eTranzact International Plc, a leading Nigerian payment solutions provider, posted a 22.6% rise in revenue to N16.3 billion for the first half of 2026, according to its unaudited financial statements filed with the Nigerian Exchange Limited (NGX). The company attributed the growth to increased adoption of its digital payment platforms and higher transaction volumes across its core business segments.
Financial Performance Highlights
The H1 2026 revenue of N16.3 billion compares with N13.3 billion recorded in the same period of 2025, marking a significant uptick. Profit after tax also improved, rising to N2.1 billion from N1.7 billion in H1 2025, representing a 23.5% increase. The company's earnings per share (EPS) grew to N0.84 from N0.68 in the prior year.
Operating expenses increased marginally to N12.8 billion from N11.2 billion, reflecting investments in technology infrastructure and customer acquisition. Net finance income stood at N0.5 billion, up from N0.3 billion in H1 2025, supported by improved interest income on bank deposits.
Drivers of Revenue Growth
eTranzact's revenue growth was largely fueled by its digital payment services, including transaction processing, value-added services, and agency banking. The company noted that transaction volumes on its platforms rose by over 30% year-on-year, driven by the expansion of its agent network and increased usage of mobile money and online payment solutions.
In a statement, eTranzact's Chief Executive Officer, Mr. Valentine Obi, said: "Our performance in the first half of 2026 reflects the strong demand for digital payment solutions in Nigeria. We continue to invest in technology and partnerships to enhance our service delivery and capture more market share. The growth in revenue and profit underscores our commitment to delivering value to shareholders."
Market Context and Outlook
The company's results come amid a broader push for financial inclusion in Nigeria, with the Central Bank of Nigeria (CBN) promoting cashless policies and digital payment adoption. eTranzact faces competition from other fintech firms like Flutterwave, Paystack, and Interswitch, but its focus on agency banking and rural penetration has helped differentiate its offerings.
Looking ahead, eTranzact plans to expand its agent network to over 500,000 by the end of 2026, up from 400,000 currently. The company also aims to launch new products targeting small and medium-sized enterprises (SMEs) and government payment systems. Obi added: "We are optimistic about the second half of the year and expect sustained growth as we deepen our reach and enhance our digital infrastructure."
Total assets as of June 30, 2026, stood at N45.6 billion, up from N38.2 billion at the end of 2025, driven by increases in cash and cash equivalents, trade receivables, and investments. The company's shareholders' funds rose to N18.4 billion from N16.1 billion, reflecting retained earnings and improved profitability.
