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eTranzact PLC holds 13th AGM, pays shareholders 10kobo dividend

Proshare

Thursday, July 27, 2017   5.00pm/Proshare WebTV 

Nigeria’s premier e-payment solutions firm eTranzact PLC today held its 13th Annual General Meeting at the Civic Centre, Lagos where it paid shareholders 10kobo dividend, for the 2016 financial year. 

This came with a 20% growth in gross earnings for 2016, which translated to N10.4bl, with a  profit-before-tax of N449.4ml. 

Chairman of the eTranzact Plc Mr Felix Ohiwerei in his statement attributed the revenue growth in 2016 to strengthened collaborations with partner banks, major innovations across its mobile banking suite, new product releases and strategic alliances. 

Speaking further on the company’s performance, Mr Ohiwerei  said “As a company we continue to demonstrate our understanding of the benefits of strategic alliances and the potential business opportunities these can create. We have fostered new relationships, enhanced and deepened existing ones and explored newer opportunities within our ongoing associations with existing partners. Our alliances contributed significantly to some of the improved financial performance we achieved in 2016”. 

Mr  Ohiwerei who is retiring as the pioneer Chairman of eTranzact Plc thanked the board, shareholders and staff of the company for all the support and efforts in building a dynamic and world class organization. 

He expressed confidence that eTranzact was positioned be a regional leader in the medium term and in the long term, a global leader in the electronic and mobile payment industry. 

The MD/CEO of the company Mr Valentine Obi lauded the pioneer Chairman for his outstanding service and commitment to the vision, mission and values of the company. He said  “Mr Ohiwerei has over the years shown us the true meaning of value based leadership demonstrating a continuous commitment to excellence, strategic planning and hard work.  

Mr Obi described  2016 as a year that required special focus in the area of launching new products and extending  the philosophy of making payments simple to other more complex industries as part of its innovation drive. 

Shareholders commended the company for paying the dividend of 10k amidst the challenging 2016 FY, and tasked the board to sustain its value for innovation in the payments services. 

Independent auditors Akintola Williams Deloitte through its representative Mr Jelili Adebisi and Mr Dominic Ichaba, Chairman Audit Committee in their separate statements agreed that the financial records of eTranzact PLC for 2016, aligned with the provisions of IFRS, CAMA and the CAC. 

Highlights of the event was the standing ovation and special rendition of the song “For he is a jolly good fellow”, by the board and shareholders in honour of the outgoing Chairman of eTranzact Mr Felix Ohiwerei.  

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