23 FY24 Other
Slide 50: Group Adjusted EBITDA for Q4 2024 and FY2024
50 Group Adjusted EBITDA for Q4 2024 and FY2024 Consistent execution Group Adjusted EBITDA For the quarter For the year 30% yoy 55% yoy R 691m R190m R624m R146m R153m R 445m R154m R602m (1%) yoy 4% yoy R90m R274m 94% yoy 361% yoy R46m R59m (R12m) (R19m) (R52m) (R61m) (R42m) (R34m) (R147m) (R163m) FY
Slide 51: GAAP Income Statement for the year (FY24 and FY23)
51 GAAP Income Statement for the year (FY24 and FY23) ZAR’000 $’000 % Growth % Growth Year ended 30 June FY24 FY23 YoY FY24 FY23 YoY Average exchange rate for conversion from ZAR to $ R18.68 R17.94 4.1% R18.68 R17.94 4.1% Revenue 10 553 233 9 471 800 11.4% 564 222 527 971 6.9% Expense (10 485 978) (
Slide 52: Segmental EBITDA analysis for the year (FY24 and FY23)
52 Segmental EBITDA analysis for the year (FY24 and FY23) ZAR’000 $’000 Year ended 30 June FY24 FY23 % Growth FY24 FY23 % Growth Average exchange rate for conversion from ZAR to $ R 18.68 R 17.94 4.1% R 18.68 R 17.94 4.1% Revenue Merchant 9 320 468 8 318 796 12.0% 498 314 463 701 7.5% Consumer 1 294
Slide 53: GAAP Income Statement for the quarter
53 GAAP Income Statement for the quarter (FY24 Q4, FY23 Q4, FY24 Q3) ZAR’000 $’000 % Growth % Growth For the quarter FY24 Q4 FY23 Q4 YoY FY24 Q3 FY24 Q4 FY24 Q3 YoY FY24 Q3 Average exchange rate for conversion from ZAR to $ R18.47 R18.74 (1.5%) R18.88 R18.47 R18.74 (1.5%) R18.88 Revenue 2 711 155 2
Slide 54: Segmental EBITDA analysis for the quarter (FY24 Q4 and FY23 Q4)
54 Segmental EBITDA analysis for the quarter (FY24 Q4 and FY23 Q4) ZAR’000 $’000 Q4 - ended 30 June FY24 Q4 FY23 Q4 % Growth FY24 Q4 FY23 Q4 % Growth Average exchange rate for conversion from ZAR to $ R18.47 R18.74 (1.5%) R18.47 R18.74 (1.5%) Revenue Merchant 2 377 558 2 158 878 10.1% 128 070 115 19
Slide 55: Segmental EBITDA analysis for the quarter (FY24 Q4 and FY24 Q3)
55 Segmental EBITDA analysis for the quarter (FY24 Q4 and FY24 Q3) ZAR’000 $’000 For the quarter FY24 Q4 FY24 Q3 % Growth FY24 Q4 FY24 Q3 % Growth Average exchange rate for conversion from ZAR to $ R18.47 R 18.88 (2.2%) R18.47 R18.88 (2.2%) Revenue Merchant 2 377 558 2 285 394 4.0% 128 070 121 013 5
Slide 56: Fundamental and Basic earnings per share
56 OVERVIEW Fundamental and Basic earnings per share MERCHANT Fundamental¹ earnings (loss) per share (ZAR) Basic (loss) per share (ZAR) DIVISION For the quarter For the year For the quarter For the year Improved Improved Improved Improved R1.18 R3.72 R2.06 R4.82 CONSUMER per share per share per shar
Slide 57: Delivering positive cash from business operations at Group level
57 Delivering positive cash from business operations at Group level Net Cash provided by (used in) operating activities (ZAR) For the quarter For the year Improved R531m R183m R538m Improved R109m R104m R7m (R5m) (R104m) (R565m) FY22 Q4 FY23 Q4 FY23 Q4 FY24 Q4 FY22 FY23 FY24 excl. Bulk VAS inflow “R
Slide 58: Leverage ratio improved with focus on reducing debt & growing Group Adjusted EBITDA
58 Leverage ratio improved with focus on reducing debt & growing Group Adjusted EBITDA Generating positive cash flow at an operational level Summary Group cash flow (Rm) FY24 Q4 FY24 Q3 FY24 Q2 FY24 Q1 Ordinary working capital requirements stable Cash generated from business operations¹ 211 175 207
Slide 59: CAPEX primarily driven by growth
59 CAPEX primarily driven by growth Capex (Rm) FY23 Q4 FY24 Q2 FY24 Q3 FY24 Q4 FY23 FY24 Capex 55 41 56 87 290 237 Capex R87m R25m | Kazang • Point-of-sales devices on average have a payback of < 4 months and a 36-month useful life R55m R56m • Highly cash generative / short pay-back period R70m Grow
Slide 60: Forward-looking statements
60 Forward-looking statements Forward-looking statements are based on estimates and assumptions by our management that, although we believe to be reasonable, are inherently uncertain. Forward-looking statements involve risks and uncertainties including, but not limited to, economic, competitive, gov
Slide 61: Use of Non-GAAP measures
61 Use of Non-GAAP measures U.S. securities laws require that when we publish any non-GAAP measures, we disclose the reason for using these non-GAAP measures and provide reconciliations to the most directly comparable GAAP measures. We have received requests from investors and analysts to provide ad
Slide 62: Reconciliation of non-GAAP measures | For the year
62 Reconciliation of non-GAAP measures | For the year Year ended 30 June FY24 FY23 FY24 FY23 ZAR’000 ZAR’000 $’000 $’000 Average exchange rate for conversion from ZAR to $ 18.68 17.94 18.68 17.94 Loss attributable to Lesaka – GAAP (326 070) (629 227) (17,440) (35 074) Loss from equity accounted inve
Slide 63: Reconciliation of non-GAAP measures | Quarterly
63 Reconciliation of non-GAAP measures | Quarterly FY24 Q4 FY24 Q3 FY23 Q4 FY24 Q4 FY24 Q3 FY23 Q4 ZAR’000 ZAR’000 ZAR’000 $’000 $’000 $’000 Average exchange rate for conversion from ZAR to $ 18.47 18.88 18.74 18.47 18.88 18.74 Loss attributable to Lesaka – GAAP (93 201) (76 415) (223 192) (5 035) (
Slide 64: Reconciliation of non-GAAP measures | For the year
64 Reconciliation of non-GAAP measures | For the year FY24 FY23 FY24 FY23 2024 EPS, 2023 EPS, $2024 EPS, 2023 EPS, ZAR’000 basic ZAR’000 basic ’000 basic $’000 basic Average exchange rate for conversion from ZAR to $ R17.13 R14.61 R17.13 R14.61 Net loss attributable to Lesaka (GAAP) (326 070) (5.07)
Slide 65: Reconciliation of non-GAAP measures | For the Quarter
65 Reconciliation of non-GAAP measures | For the Quarter FY24 Q4 FY23 Q4 FY24 Q4 FY23 Q4 EPS, ZAR’000 EPS, basic ZAR’000 EPS, basic $’000 EPS, basic $’000 basic Average exchange rate for conversion from ZAR to $ R18.47 R18.74 R18.47 R18.74 Net loss attributable to Lesaka (GAAP) (93 201) (1.44) (223
Slide 66: Once-off items | For the year and Quarterly
66 Once-off items | For the year and Quarterly The table below presents the components of once-off items for the periods presented: FY24 FY23 FY24 Q4 FY24 Q3 FY23 Q4 FY24 FY23 FY24 Q4 FY24 Q3 FY23 Q4 Year Quarter Year Quarter ZAR’000 ZAR’000 ZAR’000 ZAR’000 ZAR’000 $’000 $’000 $’000 $’000 $’000 Aver
Slide 67: Outlook on stock-based compensation charges (SBC)
67 Outlook on stock-based compensation charges (SBC) (ZARM) Stock-based compensation charges R181m • Current level of SBC reflects higher amounts due to senior executive sign-on that will vest over the next 3-years R52m linked to performance R148m • Higher FY23 SBC charge related to once-off award R
Slide 68: Glossary
68 Glossary MSME Micro small and medium enterprise SMME Small, medium, and micro enterprise Kazang VAS offering Kazang is a leader in prepaid value-added services in Southern Africa. We help shop owners, traders and other entrepreneurs to i ncrease sales and profits, and to grow their businesses. Al
Slide 69: Glossary
69 Glossary Cash vault Kazang offering Partnerships enabling supply chain payments Lesaka ” means “ kraal” in Sesotho and Setswana Spaza shops and superettes at Merchant locations
Slide 70: Glossary
70 Glossary Lesaka "kraal" Lesaka ” means “ kraal” in Sesotho and Setswana. A “kraal” protects the most valuable assets of a community, their livestock LSM Living standards measure EPE EasyPay Everywhere Easy Pay Insurance EasyPay insurance (previously named Smartlife), which holds a long-term insur
Slide 71: Lesaka
LESQKA
Lesaka Technologies — Investor Presentation (September 2024) on 6ix