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eTranzact grows revenue by 22%, to diversify operations

By Adeyemi Adepetun
05 July 2016   |   1:06 am
Electronic payment platform, eTranzact International Plc, has posted a 22 per cent gross revenue growth for the financial year ended 2015.
Company Secretary, Omowunmi Adedurotimi (left); Chairman, Felix Ohiwerei; and Managing Director /Chief Executive Officer, Valentine Obi, during the 12th yearly general meeting of eTranzact International Plc in Lagos.

Company Secretary, Omowunmi Adedurotimi (left); Chairman, Felix Ohiwerei; and Managing Director /Chief Executive Officer, Valentine Obi, during the 12th yearly general meeting of eTranzact International Plc in Lagos.

• Declares 10k dividend per share

Electronic payment platform, eTranzact International Plc, has posted a 22 per cent gross revenue growth for the financial year ended 2015.

The firm claimed that its gross revenue for the year 2015 was N8.7 billion representing a 22 per cent growth compared to 2014. It disclosed that its operating profit grew from N380 million in 2014 to N851 million in 2015 representing a 124 per cent yearly growth.

eTranzact Profit Before Tax (PBT) grew by 76 per cent from 2014 performance while Profit after tax(PAT) grew by 73 per cent compared to 2014’s performance.

There was also a declaration of dividend of 10 kobo per share to shareholders.

These were major highlights of eTranzact’s 12th yearly general meeting, held at the weekend in Lagos.

According to the Chairman of eTranzact, Felix Ohiwerei, the firm consolidated its dominance in key sectors of the industry in 2015, actively driving financial inclusion while meeting its key goal of delivering sustainable returns to shareholders.

Ohiwerei, who was re-elected as Chairman of the board, said: “As a company, we pride ourselves as one of the pioneer organizations in the business of electronic and mobile payment technology in Africa, and as such, we continue to hold ourselves to very high professional, ethical, technical and operating standards. We remained resilient as we improved our business performance whilst managing the impact of various macroeconomic challenges.

“As we position our business and operations to take advantage of various opportunities in the industry, we will continue to align our processes and operating standards with global best practices which is required of businesses such as ours”, he stressed, adding that the firm is looking at new areas for business development.

Also speaking, the Founder and Chief Executive Officer (CEO), eTranzact International Plc, Valentine Obi, appreciated the board, management and staff of eTranzact for continued innovation, drive and commitment to the vision and mission of the company.

“We have experienced consistent growth in revenue and profitability over the last three years. Key to our growth has been a renewed product and customer focus setting key performance indexes around user experience, platform stability and technology development, and we plan to continue doing this.

“We promise to continue to make payments simple, and innovating and creating solutions that transform the lives of people in Africa”.

Obi disclosed that key growth drivers were strengthened in collaboration with partner banks in driving mobile banking business; strategic alliances with International money transfer operators which is driving growth of remittance business; alliances with government agencies, parastatals and educational institutions which is driving bulk payments; central collection; and, transaction switching and processing business.

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