SA Start-Up Net1 Adopts A New Brand And Identity South African payments startup Net1 has announced that it is adopting a new brand and identity, the company is officially cahninging is name to Lesaka Technologies.
As the company embarked on creating a world class financial technology platform and repositioning itself for growth, it became evident it required a new identity that would resonate with its customers and employees. It was important for the new identity to authentically express its commitment to the local communities it serves and its ambition to drive financial inclusion by giving ordinary people and small businesses access to essential financial services.
The company explained how it came about with the name Lesaka, it said on its website, “For thousands of years livestock have been seen as a symbol of security, community and wealth and protecting one’s livestock was central to preserving the dignity and pride of a community. To ensure the best possible protection, an enclosure commonly known as a “kraal” in South Africa, was built in the center of the community. A kraal is seen as the social and economic heart of a village and only the most reliable people are entrusted with its care and protection. The word Lesaka means Kraal in Setswana and Sesotho, two of South Africa’s official languages, and it was agreed by our shareholders that the existing company name Net1, should change to Lesaka, which aptly represents our new group and its vision.”
The company is on a mission to build and protect the financial wellbeing of its communities and its intention is to protect the vulnerable and underserved, by providing widespread access to essential financial services. Changing its name will mean that its tickers will change to LSAK on the NasdaqGS and LSK on the JSE, effective May 18, 2022.