Lagos – Nigerian fintech giant, eTranzact International Plc, has posted a robust N5 billion pre-tax profit for the year ended December 31, 2024, representing a 53.2% increase from the N3.1 billion recorded in 2023.
According to the company’s audited financials released on the Nigerian Exchange Limited, revenue rose to N29.8 billion, while profit from core operations surged by 48.8% to N4.6 billion. The impressive performance reflects the company’s strategic expansion and strengthened operational efficiency.
Shareholders reaped the rewards of this growth, as earnings per share jumped by 54.2%, rising from N0.24 to N0.37. In line with the performance, the company declared a final dividend of 12.5 kobo per 50 kobo share, payable to qualified shareholders.
One of the standout highlights of the report is eTranzact’s balance sheet recovery, with retained earnings climbing to N2.8 billion, reversing a negative balance of N496.6 million from the previous year. This dramatic shift signals a firm turnaround and a stronger financial footing.
Strategic Vision and Market Expansion
Commenting on the results, Managing Director Niyi Toluwalope expressed optimism about the company’s future.
“Surpassing the N5bn pre-tax profit mark is a significant milestone for us. It speaks to the dedication of our team, the effectiveness of our strategic investments, and the growing trust our customers and partners place in our brand,” he said.
Toluwalope emphasized that eTranzact is positioning itself as a top fintech force in Africa, expanding its partnerships with financial institutions and onboarding more fintech players into its ecosystem.
Looking forward, he outlined the company’s three-pillar strategy:
- Enhancing financial infrastructure for banks and government partners.
- Supporting SMEs with customized fintech solutions to drive growth.
- Scaling direct-to-consumer services, including repositioning its PocketMoni platform as a leading digital banking solution for Nigerians.
eTranzact’s performance cements its place as a major player in Nigeria’s booming fintech landscape, and its continued innovation signals greater competition and progress for digital financial services across the region.
