eTranzact International Plc has set its sights on becoming a regional leader in the medium and long terms, with aspirations to emerge as a global leader in the electronic and mobile payment industry. This ambition was articulated during the company’s 20th Annual General Meeting (AGM) held in Lagos on Thursday.
Strategy for Leadership
eTranzact’s strategy to achieve its leadership goals involves the continuous delivery of secure, cost-effective, and innovative electronic and mobile payment services that adhere to globally recognized standards. The company is committed to maintaining its position at the forefront of the industry by leveraging its expertise and technology to meet the evolving needs of its customers.
Financial Performance Highlights
Wole Abegunde, Chairman of eTranzact International, highlighted the company’s remarkable financial performance during the AGM.
Record-Breaking Profit and Revenue
“The Company reported a profit before tax of NGN 2.201 billion, marking a record performance in the history of eTranzact,” Abegunde announced. “Additionally, the gross revenue for 2023 reached NGN 33.91 billion, the highest ever recorded by the company.”
Commitment to Financial Improvement
Abegunde praised the management’s dedication to enhancing the company’s financial performance, noting that their efforts are commendable and have significantly contributed to the company’s success. He emphasized that eTranzact will continue to strive for improved performance, greater value creation, market leadership, and maximization of shareholders’ wealth.
Operational Excellence and Growth
Niyi Toluwalope, CEO of eTranzact, provided further insights into the company’s performance and activities during 2023.
Sustained Upward Trajectory
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“eTranzact International Plc maintained an upward trajectory in 2023,” Toluwalope stated. “The volume and value of transactions processed across all eTranzact channels and solutions increased significantly compared to 2022, reinforcing our position as the leading provider of high-end switching services.”
Enhancements in Transaction Processing
Toluwalope highlighted the significant improvements in transaction processing speed and instant response times, which contributed to a superior user experience. The company made notable upgrades to the user interface of its various solutions to ensure seamless transactions and top-notch user satisfaction.
Public Sector Dominance
eTranzact continued to strengthen its presence in the public sector throughout 2023. Toluwalope disclosed that the company secured additional mandates for Internally Generated Revenue (IGR) collection across different state governments, further cementing its dominance in this sector.
Leadership in Mobile Banking and Payment Services
eTranzact International Plc is recognized as Africa’s leading provider of mobile banking and payment services. The company takes pride in being the first fully operational multi-application and multi-channel electronic transaction switching and payment processing company that is publicly quoted on the Nigerian Exchange (NGX).
As eTranzact continues to innovate and expand its market reach, it remains committed to delivering exceptional service and achieving its goal of regional and global leadership in the electronic and mobile payment industry.