eTranzact addresses the seller acquisition and direct-to-consumer markets

eTranzact, a Nigerian fintech company, focuses on merchant acquisition and direct-to-consumer selling strategies to stay afloat in the competitive market.

The company’s Chief Executive Officer, Mr Niyi Toluwalope, made this disclosure on Friday.

Toluwalope was quoted to say this during their participation in NGX’s “Facts Behind Figures” webinar, noting that the focus on market expansion goes hand in hand with impressive financial results.

He added that the vision is based on three basic pillars: comprehensive customer service, trade market service and direct sales to customers.

He added that during the forum, the company presented its solid financial results and strategic direction to investors and stakeholders.

Toluwalope said the company has recorded impressive growth in the number of transactions, with its volume expected to reach N79 trillion in 2023.

He said this is a 40 percent increase over the previous year. He emphasized the company’s consistency in transaction processing, boasting a 99.5 percent success rate and a maximum processing speed of 1.2 seconds per transaction.

“Our strategy is to continually engage our stakeholders and earn their trust through exceptional service and innovative solutions. We are committed to driving growth and delivering value to our investors.

“The Facts Behind the Numbers webinar not only showed the company’s strong financial condition, but also its strategic vision for future development,” he said.

Managing Director of Nigeria Exchange Ltd. (NGX), Mr. Jude Chiemeka, commended the management of eTranzact, stressing the importance of such events in strengthening investor confidence through transparency and accurate information.

eTranzact Plc Chief Financial Officer, Emmanuel Ogunji, has provided further insight into the company’s financial health, reporting a significant increase in cash and cash equivalents from N11.5 billion in 2022 to N19.6 billion in 2023.

Ogunji also highlighted an increase in gross revenue of N33.9 billion, representing an increase of 50 per cent, and net revenue of N9.2 billion, representing an increase of 51 per cent, compared to 2022.

According to him, the company’s gross profit for the fiscal year 2023 was N8.3 billion.

The management team has outlined plans to expand its service offerings and enhance its technology infrastructure to ensure eTranzact maintains its competitive edge in the financial technology industry.

As the only super fintech and payment switching platform listed on the Nigerian Stock Exchange, eTranzact continues to lead the market with its innovative solutions and unwavering commitment to excellence. FG Shuts Down Illegal Gold Mine in Kogi