Nigerian technology company that provides payment solutions, eTranzact, in its financial report for 2022, completed transactions worth N50 trillion in value, up from N39 trillion processed in 2021.
According to the report, the payments service provider recorded N1.17 billion in profit, a 157.81% increase from the previous year.
Consequently, the company recorded a 157.8 percent growth in profit after tax (PAT), to N1.17 billion from N455.75 million in 2021. Earnings per share rose by 128.57 percent to 16 kobo in 2022 from seven kobo in 2021.
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The company’s management made this disclosure at its 19th annual general meeting in Lagos. eTranzact CEO Olaniyi Toluwalope lauded the team for their effectiveness in ensuring payments get processed immediately.
He disclosed that the company ensured a 99 percent rate and uptime across the various service offerings during 2022. This, he said, involved the deployment of technology and the required expertise to ensure prompt and seamless processing of transactions, and to ensure constant availability of all the channels with minimal to zero downtime.
Mr. Toluwalope further noted that eTranzact is well-positioned and has enhanced the capacity to further process more transactions going forward. He added that the company is poised and committed to being a regional leader in the medium term and the long term, a global leader in the electronic and mobile payment industry.
Also speaking on eTranzact’s remarkable 2022 financial report, the chairman of the company, Wole Abegunde described 2022 as “a significant year in the history of the company’s financial performance, thanks to the focus and expansion of core switching services”.
Represented by Mr. Afolabi Oladele, a Non-Executive Director of the company, Abegunde added, “The landmark achievement is down to the management’s drive for excellence and demonstration of the commitment of the management and the board to ensure maximum returns on the investment of shareholders. The Company will not relent on the performance and will seek more business opportunities to boost subsequent financial results.”
Speaking on eTranzact plans, Abegunde said;
“We are poised and committed to being a regional leader in the medium term and the long term, a global leader in the electronic and mobile payment industry. To this end, we will continue to deliver secure, cost-effective, and innovative electronic and mobile payment services that are compliant with globally recognized standards.”
eTranzact is Nigeria’s premier payment processing platform and Africa’s leading provider of banking and payment services.
The payment service provider has today evolved into a brand with global reach, extending its innovative services to include products that cut across virtually all aspects of the e-payment space which include; ATM, Internet, POS, and Mobile. eTranzact is the simpler, safer, and easier way to complete transactions online and offline.
The platform empowers its customers with smarter, simpler payments for their diverse lifestyles and businesses. Its secure flexible solutions are thoughtfully designed by the best in the industry for guaranteed hassle-free payment acceptance and processing.
In 2022, eTranzact won an award as the Most Financially Inclusive Agent Solution of the Year by the Central Bank of Nigeria (CBN).
The company’s mission is to provide secure, convenient, and effective means to make and receive payments, with a vision to be the leading payment technology provider for individuals and organizations.