eTranzact focuses on merchant acquisition, direct to consumer market
eTranzact Plc
eTranzact focuses on merchant acquisition, direct to consumer market
Nike Popoola
The Chief Executive Officer of eTranzact, Niyi Toluwalope, has articulated a clear and ambitious strategy for the fintech company tagged, ‘ENGAGE AND WIN’ with stakeholders in a recent address.
A statement said this vision is built on three core pillars which are Full Service Switching, Merchant Marketplace Play, and Direct to Consumer Play.
The announcement came during eTranzact’s participation in the Nigerian Stock Exchange (NGX) “Facts Behind Figures” webinar, where the company’s robust financial performance and strategic direction were laid out to investors and stakeholders.
The webinar, a significant platform for credible companies listed on the stock exchange to communicate their strategic initiatives and financial outlook, featured eTranzact’s executive management team.
NGX MD/CEO, Mr. Jude Chiemeka, commended eTranzact’s management, highlighting the importance of such events in bolstering investor confidence through transparency and accurate information.
Leading the presentation, Toluwalope revealed eTranzact’s impressive transaction growth, citing a transaction volume of N79tn in 2023, a remarkable 40% increase from the previous year.
He emphasized the company’s consistency in transaction processing, boasting a 99.5% success rate and a maximum processing speed of 1.2 seconds per transaction.
Chief Financial Officer, eTranzact Plc, Emmanuel Ogunji, provided further insights into the company’s financial health, reporting significant growth in cash and cash equivalents from N11.5bn in 2022 to N19.6bn in 2023.
He also highlighted a gross revenue growth of N33.9bn, a 50% increase, and a net revenue of N9.2bn, a 51% rise from 2022. The company’s gross profit for FY 2023 stood at N8.3bn.
Toluwalope affirmed, “Our strategy is to continually engage our stakeholders and win their trust through exceptional service and innovative solutions. We are committed to driving growth and delivering value to our investors.”
The “Facts Behind Figures” webinar not only showcased eTranzact’s strong financial health but also its strategic vision for future growth. The management team outlined plans to expand service offerings and enhance technological infrastructure, ensuring eTranzact maintains its competitive edge in the fintech industry.
As the only super fintech and payment switching platform listed on the Nigerian Stock Exchange, eTranzact continues to lead the market with its innovative solutions and unwavering commitment to excellence
