ETranzact Eyes N7bn New Capital, Facilitate­s N30tr Transactio­ns

- Goddy Egene

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.

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