Lesaka, Linked To Africa's First Black Billionaire Patrice Motsepe, Posts 36.7 Million Loss In H1 2024

Lesaka Technologies, the fintech firm backed by African Rainbow Capital ARCthe investment group led by Africas first Black billionaire, Patrice Motsepereported mixed financial results for the six months ended Dec. 31, 2024 . Revenue continued to grow, but widening losses weighed on profitability.

The company's net loss deepened from 8.36 million to 36.65 million, even as revenue exceeded 290 million, driven largely by its merchant division, which contributes more than 79 percent of total revenue. While acquisitions and business expansion supported growth, they also put pressure on margins.

Lesakas latest financial update showed revenue rising 4.42 percent year-over-year to 292.36 million, largely fueled by its merchant business. The consumer segment, which accounts for 79.2 percent of total revenue, recorded modest growth of 0.96 percent, while net revenue jumped 35.2 percent to 135.87 million. However, increased costs and investments in expansion led to a sharp rise in net loss, climbing from 8.36 million to 36.65 million.

Lesaka Chairman Ali Mazanderani remained optimistic about the companys performance, saying, I am pleased that we exceeded our Group Adjusted EBITDA guidance for the quarter and can re-affirm our FY2025 guidance. He noted that Lesaka has now met profitability guidance for ten straight quarters and projected Group Adjusted EBITDA to reach between R1.25 billion 67.68 million and R1.45 billion 78.5 million for FY2026.

Lesaka continues to strengthen its position in Africas fast-evolving fintech space, where digital financial services adoption is accelerating. The company remains focused on expanding its role in financial inclusion and digital payments across the region.