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Nairaland Forum / Nairaland / General / Business / Devaluation Takes Toll On Interswitch Revenue As Visa Stake Down 52% (204 Views)
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Devaluation Takes Toll On Interswitch Revenue As Visa Stake Down 52% by MCentral: 4:53pm On Jul 15 |
In April 2020, Visa Inc (listed on the New York Stock Exchange) acquired 19.95% of Interswitch Holdings Limited, a Nigerian payments firm for a cash consideration of $200 million. This valued the company at just over $1 billion. For full Year period that ended March 2020, Interswitch reported revenues of N33.49 billion equivalent to $93m as the average exchange rate in 2019 was 360.0594 NGN per dollar. Visa basically bought Interswitch shares at a Price to Sales P/S valuation of 10.75x. By Full Year 2023, Interswitch Holdings Limited had grown its consolidated revenue to N66.5 billion. However, the Nigerian Naira has been devalued to 1,500 NGN per dollar meaning those revenues are now worth about $44.3 million. Applying the P/S Visa acquisition valuation would value Interswitch today at $476 million, according to MoneyCentral calculations. Visa’s $200 million stake would then be now worth only about $95.2 million due to the devaluation. It is important to note that Nigeria represents 94% of Interswitch Holdings Limited’s Group’s revenue. It also means Interswitch, Africa’s veteran fintech company has lost its unicorn title. https://moneycentral.com.ng/exclusive/article/devaluation-takes-toll-on-interswitch-revenue-as-value-of-visa-stake-down-52/ |
Re: Devaluation Takes Toll On Interswitch Revenue As Visa Stake Down 52% by Bigkoko: 5:00pm On Jul 15 |
Those online swines and their gutter mouth cheer leader Anambran governor who were laughing the devaluation of PO investment as worth next to nothing, can now see the full effect of having idiots lead an economy! Make una continue....until nothing remain! By them, I guess the hungry Masses will mobilize and eat the elites and the pigs who supports their criminality! 1 Like |
Re: Devaluation Takes Toll On Interswitch Revenue As Visa Stake Down 52% by 0001Lagos: 5:04pm On Jul 15 |
Tinubu is the biggest failure ever liveth He's clueless and a monumental disgrace to leadership Shame Shame shame 1 Like |
Re: Devaluation Takes Toll On Interswitch Revenue As Visa Stake Down 52% by Racoon(m): 5:04pm On Jul 15 |
Someone one said it while sane people believed it. Today the reality is staring people in the eyes. That negative interpretation is my concern here, and it’s premised on buhari’s support for the election of Bola tinubu as nigeria’s next president. It concerns me because I’m fully convinced that a tinubu presidency would not only destabilise nigeria internally, it would damage nigeria globally, making it a big laughing stock, a butt of dark international jokes!https://www.google.com/amp/s/www.vanguardngr.com/2022/11/ |
Re: Devaluation Takes Toll On Interswitch Revenue As Visa Stake Down 52% by Racoon(m): 5:05pm On Jul 15 |
Bigkoko:Charles Soludo is really a political idiot.I cant believe that politics can warped people brain this way. 3 Likes |
Re: Devaluation Takes Toll On Interswitch Revenue As Visa Stake Down 52% by Melagros(m): 5:13pm On Jul 15 |
COMRADES are speechless about this weird news |
Re: Devaluation Takes Toll On Interswitch Revenue As Visa Stake Down 52% by Bigkoko: 5:16pm On Jul 15 |
I met him once during his days as Economic Adviser to Obj or his early days as CBN gov. The idiot is so full of him, and lack character. Heard he's actually a sadist who kowtow to vested interest just so he can get appointment or elected. Anywhere, we still dey wait for the Taiwan Dubai he promised! Racoon: |
Re: Devaluation Takes Toll On Interswitch Revenue As Visa Stake Down 52% by mrvitalis(m): 5:16pm On Jul 15 |
Bigkoko:Lmao there is nothing tribal and religious extremity won't do ... Nothing |
Re: Devaluation Takes Toll On Interswitch Revenue As Visa Stake Down 52% by Bigkoko: 5:32pm On Jul 15 |
Off course my dear Werey. You see I'm in a place where for the past 5 years I haven't really bothered about Power going off, or worried about what happens if I fall sick..as my health insurance takes care of that. Do how about you? Una go chop grass soon! Omo keep one post make we know how to send thunder to you Biko.... Write, edit, write edit...them swear for you? Hahaha 🤣🤣🤣🤣 mrvitalis: |
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