eTranzact International Plc has announced a 54.12% increase in its profit after tax, reaching ₦3.39 billion for the 2024 financial year.
The company disclosed this in a statement issued on Thursday during its 21st Annual General Meeting held in Lagos.
Chairman of the Board, Mr. Wole Abegunde, described the performance as a significant turnaround, attributing it to sustained efforts across management and operations.
“In recognition of this progress and the positive retained earnings, the board has proposed a dividend of 12.50 kobo per share, reaffirming our commitment to shareholder value,” Abegunde said.
He reported that the company recorded a ₦4.9 billion profit before tax and ₦3.4 billion profit after tax, outperforming its previous financial year.
According to him, the growth was driven by strong revenue generation and effective cost-control measures.
“The board, management, and staff have shown commendable commitment to delivering such performance,” he added.
Abegunde further stated that eTranzact remains focused on enhancing its product offerings, maintaining competitive pricing, and lowering service delivery costs.
Also speaking at the AGM, the Managing Director, Mr. Olaniyi Toluwalope, revealed that gross profit rose by 36.52% from ₦8.32 billion in 2023 to ₦11.36 billion in 2024, while operating profit increased by 48.83% to ₦4.66 billion.
He added that profit before tax rose by 53.20%, and earnings per share jumped from 24 kobo to 37 kobo, a 54.17% increase.
Toluwalope attributed the improved performance to increased transaction volumes, consistent service delivery, stable pricing, and strong demand for digital payment solutions.
He highlighted improved transaction success rates and faster processing times—a trend sustained over the last four years.
In 2024, the company executed several strategic initiatives, including the migration to Smart Vista Switching Infrastructure, which attracted new banking partners.
Other innovations include the launch of a new PocketMoni Wallet Platform and mobile app, as well as a Cashpoint Agent Management Platform, which accelerated the nationwide deployment of PoS terminals and expanded eTranzact’s market reach.
Toluwalope reaffirmed the company’s commitment to innovation, financial inclusion, and delivering long-term value to both shareholders and customers.
