eTranzact Records 20% Growth in Revenue

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  • eTranzact Records 20% Growth in Revenue

eTranzact has posted N10.4bn gross revenue for the year 2016, representing a 20 per cent growth compared to 2015.

The executive and non-executive members of the company’s Board of Directors, led by the Chairman, Mr. Felix Ohiwerei, and the Founder and Chief Executive Officer, Mr. Valentine Obi, stated this on Friday.

eTranzact is the e-payments solution provider delivering electronic transaction switching and payment processing solutions across Pay on Service, web, mobile, Automated Teller Machines and cards.

“The company’s operating profit for 2016 was N620m and profit before tax was N449.4m. The board of directors approved the payment of a 10 kobo dividend to shareholders for the period,” Obi told our correspondent.

The eTranzact CEO also said, “The key drivers of eTranzact’s growth in 2016 were strengthened collaboration with partner banks, with major innovations across its mobile banking suite, new product releases and strategic alliances.”

According to him, the payment solution provider has taken steps to increase profitability of new relationships, enhance and deepen existing ones, and explore new partnerships locally and internationally.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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