According to its 2024 financial statement, the company had profitability across all key performance indicators, reversing the previous year’s losses.

Revenue surged by 71% to ₦12.5 billion, up from ₦7.3 billion in 2023. Gross profit jumped 73% to ₦2.8 billion, compared to ₦1.6 billion the previous year. Profit before tax increased by 349% to ₦918.4 million, a huge contrast to the ₦368.6 million loss recorded in 2023.

Total assets grew by 71% to ₦12 billion from ₦7 billion, while total liabilities increased to ₦10.7 billion from ₦6.4 billion. Operating profit also saw a commendable jump, rising from ₦40.2 million to ₦1.3 billion.

A key driver of ABC Transport Plc’s growth was a 65% surge in the company’s loads and waybill segment, which contributed 33% of total revenue—the highest among all business divisions. ABC Transport’s other revenue streams include road passenger transportation, haulage, vehicle importation and sales, and hospitality services.

This strong recovery is expected to create value for stakeholders. The company’s long-term strategy will be indispensable in maintaining this growth and driving sustainability.

As part of the partnership, ABC Transport has integrated JumiaPay as a payment gateway on their platform, allowing customers to conveniently pay for their bus tickets.

This partnership brings even greater convenience to passengers, who can now make secure payments for their bus tickets online, without the need for cash or physical cards.

With JumiaPay, customers can easily pay for their tickets via bank transfers, USSD or debit cards, providing a faster, more secure, and hassle-free payment experience.

“We are excited to partner with ABC Transport to bring our safe, fast, and convenient payment solution to their customers. This partnership is a testament to our commitment to providing seamless payment solutions that offer convenience, safety, and security to everyone, said Adedamola Giwa, Managing Director, JumiaPay Nigeria.”

The transport company is known for its reliable and comfortable transportation services across Nigeria and West Africa. The integration of JumiaPay into the ABC Transport platform is expected to improve the customer experience, making it easier for passengers to book tickets and make payments.

“We are proud to partner with JumiaPay to offer our customers a secure and convenient payment solution. This partnership aligns with our commitment to continuously improve our services for the benefit of our customers, said Victor Nneji, Group Head – Innovation, Strategy & Marketing ABC Transport.”

The partnership is expected to increase the adoption of cashless payment solutions in the transportation sector, promoting a safer and more convenient payment experience for all.