Hydrogen, the digital finance arm of Access Holdings, has stunned analysts with a dramatic leap in earnings. The fintech firm closed the 2024 financial year with a profit after tax of ₦1.8 billion, marking more than a tenfold rise from the ₦161 million it posted the previous year.
The growth cements Hydrogen’s position among Nigeria’s fast-rising fintech players. It’s currently in the same competitive lane as GTCO’s HabariPay, and industry giants like Flutterwave, Paystack, and Moniepoint — all locked in a fierce battle for digital payment dominance in Africa’s largest economy.
“Hydrogen’s performance is a strong indication of how scale and operational strategy can deliver rapid financial success,” one analyst noted.
Digital Strategy, Scale Drive Fintech’s Breakout
Launched in 2022 but fully operational by 2023, Hydrogen’s explosive growth is largely attributed to its increasing transaction volume, a broadening partner network, and an aggressive efficiency strategy. The fintech offers an extensive service bouquet including InstantPay, POS systems, cards, switching infrastructure, and a robust payment gateway.
This latest financial leap places Hydrogen among the top-performing bank-backed fintechs in Nigeria. HabariPay a subsidiary of Guaranty Trust Holding Co Plc, also posted a strong outing with ₦3.8 billion in profit after tax in 2024 — up from ₦2.1 billion the previous year. According to its financial report, the firm saw a 23% increase in gross revenue, reaching ₦5.8 billion due to surging income across all service lines.
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One reply on “Access Fintech Hydrogen Hits N1.8bn Profit Mark”
[…] Access Holdings Plc has agreed to pay a N1 interim dividend per share in 2025, following strong pressure from shareholders. This payout is more than double the 45 kobo interim dividend it paid in 2024. […]