Lesaka Technologies, the fintech with a secondary JSE listing and a primary listing on Nasdaq, has appointed Ali Mazanderani as chairman, Kuben Pillay as lead independent director, while Chris Meyer will conclude his tenure as group CEO in February 2024.
Lesaka said in a statement yesterday that during Meyer’s nearly three years as CEO, he had led a successful turnaround and building of the Lesaka fintech platform. Meyer will remain a director of Lesaka.
"I have dedicated all my energy over nearly three years to the turnaround and rebuilding of the Lesaka platform, spending the majority of that time apart from my family in the UK. The vibrant and energised Lesaka of today looks very different to the business we took on almost three years ago…the Consumer division has returned to profitability and the Connect Group acquisition has been a resounding success,“ Meyer said
He said a strong leadership team had been built, a robust corporate governance and risk management framework was in place, and a values system and culture that resonated with 2 400 staff across Southern Africa had been implemented.
Ali Mazanderani would become executive chairman on February 1, 2024.
“Mazanderani had been a Lesaka board member since 2020. “It was Ali's vision to build the leading fintech platform in Southern Africa that set Lesaka on its journey. He presented this strategy to the market at Lesaka's fourth quarter 2020 earnings call and has played a key role in Lesaka's evolution,” the company said yesterday.
He is co-founder and Chairman of Teya, a leading European fintech and served as a director of global fintech companies, including StoneCo in Brazil and Network International in the UAE.
Chairman Kuben Pillay said he had played, “an integral role in setting Lesaka on the journey to become the leading fintech driving financial inclusion…he is ideally suited to lead Lesaka through the next phase of growth."
Pillay's role will change from chairman to lead independent director, effective February 1, 2024.
Lesaka offers cash management solutions, growth capital, card acquiring, bill payment technologies and value-added services to formal and informal retail merchants as well as banking, lending, and insurance solutions to consumers across Southern Africa.