WATCH THE VIDEO HERE HabariPay, the fintech subsidiary of Guaranty Trust Holding Co Plc, recorded N1.7 billion profit after tax in half-year 2024. The company revealed this in its half-year 2024 financial presentation to investors. The fintech’s profit represents 30.7% growth when compared with N1.3 billion it recorded in the same period in 2023. The profits reflected the surge in revenue recorded by the fintech company in the period under review. According to the report, HabariPay’s gross revenue increased by 21% to N2.8 billion in half-year 2024 from N2.3 billion reported in the same period in 2023. The report further revealed that the total Payment value (TPV) of Naira transactions processed by HabariPay grew significantly by over 170% to N9.8trillion in H1-2024 from N3.6trillion in FY-2023. This marked increase was further complemented by growth in the TPV value of Dollar transactions processed, which stood at $1.2 million against $1.1 million recorded during the same period last year. “HabariPay also grew its fee income from revenues earned from value-added services (VAS) and switching i.e., processing of transactions for counterparties for a fee,” GTCO added in the report. GTCO launched Habari in 2018 as a super-app that provides everything from streaming content to an e-commerce marketplace. The bank, with its ecosystem of small business customers, wanted to create a marketplace hub to support vendors across different industries.