Digital Space Capital Records 81.7% Pre-Tax Profit Growth In 2023

Digital Space Capital (DSC) has recorded a growth of 81.7 per cent year-on-year in its profit before tax for the year ended December 2023.

The company stated this at its 2024 Giant Stride Investment Summit with the theme, ‘The Quantum Leap 5.0’ held in Lagos.

The company also reported a 30.2 per cent increase in gross income, driven by the diversification of revenue streams.

Presenting the financial results, an Auditor at KSBC Advisory Partner Limited, Dr. Ayomipe Ajayi, highlighted the company’s robust financial performance.

Ajayi said: “in 2023, DSC achieved significant revenue expansion. Profit before tax increased significantly by 81.7 per cent to N620 million.”

Analysts highlighted the vast potential for investors to capitalise on DSC’s exponential growth trajectory, urging them to seize emerging opportunities.

The Etsu Nupe, Dr. Yahaya Abubakar, who also serves as chairman of the Board of Directors at DSC, commended the group managing director, Mrs. Olubukola Abitoye, for her exceptional leadership over the past five years.

The Ooni of Ife, Oba Enitan Ogunwusi, said: “I am deeply invested in the success of Digital Space Capital (DSC) and consider myself an integral part of their journey.

“Their growth and progress are of utmost importance to me, and I pledge to continue supporting them in all their pursuits. Ultimately, true wealth lies not in material riches, but in the values and relationships we cultivate.”

Speaking on the summit, Abitoye pointed out that “the theme of this year’s summit embodies bold ambition and fosters transformative ideas and partnerships to redefine the investment landscape.

“It serves as a platform for innovators and stakeholders to align strategies that drive growth, sustainability, and innovation. Together, we embrace the challenge of scaling impact, reshaping industries, and unlocking opportunities for a prosperous future.”

Abitoye mentioned that the company started in the COVID year, where there were lots of instability and uncertainty, emphasizing that the company’s Non-Performing Loans (NPL) ratio is less than one per cent.

Abitoye added that the summit’s theme reflects DSC’s core values of innovation, proactivity, and an unwavering commitment to excellence.

Digital Space Capital (DSC) launched two new subsidiaries at the Quantum Leap 5.0 event: ‘EasyPay Tech Solutions’, a cutting-edge remittance platform for seamless transactions in major currencies; and ‘DSC Microfinance Bank (DSC MFB)’, offering savings, credit and microloan services to promote financial inclusion.