etranzact International Plc Holds 15th AGM, Records 59% Growth in 2018 Revenue

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Friday, September 27, 2019 / 06.10AM / Bukola Akinyele for Proshare WebTV / Header Image Credit: WebTV

 

etranzact International Plc a Nigerian award winning multi-application and multi-channels electronic transaction switching and payment processing platform, hosted its 15th Annual General Meeting in Lagos where it reported a 59% turnover in its 2018 financial year performance. 

Coordinated by the Chairman of the Board Mr Wole Abegunde, etranzact witnessed a significant growth in revenue from N11.68bn in 2017FY to N18.62bn in 2018. 

Mr Abegunde in his remarks informed shareholders that the company has fostered new relationships, enhanced and deepened existing ones and explored newer opportunities with existing partners. 

Speaking on the outlook for the company, Mr Abegunde said etranzact was poised and committed to be a regional leader in the medium term and long term, and a global leader in the electronic and mobile payment industry. 

He assured shareholders that the company will continue to deliver secure, cost effective and innovative electronics and mobile payment 

Independent Auditors Deloitte & Touche represented by Mr Jelili Adebisi in their statement affirmed that the company kept proper books of account,  and its financial position as stated were in agreement with the books of accounts and returns. 

The Audit Committee Chaired by Mr Dominic Ichaba in its reported highlighted the fact that the accounting and reporting policies of the company, were in accordance with legal requirement and agreed ethical practices. 

It also reviewed the audited financial statement and reported to shareholders that they were satisfied with the External Auditors report, as they received full management cooperation and responses in the course of their audit. 

Shareholders commended the company for bagging the 2019 Best Corporate Turnaround and Transformation Award. 

The MD/CEO of etranzact International Plc Mr Olaniyi Toluwalope that the growth in the company's public sector business and the deepening of its financial inclusion activities, added to the revenue growth in 2018 FY. 

For the 2019 outlook Mr Toluwalope was optimistic that the recent Central Bank of Nigeria guidelines on the "Cashless Economy" provides immense opportunities for the company to enhance its electronic payment transactions. 

He was of the view that the "Cashless Economy" will enable etranzact to take advantage of the market, showcase its dynamic products and create more value. 

etranzact Plc is a premier e-payment solution provider with operations in Nigeria and associations in Ghana, South Africa and United Kingdom.

 

Visit  E-tranzact International Plc  Plc IR Page  in Proshare MARKETS

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