Nigerian electronic payments company eTranzact International Plc has announced a new board following the sale of a 56.18 per cent stake previously held by Access Bank, Accelerex and eTranzact Global to Trademarks Global Concepts.
The ownership change marks a significant development in the company’s corporate structure, with the new board bringing together professionals with experience in power sector leadership and international development finance.
Brandspur Banking News Desk reports that two of the appointees have held leadership positions at Geregu Power, while another spent 32 years at the African Development Bank, rising through the ranks from manager to director.
The appointments bring experience from different areas of business and finance to the payments company as it enters a new phase under its revised ownership structure.
The African Development Bank veteran’s three-decade career, spanning managerial and directorial responsibilities, stands out among the professional backgrounds represented on the board. The experience of the two executives associated with Geregu Power also adds a power-sector leadership dimension to the new board’s composition.
The transaction places Trademarks Global Concepts at the centre of eTranzact’s new ownership arrangement, following its acquisition of the combined 56.18 per cent stake from the three previous shareholders.
However, the available information does not identify the individual board members, disclose the consideration paid for the shares or specify the strategic priorities the new leadership intends to pursue.
Further details on the appointments and the company’s plans under its new ownership would help clarify how the changes may shape eTranzact’s direction in Nigeria’s electronic payments market.
