eTranzact Records Over N50 Trillion Transactions in 2022, Assures Shareholders of Regional Dominance
eTranzact International Plc achieved remarkable financial growth in 2022, processing transactions worth over N50 trillion, a significant increase from N39 trillion in the previous year. As a result, the company recorded a remarkable 157.8% growth in profit after tax (PAT), reaching N1.17 billion from N455.75 million in 2021.
During the annual general meeting held in Lagos, the Chairman of the Company, Mr. Wole Abegunde, attributed the impressive performance to the company’s focus on expanding its core switching services. He assured shareholders of the management and board’s commitment to maximize returns on their investment.
eTranzact’s Earnings Per Share (EPS) rose by 128.57% to 16 kobo in 2022 from seven kobo in 2021. The company’s Managing Director/Chief Executive Officer, Mr. Olaniyi Toluwalope, credited the improved financial performance to the increased growth in transaction volume, particularly through SwitchiT.
Looking ahead, eTranzact aims to become a regional leader in the medium term and a global leader in the electronic and mobile payment industry in the long term. The company plans to continue delivering secure, innovative, and compliant electronic and mobile payment services aligned with global standards.
Opinion: eTranzact’s outstanding financial performance and its commitment to regional dominance showcase its potential to become a key player in the electronic payment sector. With a focus on customer-centric services and adherence to global standards, the company is well-positioned to capitalize on emerging opportunities in the digital payment landscape. As it continues to expand its reach and provide innovative solutions, eTranzact’s growth trajectory looks promising for shareholders and the overall economy.