Lesaka Technologies has strengthened its enterprise payments platform with the acquisition of Mobilemart for US$2.5 million (ZAR 40 million).
The all-cash transaction was completed on 6 February 2026 through its subsidiary, Prism Holdings.
This marks the company’s second acquisition in FY2026, following the US$0.7 million purchase of Atom Operations in December 2025.
Strategic Integration and Value Creation
Mobilemart has been fully integrated into Lesaka’s Enterprise division, which serves large corporates, banks, and municipalities.
The acquisition adds complementary capabilities in transaction processing and prepaid vending solutions, enhancing Lesaka’s service offering to enterprise clients.
This bolt-on acquisition follows the earlier purchase of Recharger in 2025 and forms part of Lesaka’s disciplined growth strategy through targeted, value-accretive deals.
The two recent acquisitions have already contributed US$4.3 million in revenue during a partial reporting period.
Strong Financial Position and Outlook
The cash-funded acquisition highlights Lesaka’s solid balance sheet, with cash reserves exceeding US$90 million as of March 2026.
This approach avoids shareholder dilution while supporting active capital management, including share repurchases.
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Lesaka recently reported a significant financial turnaround, recording a net income of US$455,000 compared to a US$22.2 million loss in the prior year.
Key drivers included:
- Consumer division revenue: +41%
- Enterprise division revenue: +78%, with adjusted EBITDA growing more than 13-fold
- Overall net revenue: +16%
- Adjusted EBITDA: +45%
The company has raised its full-year guidance, projecting net revenue of US$335 million to US$352 million and adjusted EBITDA of US$67.6 million to US$73 million.
Lesaka expects positive net income for shareholders, excluding the impact of the pending Bank Zero transaction.
Strategic Significance
The Mobilemart acquisition reinforces Lesaka’s position as a diversified fintech player in South Africa, expanding its enterprise capabilities while maintaining strong financial discipline.
Through a combination of organic growth and strategic bolt-on acquisitions, Lesaka continues to build a robust fintech ecosystem across consumer, enterprise, and merchant segments.
The company is also progressing with its proposed acquisition of Bank Zero, a digital mutual bank, announced in June 2025.
Future Outlook
Lesaka Technologies’ acquisition of Mobilemart for US$2.5 million represents the second strategic bolt-on deal in FY2026, further strengthening its enterprise payments platform and overall fintech capabilities.
Supported by a strong balance sheet, improved profitability, and raised full-year guidance, the transaction emphasises Lesaka’s disciplined approach to value-accretive growth.
Lesaka Technologies Overview
Lesaka Technologies CEO: Lesaka Technologies is led by executive chairman Ali Mazanderani, while Lincoln C. Mali serves as CEO for Southern Africa operations. Former Group CEO Chris Meyer stepped down in 2024.
Lesaka Technologies Investor Relations: Investor updates, annual reports, earnings releases, SEC filings and shareholder information are available through the company’s Investor Relations section on the official Lesaka website.
You can access the company website here:
Lesaka Technologies Investor Relations
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