Lesaka Technologies announces leadership changes, CEO to step down
LSAK
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Lesaka Technologies Inc, a company dedicated to advancing financial inclusion in Southern Africa through its innovative banking solutions, has announced significant upcoming changes to its leadership team. CEO Chris Meyer is set to conclude his tenure on February 29, 2024, after nearly three years at the helm. During his time as CEO, Meyer led a successful turnaround of the company, which included the acquisition of Connect Group and the revitalization of the Consumer division into profitability.
Ali Mazanderani is slated to take over as Executive Chairman starting February 1, 2024. Mazanderani’s vision has been instrumental in shaping Lesaka’s strategic focus since his board appointment in 2020. His extensive background includes co-founding European fintech Teya and serving in director roles at major fintech firms such as StoneCo and Network International. With this transition, Kuben Pillay will move from his current role as Chairman to become the Lead Independent Director, ensuring that the company maintains robust corporate governance standards.
Lesaka Technologies, formerly known as Net1, rebranded after acquiring Connect Group and is listed on both NASDAQ and JSE. The company prides itself on offering a range of financial services that cater to both business-to-business (B2B) and business-to-consumer (B2C) markets across Southern Africa. These services include merchant cash management and consumer banking solutions designed to meet the needs of formal and informal retail merchants.
As Meyer prepares to continue his involvement with Lesaka as a director after stepping down as CEO, the company remains focused on its mission to provide proprietary banking and payment technologies that promote financial accessibility throughout the region.
