ETranzact International Plc reported a pre-tax profit of ₦5 billion for the year ended December 31, 2024, representing a 53.2% year-on-year increase from the ₦3.1 billion recorded in 2023.
This significant growth underscores the company’s rising profitability and effective strategic expansion efforts in Nigeria’s fintech sector.
ETranzact’s audited 2024 results, released on the Nigerian Exchange Limited, show that full-year revenue rose to ₦29.8 billion, with core operational profit climbing to ₦4.6 billion—a 48.8% increase from 2023.
The fintech firm also saw earnings per share grow by 54.2%, from ₦0.24 to ₦0.37, reflecting strong operational efficiency, enhanced profitability, and sound management practices.
Following its strong performance, eTranzact declared a final dividend of 12.5 kobo per 50 kobo share, payable to shareholders listed on the register by the qualifying date.
The company also achieved a remarkable balance sheet recovery, with retained earnings rising to ₦2.8 billion, a significant turnaround from the negative balance of ₦496.6 million in 2023. This recovery underscores eTranzact’s strengthened financial position and its sustainable growth trajectory.
Reflecting on the company’s performance, the Managing Director of eTranzact International, Niyi Toluwalope, expressed confidence in the company’s transformation story and growth trajectory.
“Surpassing the N5bn pre-tax profit mark is a significant milestone for us. It speaks to the dedication of our team, the effectiveness of our strategic investments, and the growing trust our customers and partners place in our brand. We are excited about the road ahead as we continue to scale and deliver even greater value,” he said.
Toluwalope noted that “in addition to its strong financial performance, eTranzact has reinforced its position as a key player in Nigeria’s fintech sector. The company recently expanded its service network by partnering with more financial institutions and fintech companies, further solidifying its influence in the ecosystem.”
He added that “as eTranzact charts its path forward, its vision to be the preferred integrated financial technology platform for merchants & consumers is driven by three core strategic pillars.
“First is deepening its commitment to deliver advanced, reliable financial technology infrastructure to the financial services sector and government partners alike. Recognising the vital role of small businesses in Nigeria’s economy, eTranzact is extending its fintech capabilities to support SME growth and scalability, offering tailored solutions to meet their unique financial needs.
“Direct-to-consumer play, which will see the company reposition its PocketMoni brand as a leading digital bank for Nigerians, aiming to tap into the growing demand for accessible and seamless financial services.”
eTranzact International Plc, established in 2003 and headquartered in Lagos, Nigeria, is a prominent financial technology company specializing in electronic transaction switching and payment processing across multiple channels, including mobile phones, web platforms, point-of-sale systems, automated teller machines, and bank branches. The company is publicly listed on the Nigerian Stock Exchange under the ticker symbol ETRANZACT.
