Lesaka Technologies (NASDAQ:LSAK) has secured approval from
South Africa’s Competition Commission for its planned $64mn
acquisition of Bank Zero, clearing the key merger-control hurdle in
the transaction first announced in June 2025, the company said.
Bank Zero shareholders will receive around 12% of Lesaka’s fully
diluted shares and up to $5mn in cash once the deal closes.
The ruling moves Lesaka closer to gaining control of Bank Zero’s
South African banking licence and digital banking infrastructure,
enabling the fintech group to transition into a more integrated
financial-services model. Lesaka said the agreement positions the
combined business to broaden its product portfolio across consumer
and merchant segments.
Bank Zero operates a fully digital, zero-fee banking model
launched in 2021, and is part of a growing field of South African
digital-banking entrants. The acquisition gives Lesaka an
opportunity to embed a licensed banking core into its existing
payments, acquiring and retail-financial services footprint.
Lesaka described the merger as a step that could support scale
efficiencies and expand revenue streams, but said detailed
integration plans will follow once remaining regulatory processes
are completed. Forward-looking statements have not yet been
accompanied by a published rollout schedule or operational
milestones.
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