By Seun Ibiyemi
Shares of eTranzact International Plc were the top performer on the Nigerian Exchange for the week, surging by 45.15% to close at N14.95.
This impressive rally was fueled by strong investor confidence following key corporate developments.
The fintech firm, which started the week at N10.30, experienced a buying frenzy that analysts attribute to the Federal Inland Revenue Service’s (FIRS) approval of eTranzact as a service provider for its national e-invoicing system.
This partnership solidifies the company’s role in government-led tax digitalization efforts and signals a significant new revenue stream.
On the financial front, eTranzact reported a robust pre-tax profit of N2.1 billion for the first half of 2025, an 18.31% increase from the previous year.
This growth was driven by a 27.7% reduction in the cost of sales, which offset a marginal dip in revenue. The company’s gross profit climbed by 39.5% to N6.4 billion, demonstrating improved efficiency.
The stock’s recent performance caps a year of exceptional gains, with the share price rising by 91% in the third quarter alone.
At its last Annual General Meeting, shareholders also approved plans to raise up to N100 billion in new capital, further signaling strong growth ambitions.