Nigeria: Digital Space Capital Records 81% Profit Surge to N620 Million

Digital Space Capital (DSC), a leading financial investment firm, reported an 81.7% increase in profit after tax to N620 million for 2023, up from N341.2 million in 2022.

This was disclosed during the company’s 2024 GiantStride Investment Summit, themed “The Quantum Leap 5.0”, held in Lagos. The event highlighted DSC’s robust financial performance and its vision for future growth.

Financial Highlights

• Gross Income Growth: DSC recorded a 30.2% increase in gross income, reaching N2.9 billion in 2023, driven by a diversified revenue base.
• Profit Expansion: Profit before and after tax saw a significant rise of 82%.
• Cost Management: Income grew by 30%, while expenses were contained at 15%, resulting in a positive margin of 15%.

Presenting the financial results, Dr. Aramide Ajayi, an Auditor at KSBC Advisory Partner Limited, remarked:
“This summit reflects not only our achievements but also our bold vision for the future. DSC’s 2023 performance underscores revenue diversification and prudent cost management, paving the way for sustained growth.”

Leadership Acknowledgements

Dr. Yahaya Abubakar, the Etse Nupe of Nupe Land and Chairman of the DSC Board, praised the leadership of the Group Managing Director, Mrs. Olubukola Abitoye, for her transformative achievements over the past five years.

A Vision for the Future

Speaking at the summit, Mrs. Abitoye emphasized the importance of collaboration and innovation in shaping the investment landscape:
“The theme of this year’s summit reflects bold ambition and transformative ideas. It’s a call to redefine industries, drive sustainability, and unlock opportunities for a prosperous future. Together, we can scale impact and embrace the challenge of reshaping the investment landscape.”

DSC’s impressive performance highlights its strategic focus on innovation and resilience, reinforcing its position as a leader in the financial sector.