LESAKA TECHNOLOGIES INC

Under

the

supervision

and

with

the

participation

of

our

management,

our

executive

chairman

and

our

group

chief

financial officer, we conducted

an evaluation of our disclosure controls and procedures, as such term is defined

under Rule 13a-15(e)

promulgated under the Securities Exchange Act of 1934, as amended, as of

We previously identified and disclosed in Part II, Item 9A of our Annual Report on Form 10-K for the

year ended June 30, 2024,

material weaknesses in our internal control over financial reporting

related to: (1) information technology general controls (“ITGCs”),

specifically

insufficient

risk

assessment,

design

and

implementation,

monitoring

and

training

of

individuals

to

operate

controls

in the

areas of

user access

and

program-change

for

certain

technology

systems

that support

our

financial reporting processes and (2) insufficient design and implementation of controls and associated policies

and procedures in our

annual goodwill impairment assessment. A material weakness is a deficiency,

or combination of deficiencies, in internal control

over

financial reporting such

that there

is a

reasonable possibility that

a material misstatement

of our annual

or interim

statements will not be prevented or detected on a timely basis.

As a result

of insufficient time to

design and implement procedures

to remediate the

material weaknesses discussed in

Report on Form

10-K for

our fiscal

year ended June

30, 2024 (as

described above), the

executive chairman and

the group chief

officer concluded that our disclosure controls and procedures were

not effective as of September 30, 2024.

Notwithstanding

the

identified

material

weaknesses,

believes

the

statements included

in this Quarterly

Form 10-Q fairly

present, in

all material respects,

our financial

condition, results

of

operations and cash flows as of and for the periods presented in accordance with

GAAP.

Changes in Internal Control over Financial Reporting

We have commenced

with the design and implementation of the remediation plan during the three months ended

2024 which includes:

the

review

of

ITGCs

and

implementation

of

changes

to

certain

controls

to

address

the

issues

related

to

the

material

weaknesses identified above; and

the review and implementation of changes to the design of the controls related

to the goodwill impairment assessment.

The remediation plan

may be adjusted

as is appropriate,

as we continue

to evaluate and

enhance our internal

control over financial

reporting. Other than the

design and implementation of

the remediation plan, there

have not been any changes

in our internal control

over financial reporting during

the fiscal quarter ended

September 30, 2024, that have

materially affected, or are

reasonably likely to

materially affect, our internal control over financial reporting.