eTranzact’s Financial Performance and Strategic Growth in 2024
eTranzact International Plc, a leading African financial technology platform listed on the Nigeria Exchange Group, has announced remarkable financial results for the year ended December 31, 2024. The company achieved a pre-tax profit of N5 billion, representing a substantial 53.2% year-on-year growth compared to N3.1 billion in 2023. This significant increase underscores the company’s accelerating profitability and successful execution of its strategic expansion initiatives. The impressive financial performance is also reflected in the company’s revenue growth, which surged to N29.8 billion, and a 48.8% increase in profits from core operations, reaching N4.6 billion. This positive trajectory showcases the company’s operational efficiency, improved profitability, and effective management.
eTranzact’s success is further highlighted by the substantial improvement in earnings per share (EPS), which rose by 54.2% from N0.24 to N0.37. This significant increase rewards shareholders and demonstrates the company’s commitment to delivering value. In addition to its strong earnings performance, eTranzact announced a final dividend of 12.5 kobo per 50 kobo share, payable to registered shareholders. Furthermore, the company has achieved a remarkable balance sheet recovery, with retained earnings surging to N2.8 billion, a significant turnaround from a negative balance of N496.6 million in 2023. This positive shift reinforces the company’s strengthened financial position and sets the stage for sustained growth.
Niyi Toluwalope, Managing Director of eTranzact International, expressed confidence in the company’s transformation and future prospects. He attributed the impressive performance to the dedication of the team, the effectiveness of strategic investments, and the growing trust from customers and partners. Toluwalope emphasized that surpassing the N5 billion pre-tax profit mark is a significant milestone, demonstrating the company’s commitment to scaling its operations and delivering greater value. Beyond the impressive financials, eTranzact continues to solidify its position as a leading force in Nigeria’s fintech sector. The company has expanded its service footprint by onboarding more financial institutions and fintech partners, further strengthening its ecosystem influence.
eTranzact’s vision is to become the preferred integrated financial technology platform for both merchants and consumers. This vision is driven by three core strategic pillars. The first pillar focuses on deepening the company’s commitment to delivering advanced and reliable financial technology infrastructure to the financial services sector and government partners. eTranzact recognizes the crucial role of small and medium-sized enterprises (SMEs) in Nigeria’s economy and is actively extending its fintech capabilities to support their growth and scalability by offering tailored solutions to meet their unique financial needs. This focus on SMEs aligns with the company’s strategic goal of empowering businesses and fostering economic development.
The second strategic pillar centers on empowering SMEs through tailored fintech solutions. Recognizing the significant contribution of SMEs to the Nigerian economy, eTranzact is committed to providing them with the necessary tools and resources to thrive. These solutions are designed to address the specific challenges faced by SMEs, enabling them to improve their financial management, access capital, and expand their operations. By empowering SMEs, eTranzact aims to contribute to job creation and economic growth in Nigeria. This strategic focus underscores the company’s commitment to social impact and its recognition of the interconnectedness of business success and economic development.
The third pillar focuses on the direct-to-consumer market. eTranzact plans to reposition its PocketMoni brand as a leading digital bank for Nigerians, aiming to capitalize on the growing demand for accessible and seamless financial services. This strategic move will allow the company to connect directly with consumers, offering them a comprehensive suite of digital banking solutions. The focus on the consumer market represents a significant expansion of eTranzact’s reach and aligns with the increasing adoption of digital financial services in Nigeria. By providing convenient and accessible banking solutions, eTranzact aims to empower individuals and contribute to financial inclusion. This strategic initiative reflects the company’s understanding of the evolving needs of consumers and its commitment to providing innovative solutions that meet those needs.
In conclusion, eTranzact’s exceptional financial performance in 2024, coupled with its strategic focus on key market segments, positions the company for continued growth and success. The company’s commitment to delivering advanced fintech infrastructure, empowering SMEs, and providing consumer-centric digital banking solutions reinforces its position as a leader in the African fintech landscape. As eTranzact continues to execute its strategic vision, it is poised to further solidify its role as a key driver of innovation and financial inclusion in the region. The company’s dedication to providing value to its stakeholders, including shareholders, customers, and partners, sets the stage for sustained growth and positive impact on the Nigerian economy.
