Diversified product base responsible for eTranzact continued profit position

The introduction of innovative and diversified products has continued to underpin eTranzact Nigeria Plc’s profit amid an economic downturn as shareholders of the company has hailed the payment of a dividend of N420 million.

Speaking at the  13th annual general meeting (AGM) of the company in Lagos,  the shareholders  commended Africa’s provider of mobile banking and payment services and approved a   dividend of 10 kobo per share.

The shareholders were excited at the performance of the group, which showed an impressive 20 per cent growth in gross revenue to N10.40 billion in 2016.  Operating profit was 620 million and Profit before tax (PBT) was 449.4 million.

eTranzact consolidated its dominance in key sectors of the industry in 2016, improving strategic partnerships and launching new products.

The key drivers of the company’s growth in 2016 were strengthened collaboration with partner banks, with major innovations across its mobile banking suite, new product releases and strategic alliances.

eTranzact has taken steps to increase profitability of new relationships, enhance and deepen existing ones, and explore new partnerships locally and internationally.

Speaking on the company’s performance for the period, Mr Felix Ohiwerei, OFR, Chairman of the Board, said “As a company we continue to demonstrate our understanding of the benefits of strategic alliances and the potential business opportunities these can create. We have fostered new relationships, enhanced and deepened existing ones and explored newer opportunities within our ongoing associations with existing partners. Our alliances contributed significantly to some of the improved financial performance we achieved in 2016.

Also speaking, the Founder and CEO, eTranzact International Plc, Mr. Valentine Obi said:

“I would like to take this opportunity to thank the Chairman of the eTranzact board, Mr Felix Ohiwerei, OFR for his outstanding service and commitment to the vision, mission and values of our company.

Mr Ohiwerei has over the years shown us the true meaning of value based leadership demonstrating a continuous commitment to excellence, strategic planning and hard work. He leaves a strong legacy that we will work hard to keep up with and we will continue to execute our long term strategy and deliver on the mission and vision of the company.

I will also like to appreciate the board, management and staff of eTranzact for their doggedness continued innovation, drive and commitment to the vision and mission of the company.

2016 was a year that required special focus as we launched new products and extended our philosophy of making payments simple to other more complex industries as part of our innovation drive.

The rewards of our efforts have stayed consistent with an annual revenue growth rate of 70% that we hope to continue.

We promise to continue to make payments simple, and innovating and creating solutions that transform the lives of people in Africa”.