">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Sunday, January 24, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Business

Strategic Partnerships and New Products Key to eTranzact’s Continued Profitability

Milcah Lukhanyu by Milcah Lukhanyu
3 years ago
in Business, Startups, Tech
7 min read
0

Premier e-payments solution provider, eTranzact International PLC held its 13th annual general meeting at the Civic Center, Victoria Island, Lagos on the 27th of July, 2016.

In attendance at the AGM were the executive and non-executive members of the board led by the Chairman, Mr Felix Ohiwerei, OFR; Mr Valentine Obi, Founder and CEO; and other members of the board.

The AGM had increased shareholder attendance and participation with general excitement about the company’s continuous profitability position and consistent dividend sharing in spite of the macroeconomic realities of the country in 2016.

Profitability and Dividends

eTranzact consolidated its dominance in key sectors of the industry in 2016, improving strategic partnerships and launching new products.

Gross revenue for the year 2016 was N10.4bn representing a 20% growth compared to 2015. Operating profit was 620m and Profit before tax(PBT) was 449.4m.

Related posts

Finnfund & Norfund double Starsight’s funding to $20 million for Ghana expansion

January 23, 2021
0

African tech startup funding passes $700m in 2020 despite COVID-19

January 23, 2021
0
Toshiba

Chrome Now Helps You Change Weak Passwords

January 23, 2021
0

Top 5 Skills That Modern Software Developers Need to Have

January 22, 2021
0

The board of directors approved the payment of a 10 kobo dividend to shareholders for the period.

Growth drivers

The key drivers of eTranzact’s growth in 2016 were strengthened collaboration with partner banks, major innovations across its mobile banking suite, new product releases and strategic alliances.

The Future

eTranzact has taken steps to increase profitability of new relationships, enhance and deepen existing ones, and explore new partnerships locally and internationally.

READ  Ericsson enhances TV experience with New Solutions Extending to New Markets

Speaking on the company’s performance for the period, Mr Felix Ohiwerei, OFR, Chairman of the Board, 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.

I would like to take this opportunity to inform you all that this will be my last AGM as the Chairman of the Board of Directors and as a member of the Board. From the beginning, the Board in collaboration with the management team, have worked hard to build a world class organization with global operating standards. We have made a lot of progress over the years and we keep getting better

We are poised and committed to be a regional leader in the medium term and in the long term, a global leader in the electronic and mobile payment industry. To this end, we will continue to deliver secure, cost effective and innovative electronic and mobile payment services that are compliant with globally recognized standards”.

Also speaking, the Founder and CEO, eTranzact International Plc, Mr. Valentine Obi said:

“I would like to take this opportunity to thank the Chairman of the eTranzact board, Mr Felix Ohiwerei, OFR for his outstanding service and commitment to the vision, mission and values of our company.

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. He leaves a strong legacy that we will work hard to keep up with and we will continue to execute our long term strategy and deliver on the mission and vision of the company.

READ  Storyful, Google Partner To Launch Kenyan Election Only YouTube channel

I will also like to appreciate the board, management and staff of eTranzact for their doggedness continued innovation, drive and commitment to the vision and mission of the company.

2016 was a year that required special focus as we launched new products and extended our philosophy of making payments simple to other more complex industries as part of our innovation drive.

The rewards of our efforts have stayed consistent with an annual revenue growth rate of 70% that we hope to continue.

We promise to continue to make payments simple, and innovating and creating solutions that transform the lives of people in Africa”.

 

 

Readers 2,599

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

Startups

Finnfund & Norfund double Starsight’s funding to $20 million for Ghana expansion

January 23, 2021
0
Startups

African tech startup funding passes $700m in 2020 despite COVID-19

January 23, 2021
0
Toshiba
Tech

Chrome Now Helps You Change Weak Passwords

January 23, 2021
0
Tech

Top 5 Skills That Modern Software Developers Need to Have

January 22, 2021
0
Tech

What Software Developers Need to Know About Burnout

January 22, 2021
0
Tech

Three Kenyan teams excel at the Huawei ICT Competition Global Finals

January 22, 2021
0
Startups

Free money transfer service Taptap Send launches its services to Kenya

January 22, 2021
0
Health

54gene launches a genome sequencing lab to track infectious and non-communicable diseases prevalent in Nigeria

January 22, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Finnfund & Norfund double Starsight’s funding to $20 million for Ghana expansion

January 23, 2021

African tech startup funding passes $700m in 2020 despite COVID-19

January 23, 2021
Toshiba

Chrome Now Helps You Change Weak Passwords

January 23, 2021
Toshiba

Shoppable Ad Formats Are Coming Soon To Youtube

January 23, 2021

Hero MotoCorp Surpasses the Monumental 100M Cumulative Production Milestone

January 23, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: