₦76.5 trillion and counting: Inside the payment surge at GTCO and Access Holdings
Nigerians processed a record ₦79.6 trillion ($49.6 billion) through mobile phones in 2024. GTCO's HabariPay and Access' Hydrogen processed a combined ₦76.5 trillion ($47.7 billion) in transactions in 2024, a 217% increase from ₦24.1 trillion in 2023.
BREAKING: Access corp’s fintech arm, Hydrogen, reports 10x profit surge
Hydrogen reported a profit of ₦1.8 billion for the year ended 2024, a tenfold increase from ₦161 million in 2023. Access Corporation's strategic shift to a holding company structure in 2020 has proven successful.
Stanbic IBTC’s fintech subsidiary Zest widens losses to ₦2 billion in 2024
Zest Payments Limited reported a ₦2 billion loss after tax for the full year 2024. The loss widened from ₦1.2 billion in 2023, indicating ongoing challenges in the fintech sector.
Stanbic IBTC to inject ₦4 billion into fintech subsidiary, Zest
Stanbic IBTC Holdings Plc is recapitalizing Zest Payments Limited with ₦4 billion. The funding represents about 3% of the total ₦148.71 billion capital raising exercise.
Access Holdings’ Hydrogen posts first profit in two years
Hydrogen declared profits of ₦161 million at the end of 2023, its first profitable year since its launch in 2022. The company aims to build Africa's most powerful payment business network and competes with other fintech players in the market.
