South Africa has seen the approval of two significant technology-sector transactions, underscoring continued consolidation in fintech and digital infrastructure.
This, after the Competition Tribunal yesterday conditionally approved a merger in which Lesaka will acquire Bank Zero.
Vodacom also confirmed yesterday that the Independent Communications Authority of South Africa approved its proposed acquisition of a 30% stake in Maziv, the company that will house the fibre network assets of Community Investment Ventures Holdings, including Vumatel and Dark Fibre Africa.
In a statement, the Competition Tribunal says all conditions precedent for the Vodacom-Maziv deal have been met, and the transaction is set for implementation on 1 December, marking one of the largest fibre-infrastructure deals in the country.
Lesaka, the Nasdaq- and JSE-listed parent company, provides financial technology services to underserved consumers and small businesses.
In South Africa, Lesaka offers low-cost financial products, including insurance, micro-loans and payment processing, although it does not hold a banking licence. Through a partnership with African Bank, it provides basic transactional accounts under its EasyPay Everywhere (EPE) service.
Zero Research is the controlling shareholder of Bank Zero, a digital bank founded in 2018 that provides retail and commercial banking services and is able to hold deposits for EPE customers – a feature relevant to the merger’s rationale.
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