GTCO’s HabariPay Doubles Profit as Digital Payments Surge

HabariPay Limited, a fintech subsidiary of Guaranty Trust Holding Company, has reported a profit before tax of N4.02 billion for the first half of 2025 — a 95% increase from the N2.07 billion achieved in the corresponding half of 2024.

According to the half-year financial report of GTCO, the outstanding performance of HabariPay added about 0.67% of the group’s profit before tax, showing its growing value addition to GTCO’s digital financial ecosystem. The sterling performance also reflects the growing footprint of HabariPay in Nigeria’s competitive digital payments landscape.

Improved Revenue and Operational Efficiency

The company’s operating income increased to N5.05 billion in H1 2025, an increase of 82% compared to N2.77 billion recorded a year earlier. While operating expenses also grew to N1.03 billion from N703.3 million, the expenses were attributed to the company’s expansion push and continued investment in technology infrastructure.

Despite higher spending, HabariPay’s operational efficiency remained strong. There were no impairment charges on loans or taxation for the fintech player during the period, highlighting its lean business model and effective cost management.In a statement commenting on the results, GTCO attributed the robust growth to “heightened transaction volumes and broader adoption of HabariPay’s digital payment solutions across Nigeria.”

Fintech Momentum in Nigeria

HabariPay’s ascent comes during a star turn for Nigeria’s fintech industry, which continues to attract both local and global attention. With a youthful, tech-savvy population, growing smartphone penetration, and a supportive regulatory switch, the sector continues to be one of the fastest-growing on the continent.

In 2024 alone, Nigeria’s fintech space drew more than USD 2 billion in investments — a sign of investor confidence in the country’s digital revolution. Against this backdrop, HabariPay’s latest outcome appears to mirror the broader trend, marking it as one of the bright spots in GTCO’s expanding ecosystem.