Lesaka Technologies has extended the long-stop date for its R1.1-billion acquisition of Bank Zero by nearly six months, to 31 January 2027, as the dual-listed fintech waits on the last of the regulatory consents needed to close the transaction.
In a filing, Lesaka said it agreed with the sellers on 11 June to move the deadline from 6 August 2026 to the end of January next year “while the remaining outstanding regulatory consents are being procured”. If the conditions precedent are not met or waived by that date, the implementation agreement lapses.
The extension is the clearest sign yet that the deal is taking longer to complete than the parties hoped when Lesaka announced the acquisition in June 2025. At the time, Bank Zero chairman and former FNB CEO Michael Jordaan acknowledged there were a large number of regulatory approvals still needed.
Approvals
The competition leg of those approvals is done. The Competition Tribunal approved the transaction without conditions in late November, after the Competition Commission recommended it be allowed to proceed. That leaves the banking-specific consents.
Lesaka has continued to fold its acquisitions into a single platform, and in February said the Bank Zero deal was nearing completion as part of a wider move to consolidate its fintech businesses under one brand.
Under the terms of the deal, Bank Zero shareholders will receive about 12% of Lesaka in newly issued shares plus up to R91-million in cash. Jordaan is set to join the Lesaka board, while co-founder Yatin Narsai stays on as Bank Zero CEO. — © 2026 NewsCentral Media