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JSE and Nasdaq-listed fintech group Lesaka Technologies, formerly known as Net1, today announced the resignation of its chief accounting officer, Alex Smith.
The resignation of Smith is effective 1 March 2023.
Lesaka said Smith is leaving the company to pursue other opportunities.
The company added that Smith will assist in consolidating the roles and responsibilities of Chief Accounting Officer (CAO) into the ambit of Lesaka’s highly experienced Finance team.
“The past 18 months have been a time of significant transformation for Lesaka,” said Chris Meyer: Group CEO.
“While it has been challenging, our focus on execution has resulted in substantial strides being made towards building and operating the leading South African full service fintech platform.”
Meyer added that Smith has played a key role in Lesaka’s growth journey and its transition from Net 1
“Prior to my appointment, Alex was interim Group CEO for over a year after serving as the company Chief Financial Officer for four years. I would like to thank Alex for his valuable contribution to the company.”
Net1 changed its name to Lesaka ast year as part of shedding its tainted image from the Sassa debacle.
Lesaka means “kraal” in Setswana and Sesotho
The company valued at R4.7 billion on the JSE has seen its stock dropped 43.88% in the past year and down 9.09% in the past year despite rising 14.29% in the past seven days
“The successful acquisition and integration of the Connect Group (Connect) was a landmark transaction for Lesaka.
“It has been transformational in the company’s turnaround journey and has strengthened the Company’s strategic position, underpinned by Connect’s track record of profitability and growth at scale.,” said Naeem E. Kola: Group CFO.
“As part of the integration of Connect, we have built a finance and reporting function that is well-equipped to support Lesaka’s growth prospects and execute on opportunities for expansion as these emerge.
“The integration of Connect benefited the finance function substantially, by incorporating Connect’s capable and experienced finance team. Consequently, the roles and responsibilities previously undertaken by the CAO are being consolidated into Lesaka’s finance team.”
Also read: FinTech Group Lesaka Retains Steven Heilbron As CEO Of Connect Until 2025
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