JSE-listed and Nasdaq-listed Lesaka Technologies has announced big changes at executive and board level.

The fintech group told shareholders on Friday that the changes to the executive leadership team are aimed at aligning its leadership with the company’s ambitious growth targets.

In a statement, Lesaka said its current group chief financial officer, Naaem Kola – who has held the position since March 2022 – will become chief operating officer.

“Naeem is exceptionally well placed to drive strategic and operational synergies for the group, with his extensive financial and operational experience in international fintech and his understanding of Lesaka’s transformation,” Lesaka said.

The CFO role will be taken over by Dan Smith, who will also join the Lesaka board of directors. Smith is a chartered accountant with experience in various roles within the financial services sectors in South Africa and the UK. Among his most prominent positions is his heading of the mergers and acquisitions investment banking team at Standard Bank South Africa.

Non-executive director Javed Hamid has resigned, while Chris Meyer, a non-executive director and former group CEO, will resign from the board with effect from 1 October. The resignation of non-executive director Monde Nkosi is expected in October, pending the completion of Lesaka’s acquisition of Adumo.

Adumo transaction

Dean Sparrow, group CEO of Crossfin Technology Holdings, will be appointed to the board as non-executive director once the Adumo transaction has been concluded.

“As Lesaka scales, we will continue to augment our executive capability to deliver on the opportunity in front of us. Dan Smith is an exceptional addition to the team and has been intimately involved in the transformation of the business over the last few years. I am excited to be working with both him and Naeem in their new roles,” said Lesaka executive chairman Ali Mazanderani in the statement to shareholders. – © 2024 NewsCentral Media