Bank Zero, the innovative digital mutual bank, is set to be acquired by Lesaka Technologies for R1.1 billion, according to an announcement by Bank Zero chairman and co-founder Michael Jordaan. The acquisition is pending necessary regulatory approvals. Read: Honor unveils the world’s thinnest foldable, the Magic V5 Bank Zero, co-founded seven years ago by Michael…
Bank Zero will join forces with fintech group Lesaka Technologies. Fintech group Lesaka Technologies will acquire 100% of the issued ordinary shares of Bank Zero, subject to regulatory approvals. Formerly known as Net1 UEPS Technologies, Lesaka is listed on the Johannesburg Stock Exchange and the Nasdaq. Based on a zero-fee banking model, Bank Zero launched…
Lesaka Technologies has agreed to buy the digital bank chaired by former FNB CEO Michael Jordaan for R1.1-billion. Jordaan announced the acquisition in a post on social media late on Thursday evening. “So Lesaka Technologies Inc bought @BankZeroSA for R1.1-billion. Lot of regulatory approvals still needed, but both teams are excited about the merger synergies,”…
