South Africa’s Bank Zero shareholders to pocket $5m and 12% stake in Lesaka acquisition

The shareholders of South Africa’s Bank Zero are set to receive a 12% stake in Lesaka Technologies, worth roughly R1 billion ($56.3 million), plus up to R91 million ($5.1 million) in cash, as part of a deal that will see Lesaka fully acquire the zero-fee digital bank.

The R1.1 billion ($61.4 million) deal, pending regulatory approval, marks a strategic shift for Lesaka from fintech to…