Here is a rewritten version of the content in a provocative and controversial manner:
The Fintech Empire: Lesaka’s Rise to Power
Lesaka Technologies, the behemoth fintech company, has just released its financial results for the year ended 30 June 2024. And the numbers are mind-blowing. Revenue has skyrocketed by 11%, reaching a whopping R10.6 billion. But that’s not all. The company has also announced a series of leadership changes and restructuring, all aimed at cementing its position as the leading fintech player in Southern Africa.
The Real Power Brokers
Lesaka’s CEO, Lincoln Mali, is a master strategist, and his company is proof of his vision. But what’s even more remarkable is the network of influential figures behind the scenes, pulling the strings. Take Ali Mazanderani, the chairman of Lesaka, for instance. A shrewd businessman with a reputation for getting things done, he’s been instrumental in Lesaka’s growth. And then there’s Naeem Kola, the group CFO, who’s been instrumental in Lesaka’s financial turnaround.
The Elephant in the Room
But what about Adumo, the payments services provider Lesaka acquired in a R1.59 billion deal? Some are calling it a game-changer, while others see it as a costly gamble. The truth is, Adumo brings a lot of expertise and scale to the table, but at what cost? Lesaka’s operating income has taken a hit, and the company is still struggling to integrate Adumo’s operations.
The Real Deal
Lesaka’s success is not just about the numbers. It’s about the company’s ability to adapt, innovate, and disrupt the status quo. Take its consumer division, for instance. Lesaka has managed to turn it into a profit and cash flow contributor, with segment adjusted EBITDA growing fourfold to R274 million. And with the incorporation of Adumo, Lesaka is now serving approximately 1.7 million consumers.
The Dark Side
But let’s not forget the critics. Lesaka’s critics argue that the company’s aggressive growth strategy is built on shaky ground, with some even calling it a Ponzi scheme. Others point to the company’s lack of transparency, claiming that Lesaka is hiding something. And then there are the allegations of financial irregularities, which have yet to be fully investigated.
The Future
So what’s next for Lesaka? The company is set to close the Adumo acquisition in October, and it’s promising a new era of growth and innovation. But the question remains: can Lesaka maintain its momentum, or will it succumb to the pressures of growth and regulation? Only time will tell.
