GTCo’s HabariPay Posts Impressive Profit Growth in 2024

Guaranty Trust Holding Co Plc’s fintech subsidiary, HabariPay, has made significant strides in Nigeria’s digital finance sector, closing the 2024 financial year with a profit after tax of N3.8 billion. The company’s latest financial report, released over the weekend, highlights an 81% increase from the N2.1 billion recorded in 2023.

This impressive performance mirrors a substantial rise in operating income, reflecting the fintech’s growing influence in the Nigerian digital payments landscape. According to the report, HabariPay’s gross revenue surged by 23%, reaching N5.8 billion in 2024, up from N4.7 billion in the previous year.

Strengthening its Position in Fintech

Despite Nigeria’s highly competitive fintech industry, GTCo noted that HabariPay is steadily positioning itself as a key player, driving financial innovation and digital transformation.

“Habari specializes in secure payment gateways that allow businesses to effortlessly make and receive payments, benefiting from an increasingly digital trend,” the company stated.

Beyond payment processing, the fintech firm is focused on equipping businesses with tools that enhance financial inclusion and economic growth.

Expanding Digital Payment Solutions

HabariPay’s services span multiple digital payment solutions, including virtual accounts, USSD transactions, card payments, and bank transfers. Additionally, the company operates in switching verticals and value-added services such as airtime top-ups and bulk SMS distribution through Nigerian Communications Commission (NCC)-licensed aggregators.