BN Edge | Can Lesaka do to SA's big banks what fintech did in Brazil?

The company once known as Net1 has just posted its first full-year profit and is telling the market to expect adjusted earnings to compound at more than 40% a year. Executive chairman Ali Mazanderani, who says he has helped build seven multibillion-dollar fintechs from Brazil to Europe, told Alec Hogg why he believes South Africa's big banks are structurally unable to win the township economy, and why local capital has been too cautious to back the challengers. He also set out what the pending Bank Zero deal would do to Lesaka's debt, why nine in ten South African merchants still don't take card payments, and why he accepted a pay deal that only works if the share price does.