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Viwe Kupiso

Research Analyst at Morgan Stanley

Viwe Kupiso is an Equity Analyst at RMB Morgan Stanley specializing in South African equities, with a focus on companies in sectors including digital financial services. Kupiso covers firms such as Lesaka Technologies and has engaged with C-suite executives to probe risk and performance in earnings calls, demonstrating a rigorous analytical approach. Kupiso plays a key part in a team that has contributed to RMB Morgan Stanley’s consistent top-three ranking in the FM Top Analysts Survey, reflecting a strong market reputation. While specific credentials and licensing details are not publicly disclosed, Kupiso is recognized for industry expertise and performance within a leading sell-side research outfit.

Viwe Kupiso's questions to LESAKA TECHNOLOGIES (LSAK) leadership

Question · Q4 2025

Viwe Kupiso questioned the main risks to achieving greater than 100% EPS growth and positive net income in FY2026, particularly given the macroeconomic environment, and asked about current trends in credit quality and loss rates for both consumer and merchant lending books, seeking any early warning signs of stress.

Answer

Ali Mazanderani (Executive Chairman, Lesaka technologies) stated Lesaka is not a proxy for the macro environment, benefiting from digitization tailwinds, and has consistently met profitability guidance for 12 consecutive quarters, expecting to exceed FY2026 targets. He noted risks from exogenous shocks or non-cash impairments. Lincoln Mali (CEO, Lesaka technologies) reported no stress in the consumer book, maintaining a loan loss ratio below 6% despite product changes. Steven Heilbron (CEO, Connect Group South Africa) indicated merchant impairment ratios were consistent at about 1.4% of originated debt, with a slight improvement, and no current issues with impairments.

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