eTranzact, Africa’s e-payments solution
provider, which delivers electronic transaction switching and payment
processing solutions across Point of Sales (PoS), web, mobile, Automated
Teller Machines (ATMs) and cards, has declared a profit of N471million
for its financial year ended December 31, 2015.
The company said its operating profit
grew from N380million in 2014 to N851million in 2015 representing 124
per cent annual growth.
In order to make its shareholders share
from the profit, the company declared 10kobo dividend for its
shareholders, up from the five kobo dividend it paid last year.
The resounding success it recorded in
the financial year ended December 2015, no doubt, helped the company to
consolidate on its market dominance in key sectors of the industry in
2015, actively driving financial inclusion while meeting its key goal of
delivering sustainable returns to shareholders.
According to the company’s annual
report, gross revenue for the year 2015 was N8.7 billion, representing
22 per cent growth compared to 2014. Profit before tax (PBT) grew by
76per cent from 2014 performance while Profit after tax (PAT) grew by
73per cent compared to 2014’s performance.
The company’s performance in 2015
increased its retained earnings and allowed the board of directors to
approve the payment of a 10 kobo dividend to shareholders for the
period.
PocketMoni prepaid Mastercard was issued
to all shareholders and with their approval at the AGM, their dividend
payout was made to the cards.
Commenting on its growth, the company
attributed its success to key growth drivers such as strengthened
collaboration with partner banks in driving mobile banking business;
strategic alliances with international money transfer operators which is
driving growth of remittance business; alliances with government
agencies, parastatals and educational institutions, which is driving
bulk payments; central collection; and transaction switching and
processing business.
Projecting into the future, the company
said it has taken steps to increase profitability of new relationships,
enhance and deepen existing ones, and explore new partnerships locally
and internationally.
Speaking on the company’s performance
for the period, its Chairman, Mr. Felix Ohiwerei, who was re-elected as
chairman of the board, said: “As a company, we pride ourselves as one of
the pioneer organisations in the business of electronic and mobile
payment technology in Africa, and as such, we continue to hold ourselves
to very high professional, ethical, technical and operating standards.
We remained resilient as we improved our business performance whilst
managing the impact of various macroeconomic challenges.”
“As we position our business and
operations to take advantage of various opportunities in the industry,
we will continue to align our processes and operating standards with
global best practices, which is required of businesses such as ours,
Ohiwerei added.
The founder and CEO of eTranzact, Mr.
Valentine Obi said: “I would like to appreciate the board, management
and staff of eTranzact for the continued innovation, drive and
commitment to the vision and mission of the company. We have experienced
consistent growth in revenue and profitability over the last three
years. Key to our growth has been a renewed product and customer focus
setting key performance indexes around user experience, platform
stability and technology development, and we plan to continue doing
this.”
He promise to continue to make payments simple, and innovating and creating solutions that transform the lives of people in Africa.
eTranzact recently completed the
strategic rebranding of its identity, vision, mission, products and
people, reaffirming the company’s leadership position in transaction
switching, mobile banking, mobile money, bulk payments, remittances,
bills and utilities payments, collections and other payment technology
areas.
Emma Okonji
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