Description Of Business And Basis Of Presentation	12 Months Ended
Jun. 30, 2024
Description Of Business And Basis Of Presentation [Abstract]
Description Of Business And Basis Of Presentation	1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of Business Lesaka Technologies, Inc. (“Lesaka” and collectively with its consolidated subsidiaries, the “Company”), formerly named Net 1 UEPS Technologies, Inc., was incorporated in the State of Florida on May 8, 1997. The Company is a provider of financial technology, or fintech, products and services, primarily in South Africa and neighboring countries, to unbanked and underbanked consumers, and fintech solutions for merchants operating in formal and informal markets. The Company provides cash management and digitization services and card acquiring to merchants, and has developed and provides secure transaction technology solutions and services, and offers transaction processing, including bill payment and value-added services (including prepaid airtime and electricity products) and financial solutions to its customers. Basis of presentation The accompanying consolidated financial statements include subsidiaries over which Lesaka exercises control and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Reorganization charge - financial services restructuring during the year ended June 30, 2022 The Company has incurred significant losses since its contract to distribute social grants expired in September 2018. A strategic imperative for the Company was to return its South African consumer business to a breakeven position and then profitability as soon as possible. As part of a cost optimization review completed in late calendar 2021, the Company performed a review of its labor structure and determined that a number of its defined employee roles would need to be terminated due to redundancy. The Company embarked on a retrenchment process pursuant to Section 189A of the South African Labour Relations Act (“Labour Act”) on January 10, 2022. The Company incurred cash costs of approximately $ 6.7 million (ZAR 103.4 million) during the third quarter of fiscal 2022, principally consisting of severance and related payments and the payment of unutilized leave days. The Company recorded an expense of $ 5.9 million in the caption reorganization costs in the Company’s consolidated statement of operations for the year ended June 30, 2022. The primary difference between the reorganization charge amount and the total cash paid relates to leave pay which was accrued in prior periods. July 2021 civil unrest in South Africa impacting the year ended June 30, 2022 Two of South Africa’s nine provinces experienced significant civil unrest in July 2021 resulting in mass looting, loss of life, disruption of transport and supply routes, and widespread destruction of property. In total 337 South Africans lost their lives in the unrest – fortunately none of the Company’s employees were injured or harmed. There was widespread damage to bank and ATM infrastructure in the affected provinces. In total approximately 1,800 ATMs and 300 branches were damaged across the industry, and the Banking Association of South Africa (“BASA”), estimates that total damage to banking infrastructure amounted to ZAR 1.6 billion. The South African Special Risks Insurance Association (“SASRIA”), a public enterprise and a non-life insurance company that provides coverage for damage caused by special risks such as politically motivated malicious acts, riots, strikes, terrorism and public disorders, estimates that the total damage to property across South Africa will be between ZAR 19.0 billion and ZAR 20.0 billion. The Company suffered damage at 19 of its branches and to 173 ATMs. The disruption and related closure of branches also impacted the Company’s efforts to grow EPE customer numbers. The Company also saw an impact on transaction volumes through its ATMs with July 2021 volumes 13 % lower than June 2021, and August 2021 3 % lower than July 2021. The Company’s insurance claims to recover the cost to repair and replace its branches and ATMs have been met in full, with the Company receiving ZAR 38.6 million from SASRIA during the year ended June 30, 2022. As a result of the disruption to ATM coverage and availability, BASA and the South Africa’s banks agreed that the fee which customers pay to utilize other banks’ ATMs would be waived for August and September 2021. The Company lost transaction fee revenue of approximately ZAR 6.0 million ($ 0.4 million) during the year ended June 30, 2022, as a result of this decision.

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

Description of Business

Lesaka Technologies, Inc. (“Lesaka” and collectively

with its consolidated subsidiaries, the “Company”), formerly named Net 1

UEPS Technologies, Inc., was incorporated in

the State of

Florida on May

8, 1997. The

Company is a

provider of financial technology,

or fintech, products and services, primarily in South Africa and neighboring

countries,

to unbanked and underbanked consumers, and

fintech solutions for

merchants operating in formal

and informal markets.

The Company provides

cash management and digitization

services and

card acquiring to

merchants,

and has developed

and provides secure

transaction technology

solutions and services,

and

offers transaction processing, including bill payment and value-added services (including prepaid

airtime and electricity products) and

financial solutions to its customers.

Basis of presentation

The accompanying

consolidated financial

statements include

subsidiaries over

which Lesaka

exercises control

and have

been

prepared in accordance with accounting principles generally accepted

in the United States of America (“GAAP”).

Reorganization charge - financial services restructuring

during the year ended June 30, 2022

The Company has incurred significant losses since its contract to distribute social grants expired in September 2018. A strategic

imperative for the Company was to

return its South African consumer

business to a breakeven position and

then profitability as soon

as possible.

As part

cost

optimization

review

completed

late

calendar

2021,

the Company

performed

review

its labor

structure and determined that

a number of its defined

employee roles would need to

be terminated due to redundancy.

The Company

embarked on a retrenchment process pursuant to Section 189A of the South African Labour Relations Act (“Labour Act”) on January

10, 2022. The Company incurred

cash costs of approximately $

6.7

million (ZAR

103.4

million) during the third quarter

of fiscal 2022,

principally consisting of severance and related

payments and the payment of

unutilized leave days. The Company

recorded an expense

of $

5.9

million in the caption reorganization costs in the Company’s

consolidated statement of operations for the year ended June 30,

2022. The primary difference between the

reorganization charge amount and the total

cash paid relates to

leave pay which was

accrued

in prior periods.

July 2021 civil unrest in South Africa impacting

the year ended June 30, 2022

Two

of South

Africa’s

nine provinces

experienced significant

civil unrest

in July

2021 resulting

in mass

looting, loss

of life,

disruption of

transport and

supply routes,

and widespread

destruction of

property.

In total

337 South

Africans lost

their lives

in the

unrest

– fortunately

none of

the Company’s

employees were

injured or

harmed. There

was widespread

damage to

bank and

ATM

infrastructure in the affected provinces. In

total approximately 1,800 ATMs

and 300 branches were damaged across the industry,

and

the Banking Association

of South

Africa (“BASA”), estimates

that total

damage to banking

infrastructure amounted to

ZAR 1.6

billion.

The

South

African

Special

Risks

Insurance

Association

(“SASRIA”),

public

enterprise

and

non-life

insurance

company

that

provides coverage for damage caused

by special risks such as politically

motivated malicious acts, riots, strikes,

terrorism and public

disorders, estimates that the total damage to property

across South Africa will be between

ZAR 19.0 billion and ZAR 20.0

billion. The

Company suffered

damage at

of its branches

and to

173

ATMs.

The disruption and

related closure of

branches also impacted

the

Company’s efforts to grow EPE customer numbers.

The Company also saw an impact on transaction volumes through its ATMs

with

July 2021 volumes

% lower than June 2021, and August 2021

% lower than July 2021.

The Company’s insurance claims to recover the cost to repair and replace its branches and ATMs have been met in full, with the

Company receiving ZAR

38.6

million from SASRIA during the year ended June 30, 2022.

As a result

of the disruption

to ATM

coverage and

availability,

BASA and the

South Africa’s

banks agreed

that the fee

which

customers

pay

to utilize

other banks’

ATMs

would be

waived for

August and

September 2021.

The Company

lost transaction

fee

revenue of approximately ZAR

6.0

million ($

0.4

million) during the year ended June 30, 2022, as a result of this decision.