eTranzact International Plc has announced its intention to enhance operational performance by focusing on merchant acquisition and the direct-to-consumer market. Niyi Toluwalope, the CEO of eTranzact, made this announcement during the Company’s virtual Facts-Behind-the-Figures (FBF) event.
Toluwalope outlined the Company's strategy, 'Engage and
Win', which is based on three core pillars: Full-Service Switching, Merchant
Marketplace Play, and Direct to Consumer Play.
He also disclosed eTranzact’s impressive transaction growth,
with a transaction volume of N79 trillion in 2023, representing a significant
40 per cent increase from the previous year.
He underscored the company's unwavering commitment to
reliable transaction processing, achieving an impressive 99.5% success rate and
a remarkable maximum processing speed of 1.2 seconds per transaction.
Toluwalope stated, “Our approach involves consistently
involving our stakeholders and earning their confidence by providing
outstanding service and creative solutions. We are dedicated to fostering
growth and providing value to our investors.”
Emmanuel Ogunji, the Chief Financial Officer of eTranzact
Plc, offered additional details on the financial status of the company,
revealing a substantial increase in cash and cash equivalents from N11.5
billion in 2022 to N19.6 billion in 2023.
He also emphasized a 50% growth in gross revenue, amounting
to N33.9 billion, and a 51% rise in net revenue, reaching N9.2 billion compared
to 2022. Ogunji further stated that the company's gross profit for the fiscal
year 2023 was N8.3 billion.
The Chief Executive Officer of the Nigerian Exchange Group
(NGX), Jude Chiemeka, underscored the Exchange’s appreciation for the
unwavering commitment demonstrated by the Board and Management of e-Tranzact
International Plc in enhancing operational efficiency, ensuring uninterrupted
business operations, and restoring investor confidence amidst the prevailing
economic challenges.
He reaffirmed NGX’s steadfast dedication to fostering the
growth and development of the capital markets, thereby creating an enabling
environment for sustainable economic expansion and innovation.
Through the implementation of strategic initiatives aimed at
enhancing market liquidity, bolstering investor trust, upholding market
integrity, and attracting new listings, NGX actively contributes to capital
formation and investment opportunities across diverse sectors of the economy.
The CEO of NGX emphasized the company's dedication to
sustainability and environmental responsibility by actively pursuing
initiatives to reduce net carbon emissions and promote ESG goals within the
Nigerian capital market. Recently, NGX introduced the Impact Board, offering
investors financial instruments with measurable ESG impact.
Additionally, he highlighted the urgent need to address
climate change and promote sustainable development, emphasizing the integration
of ESG principles into business operations and investment decisions through
collaboration with listed companies, regulators, and stakeholders.
Finally, he expressed NGX's commitment to fostering a
greener, more sustainable future through collaborative efforts and innovative
solutions.
eTranzact is a leading provider of payment processing
platforms. It holds the distinction of being the first fully operational
multi-application and multi-channel electronic transaction switching and
payment processing company to be publicly listed on the Nigeria Exchange Group
(NGX).