Lesaka Technologies has revealed significant leadership changes as part of its strategic evolution. The company, listed on Nasdaq (LSAK) and the Johannesburg Stock Exchange (LSK), announced that Chris Meyer, who served as Group CEO for nearly three years, will conclude his tenure on February 29, 2024.
Chris Meyer, during his leadership, spearheaded the successful turnaround and rebuilding of Lesaka’s fintech platform. Under his guidance, the Consumer division returned to profitability, and the acquisition of Connect Group proved to be a resounding success. Meyer expressed pride in the accomplishments of the Lesaka team, highlighting the establishment of a robust corporate governance and risk management framework, as well as the development of a values system and culture resonating with over 2,400 colleagues across Southern Africa.
In his departure statement, Meyer said, “The vibrant and energized Lesaka of today looks very different to the business we took on almost 3 years ago, and I am exceptionally proud of what this extraordinary team has achieved.”
Lesaka Technologies announced the appointment of Ali Mazanderani as the new Executive Chairman, effective February 1, 2024. Ali Mazanderani, a fintech entrepreneur and Lesaka board member since 2020, played a crucial role in shaping Lesaka’s vision to become the leading fintech platform in Southern Africa.
Ali Mazanderani, who is also the co-founder and Chairman of Teya, a leading European fintech, expressed his commitment to Lesaka’s journey, stating, “The company is well positioned to deliver exceptional value to its stakeholders and benefit the communities it serves. I look forward to deepening my involvement with Lesaka and working with the entire team to realize our vision.”
Kuben Pillay, the current Chairman of the Lesaka Board, will transition to the role of Lead Independent Director effective February 1, 2024. Pillay expressed gratitude for Chris Meyer’s contributions and excitement about Ali Mazanderani’s appointment. He stated, “Ali is ideally suited to lead Lesaka through the next phase of growth.”
The transition aligns with best practices of corporate governance and independence, with Kuben Pillay continuing to chair board meetings.
Lesaka Technologies, on its journey to becoming a leading fintech driving financial inclusion, sees these leadership changes as a strategic move to navigate the next phase of growth. With Ali Mazanderani at the helm, the company aims to leverage its foundation and continue delivering innovative fintech solutions for South Africa’s merchant and consumer markets.
The press release included forward-looking statements, emphasizing Lesaka’s anticipation of future financial results and business opportunities. Investors and stakeholders are encouraged to review the company’s filings with the SEC for detailed insights into factors that could impact actual results.