eTranzact International Plc Surpasses N50 Trillion Transaction Milestone in 2022, Experiences Record Profit Surge

eTranzact International Plc, under the astute leadership of Mr. Olaniyi Toluwalope, accomplished a remarkable feat by processing over N50tn worth of transactions during the 2022 financial period.

This announcement was made during the company’s 19th annual general meeting held in Lagos, where Mr. Toluwalope presented a comprehensive report on the financial statements of the company.

As one of Nigeria’s leading payment service providers, eTranzact International Plc witnessed a substantial surge in its transactional value compared to the preceding year, with an impressive increase from N39tn in 2021. The company’s remarkable achievement reflects its unwavering dedication to technological innovation and customer satisfaction.

During the meeting, Mr. Toluwalope proudly declared, “The company is well positioned and has enhanced the capacity to further process more transactions going forward.”

This statement signifies the company’s strong commitment to expanding its operations and catering to the ever-growing demands of the payment industry.

To complement its success in processing transactions, eTranzact International Plc ensured an astonishing 99% success rate and uptime across all its service offerings throughout 2022.

This achievement can be attributed to the strategic deployment of cutting-edge technology and the expertise of its dedicated workforce, which ensured seamless and prompt processing of transactions with minimal to zero downtime.

Moreover, eTranzact’s steadfast focus on fostering partnerships with various public sector entities, including the Federal Government, state governments, and ministries, played a pivotal role in its triumph during the 2022 financial year.

The collaborative efforts between the company and these governmental bodies contributed significantly to its overall growth and success.

The Chairman of eTranzact International Plc, Mr. Wole Abegunde, added to the celebration by announcing an extraordinary surge in the company’s profits.

He stated, “2022 was a significant year in the history of the company’s financial performance as the company was able to achieve an unprecedented profit after tax of N1.17bn, which represents a 157.81 per cent increase over the prior year.”

This record-breaking profit surge is a testament to the efficacy of the company’s core switching services and the dedication of its management and board to deliver exceptional results to shareholders.