• Wednesday, June 12, 2024
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eTranzact maps out strategy on dividend, profitability


Increased dividend, profit sustainability in the face of economic hardship were part of discussions that topped agenda at eTranzact International Plc, annual meeting in Lagos recently. The shareholders also discussed and mapped strategy for the future of the electronic payment solution provider.

The company consolidated its dominance in key sectors of the industry in 2015, actively driving financial inclusion while meeting its key goal of delivering sustainable returns to shareholders.

The company’s performance in 2015 saw increased retained earnings, which allowed the board of directors to approve the payment of a 10 kobo dividend to shareholders for the period.

eTranzact gross revenue for the year 2015 was N 8.7billion representing a 22% growth compared to 2014. Operating profit grew from N380million in 2014 to N851million in 2015 representing a 124% annual growth. Profit before tax (PBT) grew by 76% from 2014 performance, while Profit after tax (PAT) grew by 73% compared to 2014’s performance.

Speaking on the company’s performance for the period, Felix Ohiwerei, who was re-elected as chairman of the board, said, “ As a company, we pride ourselves as one of the pioneer organisations in the business of electronic and mobile payment technology in Africa, and as such, we continue to hold ourselves to very high professional, ethical, technical and operating standards. We remained resilient as we improved our business performance whilst managing the impact of various macroeconomic challenges.”

Also speaking, the founder and CEO of the firm, Valentine Obi, said: “I would like to appreciate the board, management and staff of eTranzact for continued innovation, drive and commitment to the vision and mission of the company.” He further stated that key to eTranzact growth has been a renewed product and customer focus setting key performance indexes around user experience, platform stability and technology development.