Financial Data and Key Metrics Changes - Net revenue for Q2 reached ZAR 1.6 billion, a 16% year-on-year increase [13] - Group-adjusted EBITDA grew 47% year-on-year to ZAR 304 million [10][13] - Adjusted earnings per share increased more than sixfold to ZAR 1.34 [14][18] - Leverage ratio stands at 2.5 times, down from 2.9 times at year-end [14] Business Line Data and Key Metrics Changes - Merchant division net revenue decreased by 2% due to a refocus on high-potential clients and pricing pressure [15] - Consumer division net revenue rose 38% year-on-year to ZAR 567 million, marking a record performance [15] - Enterprise division net revenue increased by 67% year-on-year to ZAR 217 million [15] Market Data and Key Metrics Changes - Active merchants increased by 8% year-on-year to over 130,000 [24] - Consumer active base exceeded 2 million customers, a 21% increase over last year [31] - Total ADP TPV reached ZAR 11.9 billion, representing 18% year-on-year growth [38] Company Strategy and Development Direction - The company aims to build a leading independent fintech in Southern Africa, consolidating brands under "One Lesaka" [3][4] - Focus on integrating operations and enhancing distribution capabilities to reach underserved markets [9][10] - Plans to leverage the Bank Zero acquisition for funding and balance sheet benefits [14][41] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth, particularly in the consumer division driven by lending activities [17][33] - The company anticipates a flat growth profile for the merchant division for the rest of the fiscal year, with a return to growth expected in FY27 [16] - Management highlighted the importance of innovation and distribution in driving future performance [9][10] Other Important Information - The company exited its Cell C stake, receiving ZAR 50 million, and released ZAR 65 million from a legacy contract [10] - The company employs approximately 3,750 people across Southern Africa [8] Q&A Session Summary Question: Is the increase in transaction fees an annual event? - Yes, transaction fees are reviewed annually, and the company is gaining market share from competitors [43][44] Question: What is the outlook for lending growth? - The company expects continued growth in lending, particularly with the new medium-term loan product [48][49] Question: What are the expected marketing costs related to the rebranding? - Estimated marketing costs for the next two quarters are between ZAR 50 million and ZAR 75 million [50]