Lesaka Technologies, backed by South African billionaire Patrice Motsepe, has received approval from South Africa’s Competition Commission for its planned $64 million purchase of Bank Zero.
This clearance removes a major regulatory hurdle for the deal, announced in June 2025.
The acquisition will give Lesaka a licensed banking platform, expanding its financial services offerings across South Africa.
Bank Zero, launched in 2021, offers a fully digital, zero-fee banking model, making it an attractive asset for Lesaka.
Under the agreement, Bank Zero shareholders will receive about 12% of Lesaka’s fully diluted shares and up to $5 million in cash.
The deal is expected to enhance Lesaka’s fintech capabilities, broaden its product portfolio, and open new revenue streams.
Lesaka, listed on NASDAQ and the Johannesburg Stock Exchange, has a market value of around $331 million.
The company has been actively expanding its fintech presence, acquiring Recharger, a prepaid electricity submetering and payments provider, for $28 million last year.
