The Competition Commission has officially recommended that Lesaka Technologies’ acquisition of Bank Zero be approved, clearing one of the final hurdles for the R1.1-billion deal.
Lesaka Technologies has secured approval from South Africa’s Competition Commission for its planned $64mn acquisition of Bank Zero, clearing the key merger-control hurdle in the transaction first announced in June 2025, the company said. Bank Zero shareholders will receive around 12% of Lesaka’s fully diluted shares and up to $5mn in cash once the deal closes.
The ruling moves Lesaka closer to gaining control of Bank Zero’s South African banking licence and digital banking infrastructure, enabling the fintech group to transition into a more integrated financial-services model. Lesaka said the agreement positions the combined business to broaden its product portfolio across consumer and merchant segments.
Bank Zero operates a fully digital, zero-fee banking model launched in 2021, and is part of a growing field of South African digital-banking entrants. The acquisition gives Lesaka an opportunity to embed a licensed banking core into its existing payments, acquiring and retail-financial services footprint.
Lesaka described the merger as a step that could support scale efficiencies and expand revenue streams, but said detailed integration plans will follow once remaining regulatory processes are completed. Forward-looking statements have not yet been accompanied by a published rollout schedule or operational milestones.
Source: MarketScreener
