- Revenue milestone:5 billion, up 23%
- Trading profit:1 billion, up 41%.
- Fintech ROE: 27.0%, up 610bps
- Headline earnings per share (HEPS):7 cents, up 40%
- Full year dividend: 272.0 cents per share, up 42%
- Fintech cash collections:2 billion, exceeding cash deployed (disbursements & GMV) of R14.7 billion
- Liquidity:5 billion in cash and undrawn facilities
- Customer base:3 million, adding 120 000+ new sign-ups monthly; 70% women, 64% Millennials/Gen Z.
Weaver Fintech Ltd (JSE: WVR) today announced excellent financial results for the year ended 31 December 2025. The group increased revenue by 23% to R5.5 billion. Group trading profit (before one-off, non-cash Retail impairment) grew 41% to R1.1 billion, driven almost entirely by the continued performance of the Group’s fintech business, with a contribution of 93%. The Group now serves more than 4.3 million customers, and adds more than 120 000 new fintech sign ups every month.
“Our fintech ecosystem continues to deliver exceptional growth through the expansion of high margin revenue streams and the engagement of our large active customer base, coupled with the low cost of digitally acquiring new customers. We are scaling responsibly, investing in technology, and deepening customer relationships, while maintaining stable credit risk management to deliver sustainable margin expansion. The Fintech business has a sizeable opportunity to grow market share across its payments, lending and insurance products.” says Sean Wibberley, CEO of Weaver Fintech.
Headline earnings per share rose 40% to 552.7 cents, and the board declared a final dividend of 132.0 cents per share (272.0 cents in total for the financial year, up 42%).
Weaver closed the year with strong liquidity, supported by R1.5 billion in cash and undrawn facilities. Fintech’s cash collections increased 45% to R15.2 billion, and is consistently higher than cash deployed (disbursements & GMV) of R14.7 billion reflecting the short term nature and fees mix of Weaver’s credit portfolio.
The group successfully refinanced and increased interest-bearing funding lines from R3.75 billion to R5 billion, strengthening liquidity to support the scaling of the fintech ecosystem.
The allocation of capital to support the Group’s strategic shift towards fintech has delivered another year of exceptional performance as the Fintech division – comprising Payments, Lending and Insurance verticals – grew revenue by 36% to R3.4 billion. Of that, fee revenue grew 39% to R1.3 billion.
Weaver’s high-engagement fintech platform now serves 3.4 million app users (up 73%), performing 7 million digital transactions annually (up 52%). The Group’s investment in the user experience (UX), coupled with its direct marketing and funnel conversion expertise is delivering significant competitive advantage.
The Payments and Insurance verticals continue to lead fee-based growth.
The payments ecosystem (driven by PayJustNow’s Buy Now, Pay Later (BNPL) product) scaled rapidly with gross merchandise value (GMV) increasing 80% from FY2024. Since BNPL’s inception R13.1 billion GMV has been traded and 9.4 million transactions processed cumulatively.
The platform’s continued onboarding of top tier retailers, including major national brands such as Takealot and Shoprite, has strengthened its marketplace, supporting growth to 3 450 merchants and 12 300 points of presence. PayStretch™ (also referred to as Pay-in-12), the digital payment product launched in 2024 to enable customers to finance larger value purchases at the point of sale over a 12-month period, gained traction in the Black Friday promotions and December peak shopping period. PayStretch GMV increased 5x year-on-year to a cumulative R320 million by year end.
Customer growth and engagement remain a standout result, with the Fintech customer base expanding 45% to 4 million. The ecosystem digitally acquires more than 120 000 new sign-ups every month at a customer acquisition cost of only R57. BNPL remains the most popular entry point for Gen Z and Millennial customers, who make up 64% of the customer base. BNPL transactions in South Africa are expected to double in growth in 2026, with Weaver Fintech well-positioned for the increased adoption.
The shopping platform also expanded as a major engagement channel, delivering 7.3 million monthly app logins and contributing to a 170% increase in B2B revenue, as Weaver monetises the platform to direct high-intent consumers with shopping power to our merchant partners, driving increased sales, new customers and strong returns on their advertising spend.
Lending remained a core engine of the Fintech ecosystem, with loan disbursements rising to R7.6 billion, with 88% advanced to proven existing customers, underpinned by stable credit performance, resilient collections and continued strong demand for our credit-backed wallet, FinChoice MobiMoney™. 79% of the Weaver book is now in Stage 1 and displaying stable credit performance.
The Insurance vertical delivered another year of solid expansion, with gross written premiums increasing by 21%, supported by the launch of new funeral and accident products that are expected to accelerate growth into 2026. Digital acquisition accelerated sharply, with online channels now accounting for 49% of policy sales, up from 20% in 2021.
Product penetration deepened in the ecosystem, with multi-product customers increasing 28% year-on-year and averaging 2.6 active products each. In our innovation pipeline, Weaver will be launching a virtual mobile network operator business in 2026 to offer our growing 4 million customer base discounted data and airtime packages and rewards to drive engagement and loyalty. Next in 2027 Weaver Fintech will be launching a PayJustNow debit card in partnership with a bank to facilitate convenient access of the Group’s payments products at the till.
Revenue from the Homechoice Retail division grew 6% to R2.0 billion, with an impactful shift in retail strategy. Trading profit rose 32%, despite a softer second half as the retail division deliberately tightened credit to improve return on assets and reduce risk.
The business has been restructured to drive double-digit operating margins, with the future focus on cash generation through reduced credit terms. As the division transitions to a more cash generative and asset efficient model, a R244 million non-cash, one-off impairment cost was recognised at year-end to align the value of Retail assets with the new strategy.
Showrooms are the key growth driver in Retail delivering high customer engagement and a full service offering. The expansion of the showroom network from 37 in 2024 to 60 locations in 2025 has supported a 24% increase in showroom sales. 44% of new customers are acquired via showrooms (2024: 32%).
Chris de Wit, CEO of Homechoice, says: “This year we took deliberate steps to strengthen the quality and profitability of our Retail business. While tighter credit impacted second half growth, the shift positions us for healthier returns in 2026. Our expanded showroom network continues to drive strong customer acquisition and supports a more modern, customer centric retail model.”
