Mauritius, 12 August 2025: Weaver Fintech Ltd (JSE: WVR) has posted a 48% increase in profit before tax of R370 million (H1 24: R250 million), and a 29% growth in revenue to R2.6 billion (H1 24: R2 billion) for the period ending 30 June 2025.
This is according to the group’s first interim results announcement following the change of name from Homechoice International (JSE: HIL) to Weaver Fintech last month. Weaver Fintech’s profit surge reflects the significant growth of the Fintech division which accounts for 98% of group profit before tax and is the primary driver of growth. The Retail division similarly reports a 63% increase in operating profit.
Weaver Fintech serves more than 3.7 million customers (up 48% on H1 24) – 70% of which are tech-forward African women. The group currently acquires an average of 130 000 customers a month.
Weaver Fintech’s fee income grew by 47%, now making up 28% of total revenue (H1 24: 25%). The group’s books remain highly cash generative: cash collections increased 47% to R7.7 billion (H1 24: R5.2 billion), demonstrating resilience and efficiency in the digital collections model.
“We’ve doubled down on tech investments that are allowing us to reshape the group with efficient processes that enhance customer experience on our digital platforms. Our adoption of AI is enabling effective fraud reduction, improved risk assessment, and operational and engineering improvements that allow the business to continue on a profitable growth trajectory,” says Sean Wibberley, CEO of Weaver Fintech.
The Fintech division continues its growth trajectory with a CAGR since 2021 exceeding 30% in both revenue and profits. Revenue is up 39% to R1.6 billion (H1 24: R1.1 billion). Fee income has grown 43% to R581 million (H1 24: R406 million). The strong growth in fee revenue, along with cost e`iciencies from a scaling digital business, has seen the division deliver a 46% increase in profit before tax to R402 million (H1 24: R275 million).
The trading brands Finchoice and PayJustNow continue acquisition of more than 110 000 new customers per month. More than 3.3 million customers have signed-up to the fintech ecosystem, where product adoption across lending, payments and insurance verticals is growing rapidly. This has resulted in a 20% increase in customers with two or more products. The Fintech division notes a twelve-fold ARPU increase for customers owning three or more products compared to single product customers.
The fintech ecosystem is on a journey to offer advanced B2B merchant services to its network of more than 3 100 merchants – creating further growth opportunities for the group. With 496 million customer interactions and 20 million lead referrals in the first 6 months, the payments vertical enjoys strong merchant growth and engagement.
New product innovations are in development, including additional insurance and payment o`erings that are set to launch in the second half of 2025.
The group’s Retail division – omni-channel homeware retailer, Homechoice – reported a double-digit sales increase of 12% to R677 million (H1 24: R604 million), along with a 63% increase in operating profit to R31 million (H1 24: R19 million). The Retail division realised a 38% increase in new customers, with 131 000 new customers acquired in the six month period ending 30 June 2025.
Homechoice’s showroom expansion contributed 29% (H1 24: 21%) to total retail sales, trading from 46 showrooms (H1 24: 22) across seven provinces. Ten showrooms were opened in the first six months of 2025, and a further 12 showrooms are planned for the second half.
Homechoice’s strategic focus on its heritage bedding and textile merchandise resulted in increased sales of these products, with a contribution of 62% (H1 24: 60%).
- Customers up by 48% to 7 million.
- Revenue up 29% to 6 billion.
- Profit before tax up 48% to R370
- Cash collections up 47% to 7 billion.
- Earnings per share up by 45% to 5 cents.
- Interim dividend declared: 140 cents per share (up 47%).
“Our results show how deeply our ecosystem resonates with customers and merchants. We are not just scaling – we’re transforming how financial services are accessed and experienced across South Africa. With a strong foundation in tech and data and a rapidly expanding customer base, the group is poised for continued profitability, innovation, and long- term impact in digital financial inclusion,” concludes Wibberley.
