Nasdaq- and JSE-listed Lesaka Technologies’ subsidiaries Kazang and Connect were recognised as fintech innovators in South Africa’s bustling fintech universe at the recent Absa Commercial Payments Awards 2025. Cash Connect won the “Most Progressive Device Cash Solutions Provider” category, with Kazang winning the “Most Disruptive Fintech Shaping Financial Inclusion Vision”.
Steven Heilbron, head of M&A and corporate development at Lesaka, said: “We have always seen ourselves as innovators and disruptors with our holistic merchant solutions in both cash and digital, and to be recognised as such in both formal and informal market offerings is extremely encouraging.”
Lesaka offers Southern Africa’s underserved merchants holistic solutions to help solve everyday pain points when doing business, paying for goods and transacting with customers. With Kazang, Adumo, Connect and GAAP brands in its stable, Lesaka’s fintech solutions cover card and cash acquiring, lending, alternative digital payments, software solutions and data analytics. Lesaka is unique in its ability to offer this holistic solution set to all merchants, from informal traders and spaza shops through to large national retailers.
Cash Connect’s solutions include both cash vaults and ATM recyclers, offering choice and ensuring merchants can select a solution tailored to their cash handling needs. The cash vaults and EasyPay Cash ATM recyclers bring world-class technology to businesses, offering secure, efficient and intelligent automated cash-handling solutions that enhance security, streamline operations and give merchants greater control over their cash flow. Both solutions digitise cash immediately, making it available for business purposes.
Three in one
EasyPay Cash ATM recyclers bring three-in-one functionality, serving as a secure drop safe, a recycler and a dispenser, allowing merchants to deposit bulk cashier takings while enabling customers to withdraw cash in-store. The recyclers are the first and only to offer biometric authentication ensuring a secure and efficient “cash and dash” experience for merchants and cashiers, and at the same time reduce the cash-in-transit (CIT) and cash handling fees. In addition, merchants receive a rebate on each successful card withdrawal, boosting turnover.
Cash Connect’s devices are made by South Africans, for South African businesses. Locally manufactured cash vaults, built to SABS Cat 4 standards, are designed with South Africa’s risk environments in mind, helping to ensure resilience in high-crime areas. The offering is trusted by retailers and financial institutions, proving our technology’s effectiveness in high-volume trading environments.
Cash Connect has a proven track record, backing its place as an approved cash service provider to many blue-chip companies including Spar, Shell, Engen, Pick n Pay and OK, since 2006.
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The Kazang award for “Most Disruptive Fintech Shaping Financial Inclusion Vision” follows last year’s Kazang Pay card acceptance solution win for “Most Disruptive Fintech in the Informal Economy”.
The award recognises fintech companies that are revolutionising access to financial services for unbanked and underbanked populations. The goal was to identify fintechs with solutions that help to expand financial inclusion for populations in remote and underserved areas.
One of the key reasons Absa’s judges chose Kazang is based on how its solutions remove cash from the informal ecosystem to improve safety and efficiency for suppliers, traders and customers. The award acknowledges the immense market impact of Kazang’s products and solutions in reducing the costs and risks of cash for informal merchants.
Jonathan Thomson, executive head for commercial at Kazang, said, “With around R72 billion in throughput across more than 90 000 merchants, Kazang is building a holistic ecosystem tailored to the needs of township merchants. It’s our goal to make it easy, affordable and rewarding for merchants to transact with and add value for their customers.”
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“Helping micro-merchants to digitalise and derisk cash payments is one of the most important ways we can enable them to drive down costs and improve efficiencies. We see an enormous opportunity to leverage our technology to help informal and micro businesses reduce their exposure to cash while capitalising on opportunities to grow,” added Thompson.
Lesaka is on a journey to build a holistic multiproduct platform for merchants and consumers, helping to drive the digitisation of commerce across Southern Africa. It continues to demonstrate an ability to match Southern Africa’s merchants’ requirements with its technology and offerings. Consistent investment in and enhancements to its fintech platform will ensure Lesaka continues to play a role as the leading independent fintech in Southern Africa.
Thank you to Absa for these recognitions.
About Lesaka Technologies
Lesaka Technologies is a South African fintech company driven by a purpose to provide financial services and software to Southern Africa’s underserviced consumers and merchants. We offer an integrated and holistic multiproduct platform that provides transactional accounts, lending, insurance, payouts, merchant acquiring, cash management, software and Alternative Digital Payments. By providing a full-service fintech platform in our connected ecosystem, we facilitate the digitization of commerce in our markets. Lesaka has a primary listing on Nasdaq (Nasdaq:LSAK) and a secondary listing on the JSE (JSE: LSK).
About Connect Group
The Connect Group of companies provides merchants with financial technology solutions that connect them to cash, capital, card and prepaid value-added products and services. Our purpose and passion is to enable our clients to grow and maximise their business potential.
About Kazang
Kazang is a leading provider of cash and digital solutions to merchants in Southern Africa’s informal economies. Our fintech solutions include a diverse range of value-added services, card acquiring, secure cash vaults and supplier payments platforms.
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