HabariPay Records Significant Profit Growth as GTCo Expands Fintech Footprint
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HabariPay, the fintech subsidiary of Guaranty Trust Holding Co Plc (GTCo), achieved a profit after tax of N3.8 billion in 2024, reflecting the bank’s continued push into the fintech sector.
According to the company’s full-year 2024 financial report, released over the weekend, this marks an impressive 81% increase from the N2.1 billion recorded in 2023. The surge in profitability aligns with strong growth in operating income and sustained expansion across key revenue streams.
Revenue and Business Growth
HabariPay’s gross revenue climbed 23% year-over-year (YoY) to reach N5.8 billion in 2024, up from N4.7 billion in the previous year. This growth was driven by a robust performance across all core business segments, reinforcing its position in Nigeria’s dynamic fintech landscape.
Strengthening GTCo’s Fintech Presence
As competition in the fintech industry intensifies, GTCo highlighted HabariPay’s rapid evolution into a key player within Nigeria’s financial technology ecosystem. The company is spearheading innovations aimed at fostering financial inclusion and driving digital economic transformation.
“HabariPay is at the forefront of delivering secure and efficient payment solutions that enable seamless transactions for businesses and individuals,” GTCo stated. “Beyond processing payments, the company plays a crucial role in equipping businesses with essential digital tools, contributing to broader economic development.”
Core Offerings and Services
HabariPay operates a versatile payment gateway that facilitates transactions via multiple channels, including virtual accounts, USSD, cards, and bank transfers. The company also engages in payment switching services, value-added solutions such as bill payments and airtime vending, and bulk SMS distribution through Value Added Service Aggregators licensed by the Nigerian Communications Commission (NCC).
With its strong financial performance and expanding service offerings, HabariPay continues to solidify its position as a transformative force in Nigeria’s fintech sector.
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