Niyi Toluwalope, the Chief Executive Officer of eTranzact, Plc, announced during the company’s virtual Facts-Behind-the-Figures (FBF) presentation that the company plans to improve its operational performance by emphasising merchant acquisition and the direct-to-consumer market.
He described his company’s strategy, dubbed “Engage and Win,” which is based on three main pillars: Full-Service Switching, Merchant Marketplace Play, and Direct to Consumer Play.
Noting a transaction volume of N79 trillion in 2023—a notable 40% increase from the previous year—Toluwalope also highlighted eTranzact’s remarkable transaction growth. With a 99.5 percent success rate and a maximum processing speed of 1.2 seconds per transaction, he also highlighted the company’s reliability in transaction processing. Emmanuel Ogunji, the Chief Financial Officer of eTranzact Plc, offered additional information regarding the financial standing of the business.
He noted a notable increase in cash and cash equivalents from N11.5 billion in 2022 to N19.6 billion in 2023.
Continuing, he said that the company’s gross profit for FY 2023 was N8.3 billion, highlighting increases in gross revenue of N33.9 billion, a 50% increase, and net revenue of N9.2 billion, a 51% increase from 2022.
According to Toluwalope: “Our strategy is to continually engage our stakeholders and win their trust through exceptional service and innovative solutions. We are committed to driving growth and delivering value to our investors.”
