Weaver Fintech has reported a 10% increase in group revenue to R2.8 billion for the six months ended June 2026, supported by strong growth in payments, lending and fee-based income.
The JSE-listed fintech group’s trading profit rose 2.5% to R578 million, while profit after tax fell 9.9% to R272 million. Headline earnings per share declined 10% to 256.5 cents.
The board did not declare an interim dividend, opting to preserve capital as the group manages credit pressures and invests in higher-return fintech opportunities.
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Payments emerge as key growth driver
Fintech revenue increased 30% to R2.1 billion, with payments revenue surging 88% to R432 million. Gross merchandise value rose 76% to R5.1 billion, reflecting higher transaction volumes and merchant activity.
PayJustNow’s Pay-in-3 offering remained an important entry point into the ecosystem, while transactions through the PayStretch Pay-in-12 product increased 286%.
Fee income rose 43.4% to R833 million and now accounts for 40% of fintech revenue, up from 37% a year earlier.
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Credit pressures weigh on earnings
Weaver said tougher economic conditions and collection challenges affected credit performance. Group debtor costs increased 44.2% to R1.2 billion as the company raised provisions and recorded higher write-offs.
The group responded by reducing lending growth to 10% from 30% a year earlier, cutting approval rates to 75.8% and reducing credit-limit exposure by R700 million.
Despite the pressure, customer numbers increased 17% to 5.1 million, while customers using two or more products rose 29%.
Retail revenue declined 22% to R786 million, but trading profit increased 15% to R36 million as the group focused on profitability and cash generation.
Weaver expects payments, cross-selling, merchant integration and a new advertising platform to support growth in the second half of 2026.
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