South Africa's Bank Zero, Lesaka to Combine in $61 Million Deal
South African digital lender Bank Zero Mutual Bank, founded by the former chief of one of the country's top lenders, is combining with a unit of fintech firm Lesaka Technologies Inc. in a 1.91 billion-rand ($61 million) deal.
Lesaka, which trades on both the Nasdaq and Johannesburg bourses, will buy all of the lender founded and chaired by Michael Jordaan, the former chief executive officer of FirstRand Ltd.'s First National Bank unit, pending regulatory approvals, the companies said in a statement Thursday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News24
35 minutes ago
- News24
Fly away, Dick Foxton; your work is done
When someone passes away, there is a line that gets trotted out during tributes that it has largely lost meaning: 'He/she touched a lot of lives.' Then there are those times when it actually means exactly that. And more. This was the case with Richard Foxton, more commonly known as Dick or by the fun nickname Foxy. Foxton passed away at the weekend at the age of 82 after a life lived to the full. A veteran media man, he managed Newsweek's operations for nearly a decade during the early days of African independence. He shuttled between his beloved Nairobi and Johannesburg, the city he would later learn to love more than any other. Although born in India, he spent his formative youth years in Kenya, a period about which he had warm memories. Moving to South Africa in 1971, he joined the famed Group Editors, a public relations firm made up of some of Johannesburg's newsroom veterans. It grew to be one of the country's most influential communications companies, boasting blue chip clients who wanted the brains and experience housed under that roof. Ever the consummate networker, he was ready to branch off on his own by 1981 and launched Foxton Communicating. This lowly newspaperman often reminded him that the reason the business became so successful was that it was started in the year the great Tottenham Hotspur won the 100th edition of the FA Cup in a classic victory over Manchester City. It was in this role as the founder and head of Foxton Communicating that Foxton's larger-than-life persona became legendary. The business model was innovative. He represented chairmen (yes, that's what they were called), CEOs and most of the deputy CEOs as well. The uniqueness of the model was that he would connect the company leadership directly to editors so that they could get a picture of the state of play first-hand. Over long, liquid lunches, editors would also share their perspectives on how they saw the respective companies. At results time or when a crisis hit, a direct line had been established. Moreover, the editors had a better understanding of the headwinds and undercurrents affecting the business climate. But there was an added benefit for the CEOs: they were interacting with individuals who had the pulse of the nation and could get insights that would be useful in their strategic planning and in future interactions with government policymakers and decision-makers. Everybody was the winner: the editors and industry leaders got inside each other's heads and the facilitator obviously got his cheques. But, for Foxton, it was not just about a payday. He genuinely enjoyed connecting people and relished the conversations he was privy to, and he appreciated it even more when they were no longer dependent on him. His connections extended to the political sphere, stretching to the highest offices in the land, where he proffered his services and advice on a pro bono basis. His generous pro bono work also extended to causes he believed in, touching the lives of many. But it wasn't just his work that made Foxton the person who filled up the room with his personality; it was the gregarious, humorous raconteur in him that made him irresistible company. In a tribute to him in Business Day this week, the newspaper's former editor Peter Bruce fondly recalled that 'he was a fabulous name-dropper and he had really been around'. And around he certainly had been. If you have lived the life that he lived, you can be given a free pass on that so nobody begrudged the stories, which were often on repeat and delivered with such panache. Many were serious stories, some were cautionary tales and several were hilarious takes. The 'name-dropping' consisted of encounters with heads of state, ministers, sporting legends, religious leaders and corporate titans. Not many of us can regale others with stories from dinners, lunches or just audiences with figures as diverse as Nelson Mandela, Margaret Thatcher, Mother Teresa, FW de Klerk, George Matanzima, Harry Oppenheimer, Donald Bradman, Middle East royalty and global music stars. There would be jokes galore, also often told on repeat. But each time they were told, it would be just as funny as the first time. The liquids would flow forever, with Foxton encouraging willing and reluctant participants to have another, another and yet another. He colourfully encouraged his lunch partners to 'drink like monks at the end of Lent' or to 'drink like there's an army of bloodthirsty terrorists marching up the road'. Foxton would always talk about his children and grandchildren, and made a point of keeping up to date about yours. Close friend Khulu Mbatha wrote in City Press this week how he had always had stories about Lelo 3, Lelo 4 and Lelo 5. This was in reference to a little grandchild who updated her name according to her age. As anyone who interacted with Foxton would attest, no conversation would be complete without an ode to Thuli Madonsela, his life partner and absolute love of his life. To the rest of the world, she was the courageous former public protector and social justice activist, but, to Foxton, she was the summer rain that made his life verdant. Foxton never held high office in the public or private sector, but the life he lived had much impact on South African society. Most importantly, however, he was just a blerry nice guy. As we bid goodbye to this amazing South African, it is worth sending him off with the words of Bob Marley and the Wailers' song Rastaman Chant. 'One bright morning when my work is over Man will fly away home One bright morning when my work is over Man will fly away home Say one bright morning when my work is over Man will fly away home.' Your work is over now, Dick. You may fly away home to that sweet place called Paradise.
Associated Press
an hour ago
- Associated Press
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates MRC, TSBX, DNOW on Behalf of Shareholders
NEW YORK, June 27, 2025 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: MRC Global Inc. (NYSE: MRC)'s sale to DNOW Inc. for 0.9489 shares of DNOW common stock for each share of MRC common stock. If you are a MRC shareholder, click here to learn more about your legal rights and options. Turnstone Biologics Corp. (NASDAQ: TSBX)'s sale to XOMA Royalty Corporation for $0.34 in cash per share plus one non-transferable contingent value right. If you are a Turnstone shareholder, click here to learn more about your legal rights and options. DNOW Inc. (NYSE: DNOW)'s merger with MRC Global Inc. Upon completion of the proposed transaction, DNOW shareholders will own approximately 56.5% of the combined company on a fully diluted basis. If you are a DNOW shareholder, click here to learn more about your legal rights and options. Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected]. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Halper Sadeh LLC Daniel Sadeh, Esq. Zachary Halper, Esq. (212) 763-0060 [email protected] [email protected] View original content to download multimedia: SOURCE Halper Sadeh LLP
Associated Press
an hour ago
- Associated Press
BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: Carisma Therapeutics Inc. (Nasdaq - CARM), Guaranty Bancshares, Inc. (NYSE - GNTY), MRC Global Inc. (NYSE - MRC), Turnstone Biologics Corp. (Nasdaq - TSBX)
BALA CYNWYD, Pa., June 27, 2025 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky ( [email protected] ) or Marc Ackerman ( [email protected] ) at 855-576-4847. There is no cost or financial obligation to you. Carisma Therapeutics Inc. (Nasdaq - CARM) Under the terms of the Merger Agreement, Carisma will be acquired by OrthoCellix, Inc. (OrthoCellix), a wholly-owned subsidiary of Ocugen, Inc. (Nasdaq - OCGN). Upon the closing of the proposed transactions, existing Carisma stockholders are expected to own approximately 10% of the combined company. The investigation concerns whether the Carisma Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution to the Company's shareholders in the combined entity. Additional information can be found at Guaranty Bancshares, Inc. (NYSE - GNTY) Under the terms of the agreement, Guaranty will be acquired by Glacier Bancorp, Inc. ('Glacier') (NYSE - GBCI). Guaranty shareholders are to receive 1.0000 share of Glacier stock for each Guaranty share. Based on the closing price of $41.58 for Glacier shares on June 23, 2025, the transaction would result in aggregate consideration of $476.2 million and value of $41.58 per Guaranty share. The investigation concerns whether the Guaranty Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal provides fair value to the Company's shareholders. Additional information can be found at MRC Global Inc. (NYSE - MRC) Under the terms of the Merger Agreement, MRC will be acquired by DNOW Inc. ('DNOW') (NYSE - DNOW). MRC shareholders will receive 0.9489 shares of DNOW common stock for each share of MRC common stock. Upon completion of the transaction, DNOW and MRC shareholders will respectively own approximately 56.5% and approximately 43.5% of the combined company on a fully diluted basis. The investigation concerns whether the MRC Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution to the Company's shareholders in the combined entity. Additional information can be found at Turnstone Biologics Corp. (Nasdaq - TSBX) Under the terms of the agreement, Turnstone will be acquired by XOMA Royalty Corporation ('XOMA Royalty') (Nasdaq - XOMA) for $0.34 in cash per share of Turnstone common stock plus one non-transferable contingent value right ('CVR'). The investigation concerns whether the Turnstone Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration provides fair value to the Company's shareholders. Additional information can be found at Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
