Question · Q1 2026
Jared Houston from All Weather, along with Prashendran, asked for clarification on Lesaka's stance regarding the potential Cell C IPO, specifically if the company is content with its listing and exit, and the rationale behind the current option structure. He also inquired about the recent ramp-up in fintech interest in South Africa.
Answer
Executive Chairman Ali Mazanderani stated Lesaka supports the IPO and wishes Cell C well, explaining the rationale to exit is to simplify operations and reallocate capital to core strategies. Group CFO Dan Smith added that Lesaka's 5% stake would be diluted due to restructuring but a minimum value of ZAR 50 million is secured, with upside potential if the effective holding is worth more post-listing. Ali Mazanderani also commented that increased fintech interest in South Africa is representative and endorsing of Lesaka's strategy, viewing it as the beginning of ecosystem evolution.
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