Lesaka Completes Recharger Acquisition for Growth in SA Utilities

Deal News | Mar 05, 2025 | Globenewswire

Lesaka Technologies, a South African fintech company, announced the completion of its acquisition of Recharger (Pty) Ltd, a prepaid electricity submetering and payments business, for ZAR 507 million ($27 million). The acquisition includes a combination of cash and shares, with Lesaka also extending a ZAR 43 million ($2 million) loan to Recharger. This acquisition marks Lesaka's strategic expansion into the South African private utilities sector and enhances its Enterprise Division through alternative payment offerings. The deal facilitates Lesaka's entry into the utility billing and collection space, enabling landlords and tenants to manage utilities payments efficiently. Recharger, with over 460,000 registered prepaid meters, aligns well with Lesaka's mission to broaden financial services and software across Southern Africa's underserved markets.

Sectors

Financial Technology (Fintech)
Utility Services

Geography

South Africa – Both Lesaka Technologies and Recharger are based in South Africa, and the acquisition expands Lesaka's operations within this geographical market.

Industry

Financial Technology (Fintech) – Lesaka Technologies is a fintech firm focusing on providing financial services, software, and alternative digital payment solutions.
Utility Services – The acquisition of Recharger, a prepaid electricity submetering business, expands Lesaka's presence into the private utilities sector in South Africa.

Financials

ZAR 507 million ($27 million) – Total purchase consideration for the acquisition of Recharger, comprising cash and shares.
ZAR 43 million ($2 million) – Loan extended by Lesaka to Recharger to settle existing debts.

Participants

Name	Role	Type	Description
Lesaka Technologies, Inc.	Acquiring Company	Company	A South African fintech company with a mission to provide financial services and software to underserviced consumers and merchants.
Recharger (Pty) Ltd	Target Company	Company	A South African prepaid electricity submetering and payments business with over 460,000 registered prepaid electricity meters.