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Tag: Chams HoldCo

  • Chams HoldCo records N13.6b turnover in nine months

    Chams HoldCo records N13.6b turnover in nine months

    Chams Holding Company (Chams HoldCo) Plc recorded modest growth in sales in the first nine months as group turnover rose by four per cent to N13.60 billion.

    Interim report and accounts of Chams HoldCo for the third quarter ended September 30, 2025 showed that total revenue inched up from N13.14 billion in third quarter 2024 to N13.60 billion in third quarter 2025. However, the group’s bottomline was impacted by high finance and operating costs, with net profit after tax closing third quarter 2025 at N500.7 million. Total assets and shareholders’ funds stood at N20.60 billion N10.56 billion respectively.

    The company stated that while finance costs rose to N626 million, it has started implementing strategies to reduce borrowing expenses and strengthen financial position.

    Chams HoldCo achieved a 100 per cent subscription to its recently concluded N3.6 billion private placement, reflecting investor confidence in its vision and long-term strategy.

    Group Managing Director, Chams Holding Company (Chams HoldCo) Plc, Mrs Mayowa Olaniyan, said the outlook for the group remains promising.

    She said: “We are optimistic about sustaining our growth momentum by expanding our fintech ecosystem through strategic partnerships and new products, driving digital transformation, and strengthening governance and sustainability practices”.

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    She outlined that the company’s subsidiaries have recorded strategic milestones in recent period.

    She said ChamsAccess Limited achieved a major milestone with its PenCentral platform, processing over N150 billion in pension remittances for more than 1,500 corporate entities while the launch of the National Pension Automation Project in Sierra Leone further demonstrated ChamsAccess’s leadership in digital identity and financial inclusion across West Africa.

    She added that CardCentre deepened its partnership with MTN Nigeria to produce biodegradable SIM cards—a first-of-its-kind sustainability initiative in Nigeria.

    According to her, the project reinforces Chams HoldCo’s dedication to environmental, social, and governance (ESG) principles and sustainable innovation.

    She pointed out that ChamsSwitch Limited, under the new leadership of Mr. Mudiaga Umukoro is undergoing a strategic transformation focused on payment interoperability, merchant solutions, and digital banking infrastructure, all that position the subsidiary for accelerated growth within Nigeria’s dynamic fintech landscape.

    “These achievements highlight Chams HoldCo’s resilience, innovation culture, and commitment. The group continues to set new benchmarks in operational excellence and sustainable business performance,” Olaniyan said.

  • Chams HoldCo launches N7.65b capital raising

    Chams HoldCo launches N7.65b capital raising

    Chams Holding Company (CHAMs HoldCo) Plc at the weekend formally signed off a new capital raising programme under which about N7.65 billion would be injected into the operations of the technological solutions group.

    At a signing ceremony at the company’s headquarters in Lagos, directors and professional parties to the new capital issue signed off the offer documents, preparatory to the opening of subscriptions by the investing public later this week.

    Under the plan, Chams HoldCo is undertaking a N3.99 billion rights issue of 2.348 billion ordinary shares of 50 kobo each to existing shareholders at N1.70 per share. The rights will be pre-allotted on the basis of one new share for every two shares held as of June 16, 2025.

    The rights issue will open on Friday, August 8, 2025, and close on Friday, September 12, 2025.

    The group will also undertake a N3.66 billion private placement to select investors in a major recapitalisation bid aimed at attracting equity funding and technical supports. The private placement will open on Monday, September 1, 2025, and also close on Friday, September 12, 2025.

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    Both rights and private placements had received unanimous approval from shareholders at the last annual general meeting of the group.

    Group Chairman, Chams Holding Company (Chams HoldCo) Plc, Sir Demola Aladekomo, said the capital raising programme  was central to Chams HoldCo’s ongoing strategic transformation.

    According to him, the new issue, comprising a rights issue and private placement, was structured not just for capital infusion, but for long-term investor confidence.

    “This capital raise supports the execution of a strategic transformation programme, enabling us to scale innovation, deepen our deepen our regional presence, and diversify revenue sources in a manner that is both profitable and defensible,” Aladekomo said.

    Group Managing Director, Chams Holding Company (Chams HoldCo) Plc, Mayowa Olaniyan said the net proceeds from the offers would be used to enhance the group’s capital adequacy, reduce leverage and improve liquidity.

    “The funds will boost our EMV and biometric card production to establish Chama as a leader among Africa’s certified card manufacturers, enable us to expand our digital identity, verification, and secure payment solutions into West and Central Africa,” Olaniyan said.

    Executive Director, Cowry Asset Management, Charles Sanni, commended Chams’ leadership for its vision and commitment. Cowry Asset Management is the lead issuing house.

  • Chams HoldCo eyes expansion to drive profitability

    Chams HoldCo eyes expansion to drive profitability

    Chams Holding Company Plc would inject additional capital into its operations as part of efforts to improve profitability.

    Chairman, Chams Holding Company Plc, Sir Demola  Aladekomo, said that Chams HoldCo Plc was poised to mobilize more funds for expansion in order to boost profitability.

    According to him, the company has embarked on corporate expansion to promote organic growth, boost earnings and deliver shareholder value.

    Addressing shareholders at the company’s hybrid annual general meeting (AGM), Aladekomo noted that despite the challenging operating environment, the  company’s revenue  increased by 92 per cent to N9.6 billion in 2023 from N5 billion in 2022 while total assets grew by 16 per cent  to N19 billion.

    “One of our major plans for 2024 is the fundraising. The funds generated will be rightly invested in the company to generate profit for the group, so our shareholders can start receiving dividends for their investments soon.

    “We aim to increase the production capacity of CardCentre, which will lead to more profit for the group. ChamsSwitch also projects a partnership with a financial institution to execute her partnership with UnionPay. Our subsidiaries have also laid down various plans for the growth and progress of the group.

     It is sufficient to say that 2024 will be an outstanding year for the Chams Group,” Aladekomo said.

    Group Managing Director, Chams Holding Company Plc, Mrs. Mayowa Olaniyan, noted that revenue generation potential of Chams Group,  was boosted by digital solutions of its subsidiaries, especially for the pension fund administrators (PFAs).

    “This is a clear testimony that their digital solutions are impressive, providing innovations that ease the administration of pensions in Nigeria through a seamless and secured remittance system divulged from what was obtainable from traditional banking systems in the past. ChamsAccess continues offering other valuable services to its vast clientele, including cash management and cybersecurity solutions, which contributed more than 54 per cent of group revenue for the year.

    “ChamsSwitch Ltd continued to focus largely on the corporate customer business segments, e-commerce payments, remittances, and bank card processing. It leveraged its existing digital solutions and focused on creating further partnerships locally and internationally, such as its ongoing collaboration with UnionPay International from China. The subsidiary contributed not less than 25 per cent of group revenue in the year.

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    “CardCenter Nigeria Ltd, a leading smartcard personalization company in Nigeria, continued to improve revenue generation unfettered through its engagement with corporate clients in the financial services sector, governments, telecoms, healthcare, education, and energy sectors. Its strategic alliance formed in 2022 has led to its improved financial performance, securing orders from some of the biggest telecom companies. The subsidiary contributed 11.5 per cent of group revenue in the year.

    ChamsMobile Ltd continued its foray into the fintech sector, promoting its personalized banking platform KEGOW, which provides mobile wallet services. This offers seamless e-payment services for the masses in every facet of life. This company provided about nine per cent of the group revenue in the year.

    “The group is relentless in delivery international digital solutions to solve the most pressing problems for our society thereby serving continental dishes with a local candor. Whilst returning to profitability is important to us, we value providing innovative solutions to contemporary problems above every other objective,” Olaniyan said.

  • Chams Holdco eyes new markets on BVN’s decade anniversary

    Chams Holdco eyes new markets on BVN’s decade anniversary

    • Pension portal to remit N150b

    Chams Holding (Chams Holdco) Plc yesterday marked the 10th year anniversary of its execution of the Bank Verification Number (BVN), with a commitment to further deepen the digital landscape with new innovative products and solutions.

    Chams Holdco was the brain behind the BVN biometric solution, an innovation that has become a cornerstone in the financial services industry. Nearly 60 million Nigerians have enrolled on the BVN portal, a major mark on identity verification and security.

    Group Managing Director, Chams Holding (Chams Holdco) Plc, Mrs Mayowa Olaniyan, said the 38-year-old company is continually reinventing itself.

    She noted that the company’s profile was highlighted by the fact that it was the first technology company to be listed on the Nigerian Exchange (NGX) and the second-best performing share on the NGX in 2023.

    According to her, the quest of the company to maintain its leadership position and compete with new breeds on the block has seen it launch a variety of solutions that are effectively capturing market share.

    “One of its exciting products is the PenCentral solution, a platform that resolves long-standing reconciliation challenges related to Pension remittances. After launching the platform in a very short while, it has processed over N14 billion in Pension remittances, positioning itself as a game-changer in the Pension industry. With recent re-engineering efforts, the platform is poised to facilitate the remittance of over N150 billion in Pension this year and aligning with the regulatory drive to deepen micro-pension in Nigeria,” Olaniyan said.

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    She outlined that the group’s recent capacity expansion underscored its commitment to innovation.

    “Chams Holdco now boasts the capability to process an impressive 60,000 financial cards per day, with plans to triple this capacity before the end of 2024, having inked recent deals with its global partners. This expansion not only reflects the company’s dedication to meeting the growing demands of the financial services sector but also positions Chams as a key player in shaping the future of card processing in Nigeria,” Olaniyan said.

    She noted that in a move signaling increased local production capabilities, Chams Holdco has ventured into the telecommunication industry by manufacturing SIM cards locally.

    She added that the strategic initiative not only contributes to the growth of the telecommunications sector but also reinforces Chams Holdco’s commitment to fostering self-sufficiency and technological independence within the Nigerian business landscape.

    “As Chams Holdco continues to innovate and overcome challenges, its remarkable reinvention journey over the past decade serves as a testament to its pivotal role in shaping the evolution of technology and financial services in Nigeria.

    “The company looks ahead with determination, anticipating a future marked by sustained growth, technological advancements, and a continued commitment to driving positive change in the nation’s financial landscape,” Olaniyan said.

  • Chams HoldCo lays out roadmap to sustained growth

    Chams HoldCo lays out roadmap to sustained growth

    • Shareholders to inject more funds

    The board and management of Chams Holding Company (Chams Holdco) have outlined ongoing initiatives and strategic plans aimed at ensuring stronger and sustained growths in the years ahead.

    At an interactive session with the investing public at the Nigerian Exchange (NGX), directors of Chams laid out recent achievements despite the tough operating environments, while assuring shareholders of increased return on investment.

    Group Managing Director, Chams Holding Company (Chams HoldCo) Plc, Mrs Mayowa Olaniyan, said the group would further consolidate on cost optimisation and expand product lines into new sectors through collaborations and partner banks and Fintechs in order to deepen its market share.

    She explained that the group would also embark on off-shore technology businesses and revolutionise the payment and technology industry with fast, secure, and reliable platforms.

    “We are poised for innovation that will revolutionise the payment and technology industry with fast, secure and reliable platforms. We have plans to expand product lines through collaborations and partnerships. The company will seek support from stockbrokers, NGX and advisors in assessing additional capital in tranches via right issues. This was endorsed by shareholders last year and this capital will help to reposition the company to achieve its objectives,” Olaniyan said.

    Making graphical presentation of the group’s recent outstanding financial performance, Olaniyan listed seven key recent achievements, including changing of business model to platform model, transformation into non-operating  holding structure , business expansion, development of PenCentral solution and strong financial performance among others.

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    “We possess the highest fintech license category which has changed the business model to platform model. Our non-operating HoldCo structure is cost effective. We have expanded Perso Bureau to include SIM card production. Chamsswitch has received certification by UnionPay International, the biggest card scheme.

    “We have developed PenCentral solution to resolve reconciliation problems in Pension Fund Administration (PFA) industry. Over N10 billion has been remitted seamlessly this year. We target our fintech solutions at the young ones to drive significant growth and our financial performance shows three digits,” Olaniyan said.

    Chairman, Chams Holding Company (Chams HoldCo) Plc, Sir Demola Aladekomo, said Chams had weathered the storm to come out stronger and would continue to play pivotal role in the technology space globally.

    He said the group had transited from a business-to-government model to a more sustainable direct-to-consumer model, with a view to maximising shareholder value.

    According to him, Chams’ biggest asset was its quality staff who are some of the brightest in the industry.

    He assured the Exchange and market operators of sustained interaction in the nearest future.

    Divisional Head, Capital Market, Nigerian Exchange (NGX), Mr Jude Chiemeka commended the board and management of Chams for providing an up-to-date information of the company’s financial performance, strategic and operational developments to the investing public.

    He explained that NGX had provided a fair market for trading different asset classes.

    According to him, it is part of the post listing requirements of NGX that quoted companies should provide regular information to the market as part of stakeholder engagement.

    He also noted that regular flow of information enhances price discovery.

    “Given that accurate, accessible, and timely information is essential to stimulate market activity, your continued interaction with investors and the capital market ecosystem is important to ensure reasonable flow of relevant information to the market. We anticipate that today’s interaction will be fruitful, encourage transparency, price discovery, and positively impact the overall performance of your stocks,” Chiemeka said.

    Stockbrokers lauded Chams for providing information that show direction in which the company is going.

    They urged the company to sustain the momentum in order to enable investors make informed decision on purchase and sale of its shares.

    Chams HoldCo, formerly Chams Plc, had transitioned to a holding company structure. With its subsidiaries; Chams Switch, Chams Mobile, Chams Access, and Card Centre, Chams HoldCo has evolved from the computer and hardware maintenance company that listed on NGX in 2008 to providing enterprise technology solutions in the identity management and transaction payments space to public and private sector institutions.