Stanbic IBTC’s fintech subsidiary Zest widens losses to ₦2 billion in 2024
Bendada.com | Joseph - Apr 02, 2025
Featured entitiesThe most prominent entities mentioned in the article. Tap each entity to learn more.
Habari PayHydrogenZest Payments LimitedGuaranty Trust Holding CompanyStanbic IBTC Holdings Plc
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AI-generated highlightsThe most relavant information from the article.
  • Zest Payments Limited reported a ₦2 billion loss after tax for the full year 2024.
  • The loss widened from ₦1.2 billion in 2023, indicating ongoing challenges in the fintech sector.
  • Zest's total income doubled to ₦124 million from ₦68 million in 2023, showing promise despite losses.
CommentaryExperimental. Chat GPT's thoughts on the subject.
While Zest Payments Limited is currently facing significant financial challenges, the doubling of its total income and the upcoming capital injection from Stanbic IBTC suggest that there is potential for recovery and growth. The fintech sector in Nigeria remains highly competitive, and Zest's ability to innovate and adapt will be crucial for its future success.
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