Trademarks Global Concepts Limited acquired 56.18% of the listed payments company, triggering changes to its board, including five director appointments.
eTranzact International Plc, a Nigerian electronic payments company listed on the Nigerian Exchange (NGX), has announced changes to its Board of Directors following the transfer of a 56.18% equity interest in the company to Trademarks Global Concepts Limited.
The transaction involved the transfer of 5.17 billion ordinary shares previously held by Access Bank Plc, Meristem Trustees Limited, acting as trustee for Accelerex Holdings, and eTranzact Global Limited. The three shareholders decided to exit the company in 2025 under a tag-along arrangement.
eTranzact provides electronic payment processing, transaction switching and settlement services, supporting digital payments across multiple channels.
Five directors appointed following ownership change
Following completion of the share transfer, five directors resigned from the board, comprising three non-executive directors and two independent non-executive directors. Five new directors have been appointed, including three non-executive directors and two independent non-executive directors.
The incoming directors are Akinwunmi (Akin) Akinfemiwa, Olatunde Akande and Doron Grupper as non-executive directors, alongside Omobola Hollist and Mustapha Ajenifuja, SAN, as independent non-executive directors.
Akinfemiwa brings experience across banking, energy, power generation and corporate restructuring. He previously served as managing director and chief executive officer of Geregu Power Plc and group chief executive officer of Forte Oil Plc, now associated with the Ardova business.
Akande has over two decades of experience in development finance and investment across Sub-Saharan Africa. His previous roles include executive director, technical, at NIRSAL Plc and director of portfolio management at the Africa Enterprise Challenge Fund.
Grupper has held senior executive positions across banking, energy and infrastructure. His previous appointments include chief executive officer of Dorad Energy Ltd and executive chairman of Mekorot Water Company, Israel's national water company. He has also served on the board of Geregu Power Plc in Nigeria.
Hollist is a development finance and governance specialist with over 35 years of experience in international banking and multilateral development finance. She previously served as financial controller at the African Development Bank Group.
Ajenifuja, a Senior Advocate of Nigeria, brings experience in commercial litigation, regulatory compliance, corporate governance, financial transactions and capital markets advisory.
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