Business

Alex Smith departs from Lesaka

Alex Smith, chief accounting officer (CAO) of JSE- and Nasdaq-listed fintech company Lesaka Technologies (Lesaka), will step down from his role to pursue other opportunities effective 1 March.

Smith joined the company in March 2018 as chief financial officer (CFO), treasurer and secretary. He also served as its interim group CEO from October 2020 until July 2021. Before joining Lesaka, he was the director and CFO of JSE-listed technology solutions company Altron (Allied Electronics Corporation Limited).

Lesaka initially began operating as Net 1 UEPS Technologies in 1997 and later rebranded to Lesaka in 2022, when it acquired fintech solutions company Connect Group (Connect).

“The successful acquisition and integration of the Connect Group was a landmark transaction for Lesaka. It has been transformational in the company’s turnaround journey and has strengthened the company’s strategic position, underpinned by Connect’s track record of profitability and growth scale,” notes Lesaka Group CFO Naeem Kola in a statement issued on Wednesday.

“As part of the integration of Connect, we have built a finance and reporting function that is well-equipped to support Lesaka’s growth prospects and execute opportunities for expansion as these emerge. I would like to thank Alex for his support, insights, and contribution [to] our team.”

Kola says Connect’s integration significantly benefited Lesaka’s finance function with the addition of its team.

“Consequently, the roles and responsibilities previously undertaken by the CAO are being consolidated into Lesaka’s finance team,” he adds.

Lesaka Group CEO Chris Meyer said: “The past 18 months have been a time of significant transformation for Lesaka. While it has been challenging, our focus on execution has resulted in substantial strides being made towards building and operating the leading South African full service fintech platform.”

“Alex has played a key role in Lesaka’s growth journey and its transition from Net1 to Lesaka… I would like to thank Alex for his valuable contribution to the company.”

Nondumiso Lehutso is a Moneyweb intern.


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