Document:

ex42

Exhibit 4.2 
DESCRIPTION OF THE REGISTRANT’S SECURITIES
REGISTERED PURSUANT TO SECTION 12 OF THE
SECURITIES EXCHANGE ACT OF 1934
As of September 
9, 2022, Lesaka Technologies, 
Inc. 
(“Lesaka” 
or the “Company”)
 
had one class of 
securities 
(“common stock”) 
registered under Section 12 of the Securities Exchange Act of 1934, 
as amended. 

 

DESCRIPTION OF COMMON STOCK 
 

The following 
description of 
the Company’s 
common stock 
is a 
summary and 
does not 
purport to 
be complete. 
It is 
subject to 
and 
qualified 
in 
its 
entirety 
by 
reference 
to 
the 
Company’s 
Amended 
and 
Restated 
Articles 
of 
Incorporation 
(“Articles 
of 
Incorporation”)
 
and its 
Amended 
and Restated By-laws 
(“Bylaws”)
, each of 
which are 
incorporated by 
reference as 
an exhibit 
to 
the Company’s 
most recent 
Annual Report 
on Form 10-K. Lesaka 
encourages you 
to read 
its Articles 
of Incorporation, 
Bylaws and 
the applicable provisions of the Florida Business Corporation Act
 
(“FBCA”)
 
for additional information. 
General
Lesaka’s Articles 
of Incorporation currently 
authorizes the issuance of two 
hundred million shares of 
its common stock, with 
$0.001 
par value. 
Lesaka’s 
common stock 
is listed 
and principally 
traded on 
the Nasdaq 
Stock Exchange, 
Global Select 
Market, under 
the 
symbol “LSAK.” Lesaka’s common 
stock is also listed on the Johannesburg Stock Exchange, under 
the symbol “LSK”. 
All outstanding shares of common stock are fully paid and nonassessable 
Dividend rights
Holders 
of 
shares 
of 
Lesaka’s 
common 
stock 
are 
entitled 
to 
receive 
dividends 
and 
other 
distributions 
when 
declared 
by 
Lesaka’s 
board of 
directors out 
of legally 
available funds. 
Payment of 
dividends and 
distributions is 
subject to 
certain restrictions 
under the 
FBCA, including the requirement 
that after making any 
distribution Lesaka must be 
able to meet its 
debts as they become 
due in the 
usual course of its business. 

Voting 
rights 
Each holder of common 
stock is entitled to one vote 
per share for the election 
of directors and for all other 
matters to be voted on 
by 
shareholders. Holders of common stock may not cumulate their votes in the election 
of directors. 
Liquidation and other rights 
Upon voluntary or 
involuntary liquidation, dissolution 
or winding up 
of Lesaka, holders of 
common stock share 
ratably in the assets 
remaining 
after payments 
to creditors 
and 
provision 
for the 
preference 
of any 
preferred stock 
according 
to its 
terms. There 
are no 
pre-emptive 
or 
other 
subscription 
rights, 
conversion 
rights 
or 
redemption 
or 
scheduled 
installment 
payment 
provisions 
relating 
to 
shares of common stock. The shares of Lesaka common stock are 
not subject to redemption. 
Transfer Agent 
The Company’s 
transfer agent in the 
United States is Computershare 
Shareowner Services LLC, 
480 Washington 
Blvd, Jersey City, 
New Jersey, 07310, and 
the Company’s transfer agent 
in South Africa is JSE Investor Services South Africa (Pty) Ltd.ex104

Exhibit 14 
LESAKA TECHNOLOGIES, 
INC. 
CODE OF ETHICS 

 

 

CONTENTS 
CONTENTS............................................................................................................................................. 
2
1.
EXECUTIVE SUMMARY .............................................................................................................. 
3
1.1.
INTRODUCTION 
................................................................................................................... 
3
2.
COMPLIANCE, WAIVERS OR AMENDMENTS .......................................................................... 
4
2.1.
COMPLIANCE WITH THIS CODE ....................................................................................... 
4
2.2.
WAIVERS OF OR AMENDMENTS TO 
THIS CODE 
............................................................ 
4
3.
COMPLIANCE WITH LAWS, RULES 
AND REGULATIONS ....................................................... 
5
3.1.
FOREIGN CORRUPT PRACTICES ACT ............................................................................. 
5
3.2.
COPYRIGHTED OR LICENSED MATERIAL ....................................................................... 
6
3.3.
COMPETITIVE RELATIONSHIPS ........................................................................................ 
6
4.
CONFLICTS OF INTEREST 
......................................................................................................... 
7
4.1.
OUTSIDE ACTIVITIES, EMPLOYMENT AND DIRECTORSHIP ......................................... 
7
4.2.
RELATIONSHIPS 
WITH CLIENTS, CUSTOMERS AND SUPPLIERS 
................................ 
7
4.3.
GIFTS, HOSPITALITY 
AND FAVOURS ............................................................................... 
8
4.4.
PERSONAL INVESTMENTS 
................................................................................................ 
8
4.5.
INSIDER INFORMATION 
AND INSIDER TRADING 
............................................................ 
9
4.6.
REMUNERATION ................................................................................................................. 
9
5.
EMPLOYMENT 
EQUITY, 
ENVIRONMENTAL 
RESPONSIBILITY 
AND 
POLITICAL 
SUPPORT
10
5.1.
EMPLOYMENT EQUITY 
..................................................................................................... 
10
5.2.
HEALTH AND 
SAFETY ...................................................................................................... 
10
5.3.
ENVIRONMENTAL 
MANAGEMENT .................................................................................. 
10
5.4.
POLITICAL SUPPORT ....................................................................................................... 
10
6.
LESAKA’S FUNDS, 
PROPERTY AND RECORDS 
.................................................................... 
11
6.1.
FUNDS AND PROPERTY .................................................................................................. 
11
6.2.
RECORDS .......................................................................................................................... 
11
7.
EMPLOYMENT MATTERS 
........................................................................................................ 
12
7.1.
SUPERVISION OF RELATIVES 
AND OTHERS 
................................................................ 
12
7.2.
RESTRICTIONS ON FORMER GOVERNMENT EMPLOYEES ........................................ 
12
8.
DEALING WITH OUTSIDE PERSONS AND ORGANISATIONS 
.............................................. 
13
8.1.
PROMPT COMMUNICATIONS .......................................................................................... 
13
8.2.
MEDIA RELATIONS ........................................................................................................... 
13
9.
PRIVACY AND CONFIDENTIALITY 
.......................................................................................... 
14
9.1.
OBTAINING AND 
SAFEGUARDING INFORMATION 
....................................................... 
14
9.2.
ACCESS TO INFORMATION ............................................................................................. 
14
9.3.
TERMINATION OF 
EMPLOYMENT ................................................................................... 
14
9.4.
FORMER EMPLOYMENT .................................................................................................. 
14
10.
OBLIGATIONS OF 
EMPLOYEES .............................................................................................. 
15

 

 

 

 

 

 

11.
POLICY REVIEW 
........................................................................................................................ 
16
1. 
EXECUTIVE SUMMARY 
1.1. 
INTRODUCTION 
Lesaka Technologies, 
Inc. and its subsidiaries (hereinafter referred 
to as “Lesaka”) are committed to a 
policy of 
fairness and 
integrity in 
the conducting 
of their 
businesses. 
This commitment, 
endorsed by 
the Board of Directors 
of Lesaka (hereinafter 
referred to as 
the “Board”), is 
based on the 
fundamental 
belief 
that 
business 
should 
be 
conducted 
to 
the 
highest 
ethical 
standards 
of 
honesty, 
fairness 
and 
legality. 
This 
Code 
of 
Ethics 
(hereinafter 
referred 
to 
as 
this 
“Code”) 
is 
Lesaka’s 
promise 
that 
these 
ethical standards will form the basis for all endeavours of 
Lesaka. 
Lesaka has established this Code as 
part 
of 
its 
overall 
policies 
and 
procedures. 
To 
the 
extent 
that 
other 
Lesaka 
policies 
and 
procedures 
conflict with this Code, this Code will prevail. 

This 
Code 
will 
apply 
equally 
to 
all 
employees 
and 
other 
representatives 
of 
Lesaka. 
The 
term 
“employees” has been used in the broadest sense and includes: 

●
 
all staff with whom a service contract exists; 
●
 
management and non-management; 
●
 
directors; and 
●
 
contractors, consultants and temporary staff. 

This Code is designed to 
inform employees of policies 
in various areas. Therefore, 
Lesaka expects all 
employees, directors and other representatives to 
share its commitment to high 
moral, ethical and legal 
standards. 
The most 
current version 
of this 
Code will 
be distributed 
to all 
employees, posted 
and maintained 
on 
Lesaka’s website, 
and filed 
as an 
exhibit to 
Lesaka’s 
Annual Report 
on Form 
10-K. Lesaka’s 
Annual 
Report on Form 
10-K shall disclose 
that this Code 
is maintained on 
its website and shall 
disclose that 
substantive amendments and waivers will also be posted on 
Lesaka’s website.
Please study this Code carefully so that you understand Lesaka’s expectations and your 
obligations. 

 

 

2. 
COMPLIANCE, WAIVERS OR AMENDMENTS 

2.1. 
COMPLIANCE WITH THIS CODE 

Compliance 
with 
this 
Code 
by 
all 
employees 
is 
mandatory. 
If 
any 
employee 
becomes 
aware 
of, 
or 
suspects, a contravention 
of this Code, 
such employee 
must promptly and 
confidentially advise 
his or 
her 
line 
manager, 
the 
Human 
Resources 
Manager 
or 
a 
member 
of 
the 
Compliance 
Department 
(provided such person was not involved in the alleged 
violation). 

Lesaka’s efforts to ensure 
observance of, and adherence 
to, the goals 
and policies outlined in 
this Code 
mandate 
that 
you 
must 
promptly 
bring 
to 
the 
attention 
of 
your 
line 
manager, 
the 
Human 
Resources 
Manager or 
a member 
of the 
Compliance Department 
(provided such 
person was 
not involved 
in the 
alleged violation) 
any material 
transaction, relationship, 
act, failure 
to act, 
occurrence or 
practice that 
you believe, in 
good faith, is 
inconsistent with, in 
violation of, or 
reasonably could 
be expected to 
give 
rise to a violation of, this Code. 

The matter will be investigated and dealt with 
according to the Lesaka’s 
Whistleblowing Policy. 
Failure 
to report violations of this Code will itself be considered 
a serious violation of this Code. 

It is Lesaka’ 
s 
policy that 
no retaliation 
or other 
adverse action 
will be 
taken against 
any employee 
for 
good-faith reports of 
Code violations. 
Persons who discriminate, 
retaliate or harass 
may be subject 
to 
civil, criminal and administrative penalties, 
as well as disciplinary action, 
up to and including 
termination 
of employment for cause. 
Managers set 
an example 
for other 
employees 
and are 
often responsible 
for directing 
the actions 
of 
others. Every manager and 
supervisor is expected to 
take necessary actions to 
ensure compliance with 
this Code, to provide guidance 
and assist employees in 
resolving questions concerning 
this Code and 
to permit employees to express any concerns regarding 
compliance with this Code. 

No one has the authority to order another employee 
to act in a manner that is contrary to this 
Code. 
2.2. 
WAIVERS OF OR AMENDMENTS TO THIS CODE 

Any waivers 
of or 
amendments to 
this Code 
must be 
in writing 
and must 
be approved 
in advance 
by 
the Board. 

Waivers and 
amendments, and 
the reason 
therefore, shall 
be disclosed 
as required 
under applicable 
law and regulations. If 
employees are in doubt 
about the application 
of this Code, they 
should discuss 
the matter with their line manager, 
the Human Resources Manager, 
or the Compliance Department. 

 

 

3. 
COMPLIANCE WITH LAWS, RULES AND REGULATIONS 

Employees must comply with all applicable laws, 
rules and regulations which relate to 
their activities for 
and on behalf of Lesaka. 
Lesaka will not tolerate any 
violation of the law or unethical business 
dealing 
by any employee, including any payment for, 
or other participation in, an illegal act, such as bribery. 
Lesaka 
is 
committed 
to 
full 
compliance 
with 
the 
laws, 
rules 
and 
regulations 
of 
the 
cities, 
states 
and 
countries 
in 
which 
it 
operates. 
You 
must 
comply 
with 
all 
applicable 
laws, 
rules 
and 
regulations 
in 
performing your duties for Lesaka. 

Numerous 
federal, 
state 
and 
local 
laws, 
rules 
and 
regulations 
define 
and 
establish 
obligations 
with 
which Lesaka, 
its employees and agents must comply. 
Under certain circumstances, local country 
law 
may establish requirements that differ from this 
Code. 

You 
are expected to 
comply with all 
local country laws 
in conducting Lesaka’s 
business. If you violate 
these laws or 
regulations in performing 
your duties for 
Lesaka, you not 
only risk individual 
indictment, 
prosecution and penalties, 
as well as 
civil actions 
and penalties, 
but also subject 
Lesaka to the 
same 
risks and penalties. 

If you violate these laws in performing duties 
for Lesaka, you may be subject 
to immediate disciplinary 
action, including possible termination of your employment or 
affiliation with Lesaka. 

Employees must ensure that their conduct cannot 
be interpreted as being in any way in 
contravention of applicable laws, rules and regulations 
governing the operations of 
Lesaka
. 
3.1. 
FOREIGN CORRUPT PRACTICES ACT 
Lesaka employees 
are expressly 
prohibited from, 
directly or indirectly, 
offering payment, 
promising to 
pay, 
or 
authorizing 
the 
payment 
of 
any 
money, 
or 
offering 
any 
gift 
or 
non-monetary 
offer 
or 
benefit, 
promising to give 
a gift or 
non-monetary offer 
or benefit, or 
authorizing the 
giving of anything 
of value 
to any foreign official or any 
foreign political party, 
official of any foreign political party, 
or candidate for 
governmental or political office for purposes of: 
●
 
influencing any 
act or 
decision of 
that foreign 
official, 
political party 
or candidate 
in his/ 
her/ its 
official capacity; 
●
 
inducing that foreign official, candidate 
or political party to do or omit to do any act 
in violation of 
the lawful duty of that official, candidate or party, 
or 
●
 
securing any improper advantage; or 
●
 
inducing that foreign official, candidate 
or political party to 
use his/ her/ its 
influence with a foreign 
government 
or 
instrumentality 
to 
affect 
or 
influence 
any 
act 
or 
decision 
of 
that 
government 
or 
instrumentality, in order to assist Lesaka or its employee 
in obtaining or retaining business for or 
with, or directing business to, Lesaka. 
Various 
countries 
also 
have 
laws 
that 
prohibit 
commercial 
bribery. 
Accordingly, 
these 
laws 
are 
not 
limited in scope 
to bribery of foreign 
officials and typically prohibit bribes 
or inducements to an 
individual 
or business to improperly influence decision-making. 

As such, it is Lesaka’s policy that nothing of value should 
be provided to any person for the purpose of 
improperly 
obtaining 
or 
retaining 
business 
or 
otherwise 
gaining 
an 
improper 
business 
advantage. 

Violations of this policy are 
taken very seriously, 
as they can subject both Lesaka 
and the individual to 
criminal and civil penalties, up to and including imprisonment. 

3.2. 
COPYRIGHTED OR LICENSED MATERIAL 

It is both 
illegal and unethical to 
engage in practices that 
violate copyright laws or 
licensing agreements. 

Lesaka 
requires 
that 
all 
employees 
respect 
the 
rights 
conferred 
by 
such 
laws 
and 
agreements 
and 
refrain 
from 
making 
unauthorized 
copies 
of 
protected 
materials, 
including 
but 
not 
limited 
to 
printed 
matter, musical recordings, and computer 
software. 

3.3. 
COMPETITIVE RELATIONSHIPS 

It 
is 
unethical 
and 
unlawful 
to 
collaborate 
with 
competitors 
or 
their 
agents 
or 
representatives 
for 
the 
purpose of 
establishing 
or maintaining 
rates 
or prices 
at any 
particular level, 
or to 
collaborate in 
any 
way in the restraint of trade. 

 

 

4. 
CONFLICTS 
OF INTEREST 

Employees are 
expected to 
perform their 
duties conscientiously, 
honestly and 
in accordance 
with the 
best interests of Lesaka to optimize business objectives. 
Employees must 
not use their 
positions, or 
knowledge gained 
through their employment 
with Lesaka, 
for private or personal advantage or in 
such a manner that a conflict or an 
appearance of conflict arises 
between Lesaka’s interest and their personal 
interests. 

A conflict could arise 
where an employee’s 
family, or 
a business with which 
an employee or his 
or her 
family is associated obtains a 
gain, advantage or profit, or there 
is the appearance of a 
gain, advantage 
or profit, by virtue of the employee’s position with Lesaka 
or knowledge gained through that position. 
Every 
employee 
must promptly 
inform 
Lesaka of 
any 
business 
opportunities 
that 
come to 
his or 
her 
attention 
through 
the 
use 
of 
Lesaka 
assets, 
property 
or 
information 
or 
that 
relate 
to 
the 
existing 
or 
prospective business of Lesaka. 
If employees feel 
that a course 
of action which 
they have pursued, 
are pursuing 
or are contemplating 
pursuing, may involve them in a conflict of 
interest situation or a perceived conflict 
of interest situation, 
they should 
immediately make 
all the 
facts known 
to the person 
to whom 
they report 
and the 
Human 
Resources Manager, or Compliance 
Department. 
4.1. 
OUTSIDE ACTIVITIES, EMPLOYMENT AND 
DIRECTORSHIP 

We all share 
a very real 
responsibility to contribute 
to our local 
communities, and 
Lesaka encourages 
employees to participate in religious, charitable, educational 
and civic activities. 
Employees 
should, 
however, 
avoid 
acquiring 
any 
business 
interest 
or 
participating 
in 
any 
activity 
outside Lesaka which would create, or appear to create: 
●
 
an excessive demand upon their time, attention and energy which would deprive 
Lesaka of their 
best efforts 
on the job; or 
●
 
a conflict of interest - that is, an obligation, interest or distraction which would interfere or appear 
to interfere with their independent exercise of judgment 
in Lesaka’s best interest. 
Employees other than 
outside directors 
may not take 
up outside employment 
without the 
prior written 
approval of the Human Resources Manager. 
Employees who hold, or have 
been invited to hold, outside 
directorships should take particular 
care to 
ensure 
compliance 
with 
all 
provisions 
of 
this 
Code. 
When 
outside 
business 
directorships 
are 
being 
considered by employees other than outside directors, prior 
written approval must be obtained from the 
Chief Executive Officer of Lesaka or Executive Director 
responsible for the division. 
4.2. 
RELATIONSHIPS WITH CLIENTS, CUSTOMERS AND SUPPLIERS 

Lesaka recognizes 
that relationships 
with clients, customers 
and suppliers give 
rise to 
many potential 
situations where conflicts of interest, real or perceived, 
may arise. 

Employees 
should 
ensure 
that 
they 
are 
independent, 
and 
are 
seen 
to 
be 
independent, 
from 
any 
business organization 
having a contractual 
relationship with 
Lesaka or 
providing goods 
or services 
to 
Lesaka, if such a 
relationship might influence 
or create the impression 
of influencing their decisions 
in 
the performance of their duties on behalf of Lesaka. 
In 
such 
circumstances, 
employees 
should 
not 
invest 
in, 
or 
acquire 
a 
financial 
interest, 
directly 
or 
indirectly, in such 
an organization. 

4.3. 
GIFTS, HOSPITALITY AND FAVOURS 
Conflicts 
of 
interest 
can 
arise 
where 
employees 
are 
offered 
gifts, 
hospitality 
or 
other 
favours 
which 
might, or 
could be 
perceived to, 
influence their 
judgment in 
relation to 
business transactions 
such as 
the placing of orders and contracts. 
An employee should not accept gifts, hospitality or other favours from suppliers of goods or services to 
Lesaka. However, the acceptance 
of the following would not be considered contrary to such 
policy: 
●
 
promotional matter of limited commercial value; 
●
 
occasional business 
entertaining such as lunches, cocktail parties or dinners; and 
●
 
occasional personal hospitality such as tickets to sporting 
events or theatres. 
Any bribe or attempted 
bribe must be reported 
to the employee’s 
line manager as soon 
as possible. It 
is the intention that dealings with any supplier that offers 
bribes will be terminated. 
Certain 
functions 
or 
operating 
areas 
may 
have 
more 
detailed 
rules 
governing 
the 
receipt 
of 
gifts, 
hospitality or other favours. 
In addition, no bribes 
of any kind should be 
made by any Lesaka 
employee to any customer or 
potential 
customer to secure business. 
Providing the occasional gifts to customers, as set 
out below, would not be considered contrary to such 
a policy: 
●
 
advertising matter of limited commercial value; 
●
 
occasional business entertaining such as lunches, cocktail 
parties or dinners; and 
●
 
occasional personal hospitality such as tickets to sporting 
events or theatres. 
4.4. 
PERSONAL INVESTMENTS 
Lesaka respects 
the right 
of all 
employees to 
make personal 
investment decisions 
as they 
see fit, 
as 
long as 
these decisions 
do not 
contravene any 
provisions of 
this Code, 
any applicable 
legislation, or 
any policies 
or procedures 
established by 
the various 
operating areas 
of Lesaka, 
and provided 
these 
decisions 
are 
not 
made 
on 
the 
basis 
of 
material 
non-public 
information 
acquired 
by 
reason 
of 
an 
employee’s connection with Lesaka. 

Employees should not 
permit their personal 
investment transactions 
to have priority 
over transactions 
for Lesaka and its clients. 
When considering the application of this section, 
employees should ensure that no investment decision 
made 
for 
their 
own 
account 
could 
reasonably 
be 
expected 
to 
adversely 
influence 
their 
judgment 
or 
decisions in the performance of their duties on behalf of Lesaka. 
Employees involved in 
performing investment activities 
on behalf 
of Lesaka 
and those 
who by 
the nature 
of their duties 
or positions 
are exposed to 
price-sensitive information 
relating to Lesaka 
are subject to 
additional rules 
governing 
personal investments. 
These may 
be imposed 
by the 
Companies Act, 
the 
Stock 
Exchange 
of 
Johannesburg, 
Banks 
Act, 
Financial 
Sector 
Conduct 
Authority, 
Securities 
Regulation Panel and other regulatory bodies, industry 
associations and management. 

The rules include requirements for employees to:
●
 
obtain 
prior 
written 
approval 
for, 
and 
to 
report 
on, 
their 
personal 
investment 
activity 
and 
the 
investment activity of those persons with whom they 
have a close relationship; and 

●
 
refrain 
from 
dealing 
in 
the 
shares 
of 
entities 
that 
Lesaka 
deals 
with 
during 
certain 
restricted 
periods, as well as Lesaka subsidiaries and associates. 
4.5. 
INSIDER INFORMATION AND INSIDER TRADING 
Employees 
may 
receive 
information 
concerning 
Lesaka 
or 
one 
of 
its 
affiliates, 
business 
partners, 
clients, or 
customers 
that 
is confidential 
and 
not generally 
known by 
the 
public. If 
that 
information 
is 
“material” (i.e., publication of that information is likely to affect the market price of the stock of the entity 
to which the information relates), then the employee has 
an ethical and legal obligation not to: 
●
 
act on that information (i.e., buy or sell stock based on 
that information); 
●
disclose that information to others; or 
●
advise 
others 
to 
buy 
or 
sell 
the 
stock 
of 
the 
entity 
to 
which 
that 
information 
relates, 
until 
such 
information becomes public. 

An 
employee’s 
direct 
or 
indirect 
use 
of 
or 
sharing 
of 
such 
confidential, 
privileged, 
or 
otherwise 
proprietary 
business 
information 
of 
Lesaka 
or 
its 
partners, 
clients, 
or 
customers 
for 
financial 
gain, 
including investment by the employee or the transmission 
of this information to others so that they 
can 
use 
this 
information 
for 
their 
financial 
gain, 
constitutes 
insider 
trading, 
which 
is 
a 
criminal 
offense. 
Please refer to Lesaka’s Insider Trading 
Policy for more information. 
4.6. 
REMUNERATION 
No 
employee 
may 
receive 
commissions 
or 
other 
remuneration 
related 
to 
the 
sale 
of 
any 
product 
or 
service 
of 
Lesaka 
except 
as 
specifically 
provided 
under 
an 
individual’s 
terms 
of 
employment 
or 
as 
specifically agreed with management. 

No member of Lesaka’s Audit Committee shall 
receive any compensation not permitted by the rules of 
the Securities and 
Exchange Commission 
(hereinafter referred 
to as the 
“SEC”), The 
NASDAQ Stock 
Market, and other applicable law. 
Employees may not receive any money or anything of value (other than Lesaka’s regular remuneration 
or other 
incentives), either 
directly or 
indirectly, 
for negotiating, 
procuring, recommending 
or aiding 
in 
any transaction 
made on 
behalf of 
Lesaka, 
nor have 
any direct 
or indirect 
financial interest 
in such 
a 
transaction. 

 

 

5. 
EMPLOYMENT 
EQUITY, 
ENVIRONMENTAL 
RESPONSIBILITY 
AND 
POLITICAL 
SUPPORT 
5.1. 
EMPLOYMENT EQUITY 

Lesaka supports employment 
equity in the 
workplace and seeks 
to identify, 
develop and reward 
each 
employee who 
demonstrates 
the qualities 
of individual 
initiative, 
enterprise, 
hard 
work 
and 
loyalty 
in 
their 
job. 
Lesaka 
supports 
and 
complies 
with 
the 
Basic 
Conditions 
of 
Employment 
Act 
and 
the 
Employment Equity Act. 
All employees 
have the 
right to 
work in 
an environment 
which is 
free from 
any form 
of discrimination, 
directly or 
indirectly, 
on any 
arbitrary ground, 
including, but 
not limited 
to race, 
gender, 
sex, ethnic 
or 
social 
origin, 
colour, 
sexual 
orientation, 
age, 
disability, 
religion, 
conscience, 
belief, 
political 
opinion, 
culture, language, marital status or family responsibility. 

Employees should report any cases 
of actual or suspected discrimination to their 
line managers or the 
Human Resources Manager. 
Employees with 
illnesses or 
disabilities may 
continue to 
work, provided 
that they 
are able to 
continue 
to perform satisfactorily 
the essential duties 
of their jobs 
and do not 
present a safety 
or health hazard 
to themselves or others. 
5.2. 
HEALTH AND SAFETY 
Lesaka is committed 
to taking 
every reasonable 
precaution to 
ensure a 
safe work 
environment for 
all 
employees. 
Employees 
who 
become 
aware 
of 
circumstances 
relating 
to 
Lesaka’s 
operations 
or 
activities 
which 
pose 
a 
real 
or 
potential 
health 
or 
safety 
risk 
should 
report 
the 
matter 
to 
their 
line 
manager 
and 
the 
Human Resources Manager. It is 
Lesaka’s policy that no 
retaliation or other 
adverse action will 
be taken 
against any employee for good-faith reports. 
5.3. 
ENVIRONMENTAL MANAGEMENT 
Lesaka 
is 
committed 
to 
developing 
operating 
policies 
to 
address 
the 
environmental 
impact 
of 
its 
business activities by 
integrating pollution control, 
waste management and 
rehabilitation activities into 
operating procedures. Employees should 
give appropriate and timely 
attention to environmental issues. 
5.4. 
POLITICAL SUPPORT 

Lesaka accepts 
the personal 
participation of 
its employees 
in the 
political process 
and respects 
their 
right to 
absolute privacy 
with regard 
to personal 
political activity. 
Lesaka will 
not attempt 
to influence 
any such 
activity provided 
there is 
no 
disruption 
to 
workplace 
activities 
and 
it does 
not contribute 
to 
industrial unrest. 
Lesaka funds, goods or services, however, may not be used as contributions to political parties or their 
candidates. 

 

 

6. 
LESAKA’S FUNDS, PROPERTY AND RECORDS 

6.1. 
FUNDS AND PROPERTY 

Lesaka 
has 
developed 
a 
number 
of 
internal 
controls 
to 
safeguard 
its 
assets 
and 
imposes 
strict 
standards to prevent fraud and dishonesty. It is every employee’s 
responsibility to implement, maintain 
and enhance the effectiveness of the control environment 
in which they operate. 

All 
employees 
who 
have 
access 
to 
Lesaka’s 
funds 
in 
any 
form 
must 
at 
all 
times 
follow 
prescribed 
procedures for recording, handling and protecting such 
funds. 

Operating 
areas 
may 
implement 
policies 
and 
procedures 
relating 
to 
the 
safeguarding 
of 
Lesaka 
property, including computer 
software. 
Employees 
must 
at 
all 
times 
ensure 
that 
Lesaka’s 
funds 
and 
property 
are 
used 
only 
for 
legitimate 
Lesaka business purposes. Where 
an employee requires Lesaka 
funds to be 
spent, it is the 
employee’s 
responsibility 
to 
use 
good 
judgment 
on 
Lesaka’s 
behalf 
and 
to 
ensure 
that 
appropriate 
value 
and 
authorization is received for such expenditure. 
All payments made 
by or on 
behalf of Lesaka 
for any purpose 
must be fully 
and accurately described 
in the documents 
and records supporting 
the payment. No 
false, improper, 
or misleading entries 
shall 
be made in the books and records of Lesaka. 
Complete and 
accurate information 
is to 
be given 
in response 
to inquiries 
from Lesaka’s 
Compliance 
Department and certified public accountants. 
If employees become aware of any 
evidence that Lesaka funds or property may 
have been or are likely 
to be 
used in 
a fraudulent 
or improper manner 
they should immediately 
and confidentially advise 
Lesaka 
as set out in the compliance with this Code section 
of this document. 

It is Lesak 
a’s policy 
that no 
retaliation or 
other adverse 
action will 
be taken 
against any 
employee for 
good-faith reports. 
6.2. 
RECORDS 

Accurate 
and 
reliable 
records 
of 
many 
kinds 
are 
necessary 
to 
meet 
Lesaka’s 
legal 
and 
financial 
obligations and to manage 
the affairs of Lesaka. 
Lesaka’s books and records should 
reflect all business 
transactions in an accurate and timely manner. 

Undisclosed 
or 
unrecorded 
revenues, 
expenses, 
assets 
or 
liabilities 
are 
not 
permissible, 
and 
the 
employees 
responsible 
for 
accounting 
and 
record-keeping 
functions 
are 
expected 
to 
be 
diligent 
in 
enforcing proper practices. 

 

 

7. 
EMPLOYMENT MATTERS 
7.1. 
SUPERVISION OF RELATIVES AND OTHERS 
Close relatives and domestic 
partners shall not work 
directly or indirectly under 
the supervision of one 
another without prior written approval. 

●
 
“Close relative” 
means, but 
is not 
limited to, 
a spouse, 
sister, 
brother, 
sister-in-law, 
brother-in-
law, father, mother, father-in-law, 
mother-in-law, step-parent, aunt, uncle, first cousin, 
child, step-
child, foster child, or grandparent. 

●
 
“Domestic partner” means, 
but is 
not limited 
to, husband, wife, 
or a 
person the employee 
currently 
resides with in an intimate, romantic or sexual relationship. 

If such a situation should arise, it should be immediately brought to the attention of a direct manager of 
Human Resources. 
Lesaka 
also 
requires 
that 
employees 
disclose 
to 
Human 
Resources 
the 
existence 
of 
an 
intimate, 
romantic or sexual relationship between employees where there exists a direct chain of command and/ 
or supervisor/ subordinate relationship. Decisions concerning such employees will be made on a case-
by-case basis by Human Resources. 
7.2. 
RESTRICTIONS ON FORMER GOVERNMENT 
EMPLOYEES 
Former U.S. Government employees or U.S. 
military officers are generally prohibited from 
representing 
Lesaka in matters in which 
the government has substantial interest 
and where the employee had 
prior 
responsibility. 

Retired senior government officials 
and regular military officers 
are further restricted from 
selling to, or 
in some instances, contacting their former agency or 
military service. 

The duration of these prohibitions 
and the matters to 
which they apply depend on 
the type of previous 
government 
employment. 
Lesaka’s 
legal 
department 
should 
be 
contacted 
to 
help 
identify 
which 
restrictions apply. 

 

 

8. 
DEALING WITH OUTSIDE PERSONS AND ORGANISATIONS 

8.1. 
PROMPT COMMUNICATIONS 
Lesaka strives to achieve complete, 
accurate, fair, understandable 
and timely communications with all 
parties with whom 
it conducts business, 
as well as 
government authorities and 
the public. All 
employees 
must take all steps necessary to 
assist Lesaka in fulfilling these disclosure 
responsibilities. In addition, 
prompt and effective internal communication 
is encouraged. 
A prompt, courteous and accurate response should be made to all reasonable requests for information 
and 
other 
client 
communications. 
Any 
complaints 
should 
be 
dealt 
with 
in 
accordance 
with 
internal 
procedures established by various operating areas of 
Lesaka and applicable laws. 
8.2. 
MEDIA RELATIONS 
In 
addition 
to 
everyday 
communications 
with 
outside 
persons 
and 
organizations, 
Lesaka 
will, 
on 
occasion, be asked to express its views to the media on certain 
issues. 
When communicating publicly on 
matters that involve Lesaka business, 
employees must not presume 
to speak 
for Lesaka 
on any 
matter, 
unless they 
are certain 
that the 
views they 
express are 
those of 
Lesaka and it is Lesaka’s 
desire that such views 
be publicly disseminated. 
Employees approached by 
the 
media 
should 
immediately 
contact 
the 
department 
or 
individual 
responsible 
for 
corporate 
communications. 
An employee, when 
dealing with anyone 
outside Lesaka, 
including public officials, 
must take care 
not 
to compromise 
the integrity or 
damage the reputation 
of any outside 
individual, business, or 
government 
body, or that of Lesaka 
. 
As 
a 
general 
rule, 
Lesaka’s 
position 
on 
public 
policy 
or 
industry 
issues 
will 
be 
dealt 
with 
by 
senior 
management of Lesaka and existing policies 
in this regard must be adhered to. The 
text of the articles 
for publication, 
public speeches 
and addresses 
about Lesaka 
and its 
business should 
be reviewed 
in 
advance with the individual responsible for public relations. 
Employees 
should 
separate 
their 
personal 
roles 
from 
Lesaka’s 
position 
when 
communicating 
on 
matters not 
involving Lesaka 
business. They 
should be 
especially careful 
to ensure 
that they 
are not 
identified with Lesaka when 
pursuing personal or political 
activities, unless this 
identification has been 
specifically authorized in advance by Lesaka. 

 

 

9. 
PRIVACY AND CONFIDENTIALITY 

In 
the 
regular 
course 
of 
business, 
Lesaka 
accumulates 
a 
considerable 
amount 
of 
information. 
The 
following principles are to be observed: 
9.1. 
OBTAINING AND SAFEGUARDING INFORMATION 
Information 
necessary 
for 
Lesaka’s 
business 
should 
be 
reliable, 
accurate 
and 
its 
confidentiality 
maintained. 
When 
personal 
information 
is 
needed, 
wherever 
possible, 
it 
should 
be 
obtained 
directly 
from 
the 
person 
concerned. 
Only 
reputable 
and 
reliable 
sources 
should 
be 
used 
to 
supplement 
this 
information. 
Information 
should 
only 
be 
retained 
as 
long 
as 
it 
is 
needed 
or 
as 
required 
by 
law, 
and 
it 
is 
every 
employee’s responsibility to ensure that such information 
is physically secured and protected. 
9.2. 
ACCESS TO INFORMATION 
Any 
information 
with 
respect 
to 
any 
product, 
plan 
or 
business 
transaction 
of 
Lesaka, 
or 
personal 
information regarding employees, including their salaries, must be 
kept strictly confidential (hereinafter 
referred to as “Confidential 
Information”) and must 
not be disclosed 
or used for 
improper purposes by 
any employee unless and until proper authorization for 
such disclosure has been obtained. 

Once authorization has 
been obtained, all 
information required by 
stakeholders either on 
request or due 
to statutory requirements must be accurately disclosed. 

In addition, operating 
areas may implement 
policies and procedures 
to prevent improper transmission 
within Lesaka of material non-public information. 
9.3. 
TERMINATION OF EMPLOYMENT 
The 
obligation 
to 
preserve 
the 
confidentiality 
of 
Confidential 
Information 
acquired 
in 
the 
course 
of 
employment 
with 
Lesaka 
does 
not 
end 
upon 
termination 
of 
employment. 
The 
obligation 
continues 
indefinitely 
until 
Lesaka 
authorizes 
disclosure, 
or until 
the 
Confidential 
Information 
legally 
enters 
the 
public domain. 
Immediately 
upon 
the 
termination 
of 
employment 
for 
any 
reason, 
or 
when 
otherwise 
requested 
by 
Lesaka, 
employees 
are 
required 
to 
return 
to 
Lesaka 
all 
above-mentioned 
Confidential 
Information, 
including documents, information and other property. 
9.4. 
FORMER EMPLOYMENT 
New employees 
will 
not 
be 
assigned 
to 
work 
where 
they 
might 
be 
required 
to 
use 
or disclose 
trade 
secrets or confidential information 
belonging to their former 
employers. New employees should not 
take 
away from 
their former 
place of 
employment any 
information that 
might be 
considered proprietary 
or 
confidential. 

 

 

10. 
OBLIGATIONS OF EMPLOYEES 

It is 
of paramount 
importance to 
Lesaka that 
all disclosure 
in reports 
and documents 
that Lesakafiles 
with, or submits to, the SEC, and in other public communications made by Lesaka is full, fair, accurate, 
timely and understandable. 

You must take all steps available to assist Lesaka in fulfilling these responsibilities consistent with your 
role within 
the Lesaka. 
In 
particular, 
you are 
required 
to provide 
prompt 
and accurate 
answers 
to all 
inquiries made to you in connection with Lesaka’s 
preparation of its public reports and disclosure. 
All employees must perform their duties diligently, 
effectively and efficiently, 
and in particular: 
●
 
support and 
assist Lesaka 
to fulfil 
its commercial 
and ethical 
obligations and 
objectives as 
set 
out in this Code; 
●
 
avoid any waste of resources, including time; 
●
 
be 
committed 
to 
improving 
productivity, 
achieving 
the 
maximum 
quality 
standards, 
reducing 
ineffectiveness, and avoiding unreasonable disruption 
of activities at work; 
●
 
commit to honouring their agreed terms and conditions 
of employment; 
●
 
not 
act 
in 
any 
way 
that 
may 
jeopardize 
the 
shareholders’ 
rights 
to 
a 
reasonable 
return 
on 
investment; 
●
 
act 
honestly 
and 
in 
good 
faith 
at 
all 
times 
and 
report 
any 
harmful 
activity 
they 
observe 
in 
the 
workplace; 
●
 
recognize fellow 
employees’ 
rights to 
freedom of 
association and not 
intimidate fellow employees; 
●
 
pay 
due 
regard 
to 
environmental, 
public 
health 
and 
safety 
conditions 
in 
and 
around 
the 
workplace; and 
●
 
act within their powers and not carry on the business 
of Lesaka recklessly. 
Each employee who contributes in any way to 
the preparation or verification of the Company's financial 
statements and other financial information must: 
●
 
ensure that the Company's books, records and accounts 
are accurately maintained; 
●
 
be 
familiar 
with 
and 
comply 
with 
the 
Company's 
disclosure 
controls 
and 
procedures 
and 
its 
internal control over financial reporting; and 
●
 
take 
all 
necessary 
steps 
to 
ensure 
that 
all 
filings 
with 
the 
SEC 
and 
all 
other 
public 
communications 
about 
the 
financial 
and 
business 
condition 
of 
the 
Company 
provide 
full, 
fair, 
accurate, timely and understandable disclosure. 
Each employee 
must cooperate 
fully with 
the Company's 
accounting and 
internal audit 
departments, 
as well as the Company's certified public accountants 
and counsel. 
Each employee 
acknowledges 
that 
Lesaka shall 
be the 
owner 
of the 
copyright 
in 
any work 
which 
is 
eligible for copyright and which is created or 
executed by such employee, whether alone or with 
others, 
in the course and scope of employment. 
All work created or executed by the employee and for which copyright exists shall 
unless the employee 
established 
the 
contrary, 
be 
deemed 
to 
have 
been 
created 
or 
executed 
in 
the 
course 
and 
scope 
of 
employment with Lesaka. 
 

 

 

11. 
POLICY REVIEW 
The Audit Committee of 
the Company will periodically 
(preferably annually) review 
the policy and may 
recommend changes from time to time for the consideration of 
the Board. 

Any proposed 
changes 
to this 
Policy 
where 
indicated, 
shall be 
referred 
to the 
Board 
for 
appropriate 
action. 
BOARD APPROVAL 
RECEIVED: SEPTEMBER 2022

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}]]