Good agenda, provide then morning, welcome for have. update Taking Steve before Q&A, we results provide the Lesaka, at performance XXXX first ended then quarter of you look XXXX business up a Consumer any three the the present brief update outlook with quick I welcome Lincoln conference conclude questions may financial business, our today's first on webcast our months will the quarter XX, and details open an and will Naeem business. earnings will will presentation of highlights will we for for September with XXXX. provide will call. start and performance the our to overview. an on a I and our merchant
marks imperatives revenue And performance, QX pleased first to profitability. execution that First, FY into and of Group. Lesaka strategic as report solid has growth the me including our let on I'm strong incorporating the translated Connect financial that start say improved quarter our full XXXX
we and continue are objectives, so. our on delivering doing to well are We positioned
which expanded continues end-to-end benefits two performance fills transformative of offering fiscal expectations with remain This underpins and product have the merchant of our ecosystem business expectations. businesses reach Group, turnaround complementary strong our the and through together financial brings very mission. Connect our the fundamentals a improved Connect growth Lesaka’s Connect standalone our organic sets. business in On breakeven the the initial been the Connect basis, intact. of on has synergistic EBITDA gaps We deliver underlying pre-existing track monthly businesses remains underpin second that that The and offering the MSME story. and to a customer encouraging to completes significantly and that Integrating during quarter to merchant is exceeded consumer the the perform acquisition adjusted continues of XXXX. and a ahead
merchant positioned scale such, grow opportunities are target benefit dual-sided As and from time, our the by at a consumer created and in synergies ecosystem. and to businesses the both same markets, very respective well while their
structure. our and to Turning capital funding
plans of us the consumer greater real deliver progress evidence turnaround medium to facility Connect and and our the place, this flexibility, term. we took this in final will acquisition, And a XXXX. liquidity that we bring of for of over X.X stages made and market the have are three-year April maturing the our We once ongoing growth business billion, on a to that in the the on increase conversion pleased guidance Connect of into strong loan provides part I'm of of as highlighted agreeing the bridge in performance sufficient capacity that update the Group. term of a in previously ZAR And facility
of clarity repositioning was and first are the we know, made illustrates the earnings early transformation further we've So for time, progress it in provided forward for and of guidance a a the we This you since Lesaka. in as us, building bit milestone September, business. as the our
X.XXX in guidance for And ZAR billion are to 'XX Our range ZAR which X.X guidance. to FY billion, of able the pleased upper QX. report X.XXX exceeds of of was billion for revenue we be to to our the be ZAR end revenue
line. business at the consumer on distribution the in ability a account ZAR team's fundamental time, was to to our serve ZAR Segment to XX group revenues. XXX the And We million. we range million EBITDA XXX revenue XXX XXXX, of net segment is also XXX realized have at business, was growth performance, second with the And business quarter the of the XXXX. result reach the momentum focus base quarter, drivers in of primary of by of a the which with to driven for fiscal grew million of the grow for loss with savings testament a EBITDA the guided continuing. compared guidance in predominantly is volumes reported marginal the the for quarter a the by managing full Consumer the while million business together to loss on FY delivered the improved and significant revenue in remaining adjusted improvement Project quarter, base, Spring, the combination to to ZAR remaining Revenue Connect as there's in upper XXXX. XXX same ZAR by for reduced active a million and improved for evidencing intact. ZAR with the and Along rightsizing group Connect underpinning during transaction improved cost said, on loss This the model. quarter, a be provided and consumer of ZAR The the QX transformation quarter, I consumer client remains deliver ZAR as in X% track of segment adjusted continued XXXX. the profitability inclusion for and positive of breakeven XXX growth QX it improvement million The in in end EBITDA turnaround, the to driven Group QX consumer our of this adjusted a million the of
We of And strategic intend briefly detailed I presentations. only therefore, last overview on in of today. have to previously each the this Lesaka a touch three provided result
people's to bringing strive As improve to financial the to lives South inclusion financial consumers small Lesaka, access by helping need businesses we Africa's by services underserved they and prosper.
in older post money And that South airtime levels low, the of South Africans And where business, digitize taken are style we And base the are relatively costs from need a deep challenges financial all although We financial The as means in Africa, account, this manage growing phones. market. in easily stem alternatives literacy customer the understanding financial merchants there so a treat their with out, pointed feature delivering to consumer challenge and driven still together, connectivity and may to Africans constantly they cash in enabling our challenges large African and are is innovating previously real our data grow, expensive adding high by their as them one remains their commodities. and over daily in many country South lack bank distressed boxes help transaction. this access many prior use money to lives. services are have and South their XX% which low and to of and in a while of relatively inclusion digitization of penetration smartphone
multiple these offers is and large shown well-placed is solving meet is And deliver our levers have market those we our that addressable for issues very it and and expansion. customers mission Lesaka's for to Lesaka challenges our customers. for
division. shop platform markets in in their together in approximately along estimate serves in with and target typically approximately million there stores. the XXX and X.X with merchants formal XXX,XXX merchants the would million approximately XX we And Our micro consumers markets addressable who to our who informal target be form our consumers LSMs merchants small the Consumer
consumers strategy often is are And where this to customers. the South and ecosystem of build Our presence and Africa of our points the convenient for that townships accessible in rural our our creating areas means are.
kiosks, merchant benefiting as from also grow markets we and target to is their And points, self-reinforcing there respective in in merchant same scope by businesses Lesaka's opportunities tremendous are ATMs, offers proposition. satellite in have an synergies approximately the platform model retailer devices. building Lesaka believe consumer in of value our reach As their and The XX,XXX time, such paid market. scale at the created of business and own broader part of ecosystem over disclosed This form both we right, to for and previously. growth dual-sided the presence while the XX,XXX points we compares and underpenetrated branches, and
through to investors investor have As allowing host post-COVID been open the a Lesaka and our platform has our of in again, that up to started offering. and fortunate to become understood. One times these recent consumer of be is that we travel seems in experience showcasing sector potential visits our and number to gain has offering growth first-hand visits well the thing merchant formal evident
be it seeing to growth the them together However, offering need and conceptualize of the spend more as and of informal opportunity the it base presentation. as our that sector is scale a useful our invaluable And and time to size therein with at often country. sector little financial leading for such, allows is investor looking part the to informal inclusion I today's the thought in would our
informal imperfect, sector total estimates while are economy well is Africa above We is and of informal continues ZARXXX cash-based. South the transactions South that information the it Africa's So, in to and of XX% estimate highly grow. are billion GDP is cash-driven
of of South fresh are the sold Africa's also over that that XX% We Anecdotal in based. approximately economy informal vegetables informal transactions is fruit evidence South XX% Africa estimate are and in economy. cash in
financial is shift financial on update in informal serving it provide providing across secular of needs place ability the the an platform market. digital inclusion digitize well merchant efficiently progress And facilitating positions like digitization is that integration of our deliver cash Connect is and through that to turn with our of over size Steve inclusion well that the that a so to economy full-service the I'd necessitates nature as of both, the so also last South mile on it And made fintech to Africa's as highly And and cash-driven to on informal business while and mission. the the evident currently us it to digital Group. taking to the
