ETranzact Eyes N7bn New Capital, Facilitates N30tr Transactions

eTranzact Plc, Africa’s premier electronic payment solutions provider is eying a double digit growth in revenue this year and deliver impressive returns to shareholders.

The Managing Director/CEO, e-Transact, Mr. Niyi Toluwalope, who stated this yesterday at a media briefing in Lagos, said the company would complete its N7 billion capital raise before the end of the 2019 financial year. According to him, as a leading electronic payment solutions firm, eTranzact executed transactions worth over N30 trillion on its platform in 2018.

Toluwalope said the capital raise of N7 billion became imperative considering the need of the company to expand its operations, deepen its market share and to remain competitive in the financial technology industry.

He explained that the fresh capital would be used to upgrade and enhance the company’s technology infrastructure and network security systems and to improve on its service delivery.

He added the capital would enable the company to strategically maintain its position as a key market leader within the electronic payment industry.

“We are already positioning ourselves in the centre so that any fintech that raises money to build a product can use our platform to consummate their transactions. As a Central Bank of Nigeria CBN) licensed switching company, we have the ability to move money from any bank account and that is what financial transaction is all about.

“In the last one year, we have invested in our people, resources, infrastructure, and products because we have reviewed and streamlined our strategy,” he said.

Toluwalope stated that the company also dad a new focus on developing block-chain technology that would enable proper useful data management that could help to predict trends and assist economic decision making.