Lesaka - JSE's (only?) exponential tech stock is back on track, a play on SA's informal sector

After the fallout following Net1's disastrous engagement with South Africa's welfare payment agency SASSA, the company's share price fell to a fraction of its highs. The seemingly hopeless case, however, attracted activist shareholders Value Capital Partners and two years later, the private equity turnaround specialist's efforts are bearing fruit. Financial results for the year ended June reflect a massive bottom-line turnaround. CEO Chris Meyer reckons there's much more to come, with another strong 12-month forecast and longer-term profit growth of 20% targeted. Given the pedigree of its new managers and supportive shareholders, the company now called Lesaka may well be the exponential growth opportunity South African investors haven't seen since the glory years of Naspers. - Alec Hogg