NASDAQ-listed Lesaka will finalise $85 million Adumo acquisition in October
- Lesaka Technologies to finalize $85 million acquisition of Adumo in October 2024.
- Acquisition approved by shareholders and South Africa’s Competition Commission.
- Expansion of consumer and SME merchant financing services into Botswana, Kenya, Namibia, South Africa, and Zambia.
The acquisition of Adumo represents a strategic move for Lesaka Technologies, positioning the company to capture a larger share of the Southern African fintech market. This growth strategy, coupled with the potential for further acquisitions, suggests a robust outlook for Lesaka in an increasingly competitive landscape. However, it will be crucial for the company to effectively integrate Adumo's operations and maintain service quality to realize the anticipated benefits.
