EX-10.52 14 ex1052.htm EX-10.52
1
Facility letter no: CM/02/Lesaka/2025
27 February
2025
The
Directors
Lesaka Technologies Proprietary Limited
4th Floor President Place
Cnr. Jan Smuts Avenue & Bolton Road,
Rosebank
Johannesburg
South Africa 2196
Attention:
Daniel Smith (Group
Chief Financial Officer)
GENERAL BANKING
FACILITY AGREEMENT
FIRSTRAND
BANK
LIMITED
(Reg.
No.
1929/001225/06)
(“
the
Bank
”),
has
pleasure
in
offering
Lesaka
Technologies
Proprietary
Limited,
registration
number
2002/031446/07
and
each
entity
which
has
executed
this
General
Banking
Facility
Agreement
(also
referred
to
herein
as
the
“
General
Banking
Facility
Agreement
”),
(individually "
the Borrower
”, collectively
“
the Borrowers
”), the
general banking
facilities described
below
(“
the
Facility
”
and
each
a
“
Facility
”)
,
subject
to
the
terms
and
conditions
set
out
in
this
General
Banking
Facility
Agreement and the Bank’s General Terms and Conditions Version
GTC0118NS
(“
the GTC’s
”).
RECORDAL: COMMON
TERMS AGREEMENT
Utilisation
of
the
Facilities
recorded
in
this
General
Banking
Facility
Agreement
are
subject
to
the
terms
and
conditions
of the
Common Terms
Agreement entered
into
on
or
about
the
date of
this
General Banking
Facility
Agreement
by
and
between,
amongst
others,
Lesaka
Technologies,
Inc.
(as
the
Holdco),
Lesaka
Technologies
Proprietary Limited,
registration number
2002/031446/07 (as
the Term/RCF
Borrower), the
WCF Borrowers
and
FirstRand Bank
Limited (acting
through its Rand
Merchant Bank
division) (as
original Senior Lenders) (the “
CTA
”)
which
are
incorporated
by
reference
herein.
This
General
Banking
Facility
Agreement
constitutes
a
Finance
Document as defined in CTA.
Capitalised terms not otherwise
defined herein shall
bear the meaning
ascribed to them in
the CTA.
1 Merchant Place
PO Box 786273
Switchboard
+27 11 282 8000
Cnr Fredman Dr and Rivonia Rd
Sandton 2196
Sandton 2146
South Africa
Website
rmb.co.za
Exhibit 10.52
2
The obligation
of the
Bank to
make
the facilities
(or any
of
them) available
under this
General Banking
Facility
Agreement and to
allow any utilisation
under any of
the facilities under
this General Banking
Facility Agreement,
and
the
right
of
each
WCF
Borrower
to
utilise
any
facility
under
this
General
Banking
Facility
Agreement,
are
subject
to
fulfilment of
the
initial
conditions precedent
(the "
Initial
Conditions
Precedent
")
(as
provided for
in
clauses 5.1) of the CTA and the Special Terms
set forth below.
1
FACILITIES
1.1.
Short Term Direct
Borrower/s:
Lesaka Technologies Proprietary Limited
(Reg. no. 2002/031446/07) Easy
Pay Financial Services (Pty) Ltd (Reg. no.
1998/020799/07)
Cash Connect Management
Solutions Proprietary Limited
(Reg.
no. 2006/010530/07)
Main Street 1723
Proprietary Limited (Reg.
no. 2019/300711/07) Adumo
(RF) Proprietary Limited (Reg. no.
2017/540380/07
)
Facility Amount:
R700,901,000
(seven hundred million
nine hundred and
one thousand Rand).
Utilisation:
General Banking
Products.
Term of Facility:
Demand Facility.
Special Terms:
The granting and continued
use of this Short Term Direct facility is subject
to the
following conditions:
●
The utilisation of
this Facility by Cash
Connect Management
Solutions (Pty) Ltd may not exceed R170,000,000;
●
The utilisation of this
Facility by Main Street
1723 Proprietary
Limited may not exceed R100,000,000;
●
The utilisation of this
Facility by Adumo (RF)
Proprietary Limited
may not exceed R3,500,000.
3
1.2.
Short Term Direct
Borrower/s:
Lesaka Technologies Proprietary Limited
(Reg. no. 2002/031446/07) Cash
Connect Management Solutions (Pty) Ltd (Reg. no.
2006/010530/07)
Main Street 1723
Proprietary Limited (Reg.
no. 2019/300711/07)
Facility Amount:
R7,500,000 (seven million five hundred thousand Rand).
Utilisation:
Corporate Credit
Cards.
Term of Facility:
Demand Facility.
Special Terms:
The granting and continued
use of this Short Term Direct facility is subject
to the
following conditions:
●
The utilisation of
this Facility by Lesaka
Technologies Proprietary may
not exceed an aggregate amount of R5,000,000;
●
The utilisation of
this Facility by Cash
Connect Management
Solutions (Pty) Ltd, may not exceed R1,000,000; and
●
The utilisation of this
Facility by Main Street
1723 Proprietary
Limited may not exceed R1,500,000.
1.3.
Short Term Direct
Borrower/s:
Lesaka Technologies Proprietary Limited
(Reg. no. 2002/031446/07)
Facility Amount:
R12,000,000 (twelve million Rand).
Utilisation:
Auto Cards. Term
of Facility:
Demand Facility.
4
1.4.
Short Term Direct
Borrower/s:
Lesaka Technologies Proprietary Limited
(Reg. no. 2002/031446/07)
Cash Connect Management
Solutions Proprietary Limited (Reg.
no.
2006/010530/07)
Main
Street
1723
Proprietary
Limited
(Reg.
no.
2019/300711/07)
Facility
Amount:
R23,500,000
(twenty
three
million
five
hundred
thousand
Rand).
Utilisation:
Fleet Cards.
Term of Facility:
Demand Facility.
Special Terms:
The granting and continued
use of this Short Term Direct facility is
subject to the
following conditions:
●
The utilisation of
this Facility by Lesaka
Technologies Proprietary
Limited, may not exceed R20,500,000;
●
The utilisation of
this Facility by Cash
Connect Management
Solutions (Pty) Ltd, may not exceed R1,000,000; and
●
The utilisation of this
Facility by Main Street
1723 Proprietary
Limited may not exceed R2,000,000.
1.5.
Short Term Contingent
Borrower/s:
Lesaka Technologies Proprietary Limited
(Reg. no. 2002/031446/07)
Cash Connect Management
Solutions Proprietary Limited
(Reg.
no. 2006/010530/07)
Main Street 1723 (Pty) Ltd (Reg. no. 2019/300711/07) Facility
Amount:
R4,700,000 (four million
seven hundred thousand
Rand).
Utilisation:
Guarantees.
Term of Facility:
Demand Facility.
Special Terms:
The granting and continued
use of this Short Term Contingent facility
is
subject thereto that.
5
●
Individual guarantees issued under this Facility must be in the format
acceptable to the Bank and must have expiry dates not exceeding 12
(twelve) months from date of issue, alternatively same
must provide for
notice of cancellation by
the Bank with the notice period
not to exceed
3 (three) months;
●
The utilisation of this Facility by Cash Connect Management
Solutions Proprietary Limited,
may not exceed R2,350,000;
and
●
The utilisation of this
Facility by Main Street
1723 Proprietary
Limited may not exceed R2,350,000.
1.6.
Long Term Contingent
Borrower/s:
Cash Connect Management
Solutions Proprietary Limited
(Reg.
no. 2006/010530/07)
Main Street 1723
Proprietary Limited (Reg.
no. 2019/300711/07)
Facility Amount:
R6,000,000 (six million Rand).
Utilisation:
Financial guarantees.
Term of Facility:
Demand Facility.
Special Terms:
Individual guarantees issued under
this Facility must be
in the format
acceptable to the Bank;
●
The utilisation of
this Facility by Cash
Connect Management
Solutions (Pty) Ltd, may not exceed R2,000,000; and
●
The utilisation of this
Facility by Main Street
1723 Proprietary
Limited may not exceed R4,000,000.
1.7.
Long Term Contingent
Borrower/s:
Lesaka Technologies Proprietary Limited
(Reg. no. 2002/031446/07)
Facility Amount:
R28,000,000 (twenty eight million Rand).
Utilisation:
Guarantee/s in favour
of the City
of Cape Town;
Term of Facility:
Demand Facility.
6
Special Terms:
The granting and continued
use of this Long Term Contingent facility
is
subject thereto that:
●
Individual guarantees issued under
this Facility must be
in the format
acceptable to the Bank and must have expiry dates not exceeding
30 June
2025, alternatively same must provide for notice of
cancellation by the Bank with
the notice period not
to exceed 3 (three) months.
1.8.
Long Term Contingent
Borrower/s:
Lesaka Technologies Proprietary Limited
(Reg. no. 2002/031446/07)
Facility Amount:
R5,000,000 (five million Rand).
Utilisation:
Guarantee/s in favour
of Eskom Holdings
SOC Ltd.
Term of Facility:
Demand Facility.
Special Terms:
The granting and continued use of this Long Term Contingent facility is subject
thereto that individual guarantees
issued under this Facility
must be in the
format acceptable to the Bank and must have expiry dates not exceeding
4
years from date of issue.
1.9.
Short Term Pre-Settlement
Borrower/s:
Lesaka Technologies Proprietary Limited
(Reg. no. 2002/031446/07)
Cash Connect Management
Solutions Proprietary Limited
(Reg.
no. 2006/010530/07)
Facility Amount:
R14,000,000 (fourteen
million Rand) (margined).
Utilisation:
Forward Exchange Contracts.
Term of Facility:
Demand Facility.
Special Terms:
The granting and continued
use of this Short Term Pre-Settlement facility
is
subject thereto that:
7
●
The utilisation of this
Facility by Cash Connect
Management Solutions
Proprietary Limited may not exceed R2,000,000; and
●
The utilisation of
this Facility by Lesaka
Technologies Proprietary
Limited may not exceed R12,000,000.
1.10.
Settlement
Borrower/s:
Lesaka Technologies Proprietary Limited
(Reg. no. 2002/031446/07)
Cash Connect Management
Solutions Proprietary Limited
(Reg.
no. 2006/010530/07)
EasyPay Proprietary Limited
(Reg. no. 1983/008597/07)
Cash Connect Rentals
Proprietary Limited (Reg.
no. 2009/007139/07)
Facility Amount:
R326,000,000 (Three hundred and twenty six million Rands).
Utilisation:
Settlement. Term
of Facility:
Demand Facility.
Special Terms:
The granting and continued
use of this Settlement facility
is subject thereto that:
●
The
total
Facility
Amount
of
this
Settlement
Facility
will
be
made
available
for utilisation by the
Borrower/s for the
first 6 (six) days of
each month. On the
7
th
day
of
each
month,
the
Facility
Amount
of
this
Settlement
Facility
will
automatically
reduce
to
R50,000,000
(fifty
million
Rand),
without
further
notice to the Borrower/s.
2
FURTHER SPECIAL TERMS TO THE
FACILITIES.
2.1.
The granting and
use of the
Facilities by a
Borrower is subject
to the fulfilment
of the
Initial Conditions
Precedent;
2.2.
The Borrowers and
the Bank agree that
the Single Balance Cash
Management Scheme (as defined
in the
GTC’s)
shall
apply
in
respect
of
the
Borrower’s
Demand
Deposit
Accounts
except
for
those
that
are
excluded by agreement.
8
3.
TERMS AND
CONDITIONS APPLICABLE TO THE
FACILITIES
3.1.
Subject to 2.2 below, the provisions
of the GTC’s (GTC0118NS) are incorporated
herein and shall apply to
each Facility and its utilisation.
3.2.
The
following
provisions
of
the
CTA
are
incorporated
mutatis
mutandis
by
reference
into
this
General
Banking Facility Agreement and shall apply to the Facilities as
if repeated herein in full:
3.3.
Clause 8.1 to clause
8.3 (Prepayment and Cancellation).
3.4.
Clause 14 (Tax Gross-Up, Tax Indemnity)
3.5.
Clause 15 (Changes in
Costs);
3.6.
Clause 20 (Representations);
3.7.
Clause 21 (Information
Undertakings);
3.8.
Clause 23 (General
Undertakings); and
3.9.
Clause 24 (Events of
Default).
Neither the
expiry or
termination of
any provision
of the
CTA
nor the
repayment of
the indebtedness
or
cancellation
of
the
commitments
thereunder
shall
affect
the
operation
and/or
enforceability
of
any
provision of the
CTA
which is incorporated by
reference in this
General Banking Facility Agreement and
such
provision
shall
remain
of
full
force
and
effect
as
incorporated
in
this
General
Banking
Facility
Agreement as though
such expiry, termination, repayment
and/or cancellation has not occurred.
3.10.
Utilisation of
a Facility
may be
also subject
to the
relevant Borrower
being required
to conclude
further
agreement(s) and/or document(s) in relation to specific banking products
(“
Transaction Annexure/s
”).
3.11.
Any inconsistency
between the
provisions of this
General Banking Facility
Agreement, the
provisions of
the
CTA
which
is
incorporated
by
reference
herein,
the
GTC’s
and/or
a
Transaction
Annexure
will
be
resolved by applying the following (descending) order of preference:
3.11.1.
a/the Transaction Annexure/s;
3.11.2.
This General
Banking Facility Agreement
;
9
3.11.3.
the CTA; and
3.11.4.
the GTC’s.
3.12
For so long as the provisions of the CTA apply to the General Banking Facility Agreement, the
following
provisions of the CTA will override the following provisions of the GTC's:
3.12.1
Clause 14 (Tax Gross-up and
indemnities) of the CTA replaces clauses
7.2 and 7.3 of
the GTC's;
3.12.2
Clause 20 (Representations)
of the CTA replaces clause
9 (Warranties) of the GTC's;
3.12.3
Clauses 21 (Information Undertakings), 22 (Financial
Covenants) and 23 (General Undertakings) of the
CTA replaces clause 10 (Undertakings) of the GTC's;
3.12.4
Clause 15 (Changes in Costs) of the CTA replaces Clause 11 (Change in Circumstances) of the GTC's;
3.12.5
Clause
8.3
(Mandatory
prepayment
–
change
of
control
or
transfer
of
business)
of
the
CTA replaces
Clause 13 (Change in Control) of the GTC's;
3.12.6
Clause 24 (Events of
Default) of the CTA replaces Clause
14 (Events of Defaults
of the GTC's);
3.12.7
Clause
34
(Notices)
of
the
CTA
replaces
Clause
17
(Notices
and
Addresses
for
Legal
Proceedings) of the GTC's;
3.12.8
Clauses 23.19 (Environmental Matters) replaces clause 23 (Environmental
Responsibility) of the GTC's;
3.12.9
Clause 25 (Changes
to Lenders) replaces
clause 22.2 of the
GTC's;
3.12.10
Clause 18 (Costs and
Expenses) of the
CTA replaces clause 25 (Costs) of the
GTC's; and
3.12.11
Clause 36
(Confidentiality) of
the CTA replaces
clause 26
(Disclosures and
Privacy) of
the GTC's.
3.13.
In amplification of the above, where any definition
(including the events of default), representation,
warranty
or undertaking is reflected or given in more than one of the above documents in respect of substantially the
same matter, the definition, event of default, representation, warranty or undertaking reflected or given in a
particular
document
will
apply
to
the
exclusion
of
(and
not
co-
extensively
with)
the
corresponding
definition,
representation,
warranty
or
undertaking
given
in
any
document
below
it
in
the
order
of
preference stated above.
10
3.14
Words
and phrases
defined in
the GTC’s
shall bear
the same
meaning assigned
to them
when used
in
this
General Banking Facility Agreement unless the contrary is indicated.
4.
DEBT GUARANTOR AND
RELATED SECURITY
4.1
The
Facilities
shall
be
secured,
inter
alia
,
by
all
the
Security
Documents
and
guarantees
required under the
CTA, including but not limited to the following:
4.1.1
Security Cession & Pledge;
4.1.2
The Holdco Cession &
Pledge;
4.1.3
The Transaction Security (Annexure
G of the CTA);
4.1.5
the Guarantee and Indemnity
set out in clause 19
of the CTA; and
4.1.6
The Debt Guarantee.
5.
FINANCIAL COVENANTS
5.1.
The Borrower
shall ensure that
for the
duration of each
Facility,
the Financial Covenants
as provided for
in clause 22 of the CTA
are maintained, with the same measurement periods as provided for therein being
applied.
5.2.
In the event that the CTA is settled or terminated prior to the
termination of any Facility, the Bank reserves
the
right
to
amend
or
continue
to
apply
the
Financial
Covenants
to
the
Facilities.
In
the
event
of
the
Borrower not
accepting any
such
amended financial
covenants the
Bank reserves
the right
to cancel
the
Facilities whereupon all amounts outstanding under the Facilities will become
due and payable.
6.
AVAILABILITY
OF THE FACILITY
6.1
Subject to the terms of this General Banking Facility
Agreement, each Facility shall be made available by
the Bank to the relevant Borrower as and when required by the Borrower, provided that:
6.1.1
the
aggregate
of
all
amounts
utilised
under
each
Facility
at
any
time
shall
not,
at
any
time
exceed
the
facility limit of that Facility;
11
6.1.2
the
aggregate
amount
of
the
face
value
of
any
guarantees
and/or
letters
of
credit
issued
against
the
relevant Facilities
and which
remain in
issue and
all amounts
utilised under
the relevant
Facilities at any
time in
the form
of guarantees
and/or letters
of credit
shall not,
at any
time exceed the facility
limits; and
6.1.3
save
for
the
requirement
for
the
delivery
of
any
drawdown
or
other
request
in
connection
with
the
utilisation of any Facility
and save for an
Event of Default or
a breach of any
of the terms and
conditions
of this
General Banking Facility Agreement
or the CTA,
the Initial Conditions
Precedent have
then been
satisfied (or waived by the Bank in writing).
7.
EVENT OF DEFAULT
7.1.
If an Event of Default has occurred and is continuing
the Bank shall have the right to immediately suspend
and cancel each
Facility, and,
without prejudice to any
other rights which
the Bank may have
pursuant to
the
CTA
or
at
law,
to
require
the
Borrower
to
immediately
repay
all
amounts
outstanding
under
each
Facility in terms of this General Banking Facility Agreement.
7.2.
Should
any
Borrower
at
any
time
become
obliged
to
make
any
mandatory
prepayments
(under
the
provisions of clause 8 of the CTA)
or to pay any or all
amounts outstanding on any or all of
the Facilities,
then that Borrower shall on the date on
which that Borrower becomes liable to make
such payments place
on
deposit
in
an
interest
bearing
account
with
the
Bank
an
amount
equal
to
all
contingent
and
pre-
settlement exposure (including but not limited to guarantees and/or forward exchange
contracts liabilities)
of
the
Bank
under
the
Facilities
which
are
not
yet
due
and
payable.
Should
any
deposit
be
made
as
aforesaid,
that
Borrower
hereby
pledges
and
cedes
(but
not
an
out
and
out
cession)
all
amounts
so
deposited
and
all
rights
in
and
to
such
account
to
the
Bank
as
continuing
covering
security
for
that
Borrower's obligations with regard
to such liabilities,
provided that in the
event of such
liabilities ceasing
to exist, the
amount of the deposit
that would not
be required to
discharge the
liability shall thereupon
be
returned to the relevant Borrower.
8.
REPAYMENT
8.1.
Notwithstanding the provisions
of clause 7
above, where a
Facility is a
demand facility,
the Bank may
at
any time, by way of written notice:
8.1.1.
demand immediate
repayment and/or
performance by
the Borrowers
of all
amounts and/or all
obligations owing to the Bank under the Facilities; and/or
12
8.1.2.
immediately terminate
the Facilities;
and in
any such
event the
Borrowers shall
be obliged
to immediately
repay all
amounts owing
under the
Facilities and/or to immediately perform all its obligations under
the Facilities, as the case may be.
8.2.
Notwithstanding
clause
8.1,
the
Bank
may
in
its
discretion
require
repayment
or
performance
by
the
Borrowers of their obligations
or termination of
the Facilities at such
later date as may
appear in the notice.
8.3.
All payments and/or monies received by the Bank shall
be appropriated firstly in settlement of the
Bank’s
costs and
fees, thereafter
to the
arrear or
penalty interest
(if any),
thereafter to
interest, and
thereafter the
balance (if any)
to the principal
debt due and/or
owing to the
Bank, provided that the
longest outstanding
principal debt due and/or owing shall be settled first.
8.4.
The Bank shall have the right
to debit to an account at
the Bank in the name of
any Borrower any costs and
fees
for
which
the
Borrowers
are
liable
and
all
amounts
paid
by
the
Bank
for
and
on
behalf
of
the
Borrowers pursuant
to the
provision of
the
Facilities, as
well as
any interest
(including
penalty
interest)
accruing on the Facilities, in terms of the Facility Terms and Condition.
9.
EXISTING AGREEMENTS
AND ROLLOVER
The
Parties
record
that
the
Bank
has
made
facilities
available
to
the
Borrowers
under
the
Existing
GBF
Agreements (defined
below). The
Parties agree
that, on
and with
effect from
the date
on which
this General
Banking Facility
Agreement becomes
unconditional according
to its
terms, any
utilisation, including
but
not
limited
to
any
overdraft
exposure,
term
loan
outstandings,
guarantees
or
Letters
of
credit
issued
or
FEC’s
entered into and/or any other banking accommodation granted or
in respect of any other
products provided by
the
bank
to
the
borrowers
and
correspondingly
marked
against
the
particular
product
line
as
well
as
any
associated
documents
which
relate
to
such
utilisation,
issue
or
banking
accommodation,
provided
under
Facility Letter no: LM/CCMS/01/2021
and Facility Letter no:
CM/01/LesakaBridge/2024, as
amended (each
an “Existing GBF
Agreement”
and collectively
“the Existing
GBF Agreements”)
shall be deemed
to be a
utilisation
under
the
corresponding
Facility
under
this
General
Banking
Facility
Agreement
and
shall
be
subject to
the terms
and conditions
of this
General Banking
Facility Agreement, as
read with
the GTC’s
and
each existing utilisation made
by a Borrower under the Existing GBF Agreements, which remains outstanding
in relation
to the
Bank (“
the GBF Rollover Utilisation
”):-
13
9.1.
is hereby transferred and assigned to the Borrowers without any notice
or other action by any person;
9.2.
each GBF Rollover
Utilisation will be
deemed to be
a utilisation made
by a Borrower
under this General
Banking Facility Agreement and
shall continue in force
for the full
duration of its
original tenor under an
Existing GBF Agreements, provided that:
a)
the rights
and obligations
of the
Parties under
any transaction
annexures or
similar documents originally
signed by
a Borrower
in connection
with any
such GBF
Rollover Utilisation,
shall continue
to be
of
full
force
and
effect
in
relation
to
the
GBF
Rollover
Utilisation
to
which
it
relates
until
that
GBF
Rollover Utilisation is repaid or otherwise discharged hereunder;
b)
the rights
and obligations
of the
Parties in
respect of
that GBF
Rollover Utilisation
shall in
all other
respects be subject
to the terms
of this General
Banking Facility
Agreement (as
if it were a utilisation
of
a Facility originally made by the Borrower under this General Banking Facility
Agreement).
10.
PRICING AND COMMITMENT
FEES
10.1.
Pricing (including applicable interest rates, commitment fees and other pricing) will be in accordance with
the Bank's usual
fees in force
from time to time,
save to the
extent that the Bank
and the
Borrowers have
agreed otherwise in terms of a written pricing schedule or agreement
(“t
he Pricing Letter
”).
10.2.
Commitment Fee effective date: where
a commitment fee is
payable on any Facility
in accordance with the
terms of
this General
Banking Facility
Agreement or
a separate
Pricing Letter,
such fee
is effective
and
payable from the date the
Bank makes the Facility
available to the Borrower.
This applies
equally to
any
increase,
temporary
increase
or
seasonal
increase
and
temporary
facility
which
the
Bank
may
make
available.
10.3.
The initial pricing on the Facility listed in clause 1.1 above will be set out below, but subject to the Bank’s
annual pricing review:
Interest Rate:
Prime Rate less
50bps
(fifty basis points).
In
this
regards
“Prime
Rate”
means
the
interest
rate
from
time
to
time
published
by
the
Bank
as
being
its
prime
overdraft rate,
calculated
on
a
365
(three
hundred
and
sixty-five)
day
year
irrespective
of
14
whether the
applicable year is
a leap
year,
as certified by
any manager
of
the Bank, whose
appointment and
designation need
not be proven.
Interest
will
be
levied
at
the
Interest
Rate
and
compounded
monthly.
Interest
shall
be
calculated
on
the
daily
outstanding
balance
and
capitalised monthly in arrears.
Commitment Fee:
70bps
(seventy
basis
points)
per
annum
(excluding
VAT),
where
utilisation
of
this
Facility
is
less
than
90%,
will
be
calculated
daily
and
payable monthly in arrears.
Annual Review Fee:
15bps
(fifteen basis points)
excluding VAT.
Capital Holding Fee:
94bps
(ninety four basis
points) (excluding VAT)
per annum, on
the
Facility
Amount
as
described
in
clause
1.1
above,
calculated
daily
and
payable monthly in arrears.
11.
ACCEPTANCE
Although the Bank intends to review the Facilities
annually, the Bank may conduct the review at any time.
This
General
Banking
Facility
Agreement,
if
accepted,
will
be
in
substitution
of
and
not
in
addition
to
all
previous
Facility
Letters
provided
to
the
Borrowers,
including
but
not
limited
to
the
Existing
GBF
Agreements;
Please acknowledge your agreement to the above by signing the two originals of this General Banking Facility
Agreement and
initialling the
GTC’s
and returning
one of
each to
us. You
should retain
the
other duplicate
original for yourself.
This
General Banking
Facility Agreement
may
be executed
in any
number of
counterparts, and
this has
the
same
effect
as
if
the
signatures
on
the
counterparts were
on
a
single
copy
of
the
General
Banking
Facility
Agreement.
We
thank you for your
support and look forward to
conducting business with you in
future. Yours
faithfully
15
For and behalf of:
FirstRand Bank Limited
(acting through its Rand
Merchant Bank division).
/s/ Wally Laurens
/s/ Kedy Mazibuko
Authorised signatory
Authorised signatory
Accepted at ….CAPE TOWN....………………...........
this …27…….. day
of February
2025.
For and on behalf
of: Lesaka Technologies Proprietary Limited (Reg. No.
2002/031446/07)
Naeem Ebrahim Kola
Full name of duly
authorised signatory
Full name of
duly authorised signatory
GCOO
Capacity / Office
Capacity / Office
/s/ Naeem Ebrahim Kola
Signature (who warrants
his/her authority)
Signature (who
warrants his/her authority)
16
For and on behalf
of: Cash Connect Management
Solutions Proprietary Limited (Reg. no.
2006/010530/07)
Naeem Ebrahim Kola
Full name of duly
authorised signatory
Full name of
duly authorised signatory
GCOO
Capacity / Office
Capacity / Office
/s/ Naeem Ebrahim Kola
Signature (who warrants
his/her authority)
Signature (who
warrants his/her authority
For and on behalf
of: Easy Pay Financial
Services Proprietary Limited (Reg.
No.
1998/020799/07)
Naeem Ebrahim Kola
Full name of duly
authorised signatory
Full name of
duly authorised signatory
GCOO
Capacity / Office
Capacity / Office
/s/ Naeem Ebrahim Kola
Signature (who warrants
his/her authority)
Signature (who
warrants his/her authority
17
For and on behalf
of: Adumo (RF) Proprietary
Limited (Reg.
No. 2017/540380/07)
Daniel Luke Smith
Full name of duly
authorised signatory
Full name of
duly authorised signatory
Director
Capacity / Office
Capacity / Office
/s/ Daniel Luke Smith
Signature (who warrants
his/her authority)
Signature (who
warrants his/her authority
For and on behalf
of: EasyPay Proprietary Limited
(Reg.
no. 1983/008597/07)
Naeem Ebrahim Kola
Full name of duly
authorised signatory
Full name of
duly authorised signatory
GCOO
Capacity / Office
Capacity / Office
/s/ Naeem Ebrahim Kola
18
For and on behalf
of: Main Street 1723
Proprietary Limited
(Reg. no. 2019/300711/07)
Naeem Ebrahim Kola
Full name of duly
authorised signatory
Full name of
duly authorised signatory
GCOO
Capacity / Office
Capacity / Office
/s/ Naeem Ebrahim Kola
Signature (who warrants
his/her authority)
Signature (who
warrants his/her authority
For and on behalf
of: Cash Connect Rentals
Proprietary Limited (Reg. no.
2009/007139/07)
Steven John Heilbron
Full name of duly
authorised signatory
Full name of duly
authorised signatory
Director
Capacity / Office
Capacity / Office
/s/ Steven John Heilbron