Niyi Toluwalope , MD/ CEO eTranzact International Plc

In a resounding display of financial strength, eTranzact International Plc has announced a record-breaking pre-tax profit of N5 billion for the year ended December 31, 2024. This marks an impressive 53.2% year-on-year growth from a pre-tax profit of N3.1 billion in 2023, highlighting the company’s accelerating profitability and strategic expansion.

The fintech giant’s full-year revenue surged to N29.8 billion, while profits from core operations climbed to N4.6 billion, reflecting a 48.8% increase from the previous year. Shareholders were rewarded with a 54.2% rise in earnings per share (EPS), which grew from N0.24 to N0.37, demonstrating the company’s strengthened operational efficiency, improved

profitability and efficient operational management.

Dividend Declaration and Balance Sheet Recovery

On the back of its stellar performance, eTranzact declared a final dividend of 12.5 kobo per 50 kobo share, payable to shareholders whose names appear on the register of members by the qualifying date.

The company also achieved a remarkable balance sheet recovery, with retained earnings soaring to N2.8 billion, a turnaround from 2023’s

negative balance of N496.6 million. This turnaround highlights the company’s strengthened financial position and sustainable growth trajectory.

Reflecting on the company’s outstanding performance, Niyi Toluwalope, MD/CEO, eTranzact International Plc, expressed confidence in the company’s transformation story and growth trajectory: “Surpassing the N5 billion 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”

 

Key Financial Highlights

Revenue: N29.8 billion

Gross Profit: N11.3 billion → +36.5% YoY

Operating Profit: N4.6 billion → +48.8% YoY

Pre-Tax Profit: N5 billion → +53.2% YoY

Earnings per Share: N0.37 → +54.2% YoY

Retained Earnings: N2.8 billion → +683.2% YoY

 

Milestone Achievements and Industry Leadership

Beyond its impressive financials, eTranzact continued to strengthen its position as a leading force in Nigeria’s fintech sector.

The company recently:

Expanded its service footprint, onboarding more financial institutions and fintech partners, further solidifying its ecosystem influence.

Launched new payment solutions tailored to meet the evolving needs of SMEs and corporate clients, boosting transaction volumes.

Clinched industry accolades, including the “Most Innovative Payment Services Company of the Year 2024” at the African Brands Innovators Forum, Best Payment Processing Platform Award from BAFi Awards in

2024 underscoring its reputation for cutting-edge financial solutions.

With growing transaction volumes, eTranzact made substantial investments in cybersecurity and data protection, fortifying its

infrastructure to ensure seamless, secure, and reliable services for its customers.

 

Strategic Outlook

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. Recognizing 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.