Araxi CEO Bradley Sacks said In May 2026, Araxi acquired an 80% stake in the Pay@ Group. The transaction marked a significant milestone in the group's evolution and provided further momentum for growth.
Araxi, known formerly as Capital Appreciation, ended the year to March 31 operationally and financially in a much better position than the previous year, contrary to what its financial results may suggest, CEO Brad Sacks said Tuesday.
Strong cash generation across the underlying businesses fueled a 25% increase in cash from operations to R259 million for the year. A robust performance enabled Araxi to declare stable dividends of R155m (12 cents per share) for the year. This was despite completing the R1 billion Pay@ transaction in May and maintaining adequate resources to fund growth opportunities.
Sacks said revenue and profitability in the year were negatively impacted by both national and global economic headwinds, including a worldwide shortage of microchips.
The microchip shortage had delayed the delivery of terminals and had also resulted in increased costs. More positively however, recurring revenue in the Payments operations increased significantly, with terminal license fees up 31%.
