Araxi is a JSE-listed technology enterprise operating across payments and software

We build and scale businesses that simplify complexity —helping financial institutions and enterprises deliver better outcomes for their customers.

What sets us apart

Well capitalised —
Financial strength enabling strategic growth and sustained innovation
Seasoned leaders —
Decades of fintech expertise guiding disciplined execution
Strategic partnerships —
Deep relationships with world-class technology and financial partners

Learn more about our change from Capital Appreciation to Araxi

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Our growth story

Key milestones in our history

2015
  • October: Listed on the JSE as Capital Appreciation SPAC, raising R1 billion
2017
  • May: Acquired 100% of African Resonance, Dashpay, Synthesis, and 17.45% of Resonance Australia
  • May: Migrated to Software and Computer Services sector
  • November: Maiden dividend declared
2019
  • May: Exclusive distribution agreement for Newland payment devices
  • September: Acquired IP rights, sold 17.45% in Resonance Australia
2021
  • January: Invested 27.4% in LayUp
  • March: Launched Halo Dot
  • June: International division established in Amsterdam
2022
  • March: Acquired Responsive technology group
  • May: Subscribed for 20% of Regal Digital (Netherlands)
2023
  • July: Acquired Dariel group
  • June: Provided convertible loan to AssetPool
2024
  • March: Exceeded R1 billion in revenue
2025
  • Araxi becomes Araxi

Executive team

Experienced executives with decades of fintech expertise, guiding
strategic vision and disciplined execution.

Leadership

Michael Pimstein
Executive Chairman
BComm Acc (Wits)
Michael initially served as Araxi's Co-CEO together with Brad Sacks, prior to assuming the Chairmanship of the Company in March 2023.

He has more than 30 years' experience as a senior executive in the steel, engineering and manufacturing sector having served as CEO of Macsteel Service Centres SA for 15 years from 1999 through 2013. Michael has been a member of various government, labour and business committees that covered industrial policy, growth and development plans, infrastructure requirements and investment, labour mediation and wage negotiations. Michael has served as President of the Steel and Engineering Industries Federation of Southern Africa, President of the Southern African Stainless Steel Development Association and President of the Association of Steel Service Centres. He served on the advisory committee of the Adopt-A-School Foundation.
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Bradley Sacks
Chief Executive Officer
BEconSc (Wits), MBA/JD Hons (Duke University School of Business and School of Law)
Bradley has more than 25 years' experience in the financial services and investment business. Bradley is the Managing Partner of Centric Capital Ventures LLC, a private investment firm based in New York. Previously Bradley was a Managing Director, Global Head of Technology, Media and Telecommunications Mergers & Acquisitions for Bank of America. Bradley was also an investment banker with Citigroup, having started his investment banking career at Salomon Brothers. Bradley started his professional career as an associate in the corporate department of Fried, Frank, Harris, Shriver & Jacobson, a law firm based in New York.

Over the course of his career, Bradley has been involved in evaluating, advising and investing in strategic and financing transactions with an aggregate value exceeding US$100 billion.
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Sjoerd Douwenga
Chief Financial Officer
BComm Acc, BComm Acc (Hons), CTA, CA (SA)
Sjoerd is an experienced international business and finance executive across consulting, corporate and operational roles. He has more than a decade of listed board-level experience and has held numerous non-executive directorship roles across multiple industries. He was appointed as Group CFO at Araxi Limited on 31 December 2024 and previously led Metair Investment Limited as Group CEO and CFO, where he shaped long-term strategy, governance and performance frameworks.

He blends financial expertise with commercial insight and operational rigor, and has also driven numerous high-impact M&A and value enhancement mandates.

A collaborative, results-driven leader, he excels at cross-cultural stakeholder management, execution excellence and creative problem solving—partnering with C-suite teams to translate vision into sustainable value.
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Board of Directors

Michael Shapiro
Head of Software Division and Executive Director
BSc Hons in Electrical Engineering (Wits)
Michael is Head of the Software Division, which includes the following businesses: Synthesis Software Technologies, Responsive Tech, Responsive Digital, Rethink Digital, and Dariel Software. Michael has over 27 years' experience in the technology and software sector. Prior to joining Synthesis in 2003, Michael held various senior positions at Internet Solutions and Dimension Data. He has a strong interest in the FinTech sector and a deep understanding of how emerging technologies are shaping financial services and other vertical markets. As an Executive Director of Araxi, he plays a significant role in the future technical development of the Group and will continue his executive position within the Software Division.
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Kuseni Dlamini
Lead Independent Non-Executive Director
BA Hons (UKZN), MPhil (Oxford)
Kuseni is the Chairman of Alexander Forbes Group Holdings Limited, Aspen Pharmacare Holdings and Sandvik Mining RSA. Kuseni is the former Chairman of Massmart Powered by Walmart, former CEO of Old Mutual South Africa and Emerging Markets and was also the Head of Anglo American South Africa, Member of the Executive Committee of Anglo American plc in London and a Director of Anglo American Platinum. He is a former Chairman of the Council of the University of Pretoria, current Co-Chairman of the Advisory Board of the Gordon Institute of Business Science (GIBS) and a former Chairman of the Board of South African National Parks (SANParks). Kuseni is a graduate of the University of KwaZulu-Natal where he graduated with a BA (Hons) and Oxford University where he graduated with an MPhil and was also a Rhodes Scholar.
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Rorisang (Roxy) Maqache
Non-Independent Non-Executive Director
BBA (UK), CM (SA)
Roxy Maqache is the Founder of Desert Arabia Investments - an investment company with interests in Research & Strategy Consulting and Luxury Grooming. She is a Chartered Marketer, a seasoned Business Insights Specialist and a Spiritual Coach. Roxy participated in numerous qualitative and quantitative market research and Mergers & Acquisitions projects across the African continent and other emerging markets such as Latin America and Asia and comes with a broad understanding of international business, cross-border markets and cultural insights. With blue chip companies such as Tiger Brands, Unilever, RMS Nigeria & UK and Jupiter Drawing Room under the belt, her previous roles encompassed Corporate & Communication Strategy framework; Marketing Due Diligence Lead on Mergers & Acquisitions; macro-economic Business Intelligence and strategic insight delivery to the Board, EXCO and other senior leadership members. In addition to her CM professional designation, she holds a BBA Degree in Marketing and an Associate of Science Degree in International Business, both from Schiller International University in England, as well as a Business Leadership certificate from Lagos Business School in Nigeria.
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Bukelwa Bulo
Independent Non-Executive Director
BBusSc (Business Finance Honours) (UCT), PGDA (UCT), CA (SA)
Bukelwa is a co-founder and executive director of Jade Capital Partners, a principal investment firm with a focus on the property (including property services) and the private equity sectors. Bukelwa has over 20 years in the investments sector having spent 12 years at Investec Bank's Private Equity division before founding Jade Capital Partners in 2013. Whilst at Investec, she was intimately involved in various investments made by Investec in companies in the hospitality, quick service restaurant, industrial services, engineering, retail and wholesale sectors. Bukelwa is currently an independent non-executive director of Netcare Limited, Sephaku Holdings Limited and Hudaco Limited. Bukelwa also completed the requirements of the Charter of Financial Analysts and completed the Program for Leadership Development at Harvard Business School.
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Victor Sekese
Independent Non-Executive Director
BComm, B Acc (Wits), MSc (University of London), CA (SA)
Victor is a seasoned businessman and professional with over 33 years of experience. He is the Chief Executive Officer of a professional services firm, SNG Grant Thornton and a former board member of Grant Thornton International.

He previously served as a national vice chairman of the South African Institute of Chartered Accountants (SAICA) and the chairman of the Senior Partner Forum. His interest in the profession and development of young people led to his ascension in the past to the presidency of the Association for the Advancement of Black Accountants (ABASA). SAICA recognised him in 2023 through the Chairman's Difference Makers Award. This is for his contribution to the profession, leaving an enduring legacy that inspires future generations.

Victor's business and professional experience spans across many industries, including information technology, telecommunications, manufacturing, energy, transport and logistics.
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Amanda Dambuza
Independent Non-Executive Director
BA (Wits), Project Manager Professional (PMI), Organisational Leadership through Duke Corporate Education
Ms. Dambuza is a seasoned technology expert and is the Chief Executive Officer of UYANDISWA, a management and technology consulting firm, which she founded in 2013. Ms. Dambuza has enjoyed a strong and lengthy career in Information Technology, within the Financial Services and Banking industries spanning over 24 years.

She is currently an independent non-executive director of listed REIT Redefine Properties Limited. She also sits on the private boards of, Dynamic Visual Technologies, Inspired Testing and CloudSmiths. Ms Dambuza was previously the Independent Chairperson and Lead Independent non-executive Director of Grindrod Bank Limited and Financial Services Director of then-listed Adapt IT Limited.

Ms. Dambuza has a Bachelor of Arts (Wits), Project Manager Professional® (PMI), Organisational Leadership through Duke.

Corporate Education, amongst several other qualifications in the field of technology and project management.
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Our impact

B-BBEE

Araxi is a proud Level 2 B-BBEE contributor with 30.68% black economic ownership and 37.98% voting rights.

Our commitment to transformation extends throughout our enterprise – each subsidiary maintains independent B-BBEE certification, with Synthesis achieving Level 1 status.

Broad-based economic empowerment isn't just compliance – it's fundamental to how we build sustainable value through skills development, financial inclusion initiatives, strategic procurement, and social investment.

ESG

We recognise the impact our activities have on society and the environment. Our commitment to responsible business practices guides how we operate – balancing economic growth with social and environmental responsibility.

From contributing to socio-economic transformation in the communities where we operate, to maintaining workplaces that attract and retain exceptional talent, to managing our environmental footprint – we're building an enterprise that creates value responsibly.