Inside the R1.1 billion Bank Zero deal backed by venture capitalist and banking legend Michael Jordaan

• Lesaka’s R1.1 billion acquisition of Bank Zero will solve the single biggest challenge any fintech start-up faces: acquiring distribution.
• The deal was first announced in June 2025, when Lesaka said its subsidiary, Lesaka Technologies, entered into an agreement to acquire 100% of Bank Zero’s issued ordinary shares.
• The transaction has been unconditionally approved by South Africa’s competition authorities and is expected to become unconditional in December 2026.