Fonepay’s Sixth AGM Paves Way for Public Share Issuance and 19% Dividend
Digital Payment Network Fonepay
19th November 2025, Kathmandu
In a landmark decision that could redefine Nepal’s fintech landscape, Fonepay, the nation’s leading digital payment network, has concluded its Sixth Annual General Meeting (AGM) at the Marriott Hotels, Kathmandu.
Digital Payment Network Fonepay
The AGM successfully endorsed key resolutions, including the approval of a generous 19% cash dividend for shareholders and a momentous special resolution to move towards public share issuance. This strategic step leverages the company’s robust IT infrastructure and strong financial performance to drive the next phase of Digital Nepal.
Endorsing Strong Financial Performance
The Sixth AGM reviewed and approved the company’s financial statements for the fiscal year 2081/82, reflecting a period of sustained growth and market dominance in the digital payment network sector. Fonepay’s financial health allows it to share its success with its investors, a crucial signal of stability in the dynamic fintech space.
The announcement of a 19% cash dividend on paid-up capital delighted shareholders. This significant return underscores the company’s profitability and commitment to rewarding its investors, establishing a strong precedent in the payment service operator industry. The management actively drives this shareholder value.
Setting the Stage for Public Share Issuance
The most impactful decision of the day was the special resolution passed to amend the company’s Memorandum of Association (MoA) and Articles of Association (AoA).
These amendments clear the legal and structural path for Fonepay to proceed with public share issuance in the near future. This move fulfills a long-standing goal for the company and is highly anticipated by Nepal’s capital market.
As a public limited company from its inception, Fonepay is strategically positioned to launch Nepal’s first pure-play fintech Initial Public Offering (IPO).
This will offer the general public a chance to own a stake in the backbone of the country’s modern financial ecosystem, contributing directly to the realization of Digital Nepal. The management will now actively prepare and manage the regulatory compliance process.
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Strategic Governance and Auditing
To maintain the highest standards of governance and financial integrity, the AGM made key appointments:
Sashin Joshi was reappointed as an Independent Director. His continued tenure ensures stability and experienced oversight in the company’s strategic direction, particularly as it navigates the transition toward becoming a publicly traded entity.
N.B.S.M. & Associates were reappointed as the auditors for the fiscal year 2082/83. This reassignment ensures continuity in financial auditing and enhances transparency and accountability in reporting, a vital factor before public share issuance.
The Technology Backbone: Powering Digital Nepal
Fonepay’s dominance in the digital payment network rests heavily on its advanced IT infrastructure. The company operates an interoperable platform that seamlessly connects over 60+ Banking and Financial Institutions (BFIs), digital wallets, merchants, and consumers.
The platform processes an astounding volume of transactions—including QR payments, fund transfers (Fonepay Direct), and utility bill payments—making it the de facto standard for digital transactions in Nepal.
This robust technological architecture is what enables the massive scale and reliability required to support the entire digital payment network. The management invests heavily to continually upgrade and secure this infrastructure, ensuring maximum uptime and transaction security.
The move towards public share issuance will provide the company with fresh capital, which it will likely allocate to further strengthening its IT infrastructure, expanding its merchant network, and investing in new digital transformation initiatives.
This investment is crucial to maintaining its competitive edge and driving the national agenda for Digital Nepal. The company is now poised to embark on the next phase of its growth trajectory, solidifying its role as a key player in the country’s economic and technological future.
For more: Digital Payment Network Fonepay
