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Tag: Chams PLC

  • Chams assures on enhanced values

    Chams assures on enhanced values

    • Honours directors

    Chairman, Chams Holding Company Plc, Sir Demola Aladekomo, has assured that the group would ensure enhanced value delivery to its shareholders and the financial services industry.

    Aladekomo spoke during a send-off party to celebrate some retiring directors.

    The retired directors included Dr. Dere Awosika, Dr. Evans Woherem; Pastor Ituah Ighodalo; Mr. Femi Williams; Mr. Gavin Young, Mrs. Funke Alomooluwa; Mr. Emmanuel Ojo and Mr. Kehinde Lapite.

    Aladekomo said the firm had been on a journey for the last 38 years. He noted that the journey was filled with “highs and lows.” Aladekomo was filled with appreciation for the staff but, most importantly, the retired directors who were the key drivers behind the firm’s greatness today.

    “This is to celebrate the 38th year journey that has been most interesting. A journey that speaks of perseverance and service to humanity. A journey that produced a lot of great men and women. Tonight, we celebrate some of those that directed the affairs of this company, which means quite a lot to Nigeria. They worked on a project that solved a lot of problems in the Nigerian financial industry. Today, you can transact business in the bank due to their reforms of the e-payment solution,” Aladekomo said.

    He commended the team at the Nigerian Interbank Settlement System (NIBSS) that worked with the Chams’ team in delivering the Bank Verification Number (BVN) project and appreciated them.

    Group Managing Director, Chams Holding Company Plc, Mrs. Mayowa Olaniyan, said the retired directors needed to be appreciated in view of the great work they did in the company.

    “Even though they were non-executive directors, they worked just like executives, and they have been highly supportive after their retirement. The least we can do to appreciate them is to honor them with this send-forth programme,” Olaniyan said.

    Olaniyan, who x-rayed the work of her predecessor, Gavin Young, said the former Group Managing Director at Chams Nigeria did great work. She credited him for creating value in the system and reviewing the solutions. She explained that she was leveraging his work.

    In her message to the shareholders, she said Chams would continue to play a major role in Fintech and has one of the highest licenses in the industry. “Our Cardcentre recently partnered with a few companies within Nigeria and in Asia, and it has strengthened capacity and improved operations. Chamsswitch has recently partnered with some banks. This is the time for our shareholders to smile.”, Olaniyan said.

    One of the retired Director, Mrs. Funke Alomooluwa, who responded on behalf of others, expressed the joy of the retired directors for the recognition of their contributions to the growth and development of the Company.

    AlomoOluwa explained that she worked under the tutelage of Aladekomo when she was a member of the National Youths Service Corps (NYSC). According to her, she was later privileged to serve on the team that delivered the BVN, which revolutionized Nigeria’s banking system.

  • Chams rebounds to profit

    Chams Plc has recovered from a loss of N1.27 billion in 2017 to a profit of N380 million in 2018, as the identity management and electronic payment company started to reap from a recent restructuring.

    Key extracts of the audited report and accounts of Chams for the year ended December 31, 2018 showed that the company’s total assets rose by 10 per cent to N5.25 billion in 2018 as against N4.77 billion in 2017. Total liabilities also reduced by 14 percent to N3.60 billion in 2018 compared with N4.20 billion in 2017. For the first time in several years, earnings per share turned positive at a modest 7.0 kobo.

    The company’s net profit margin increased on the back of 54 per cent growth in revenue while finance expenses declined by 34 per cent. Turnover grew by 54 per cent due to increased income from identity management services, sales, maintenance of Bank Verification Number (BVN) services, supply of cards, sales of the Access control as well as income from switching service. The report also showed significant increase in other operating income due to amount recovered from impaired receivables and rental income.

    Chams had in 2018 restructured its operations for global competitiveness, including a change in business model, placing premium on identity management and introduction of innovative products and services.

    Its Group Managing Director,  Femi, Williams said the results showed improvement in internal efficiency and the positive effects of the management’s determination to revamp the company’s operations for enhanced profitability in other performance indicators.

    According to him, the 2018 performance was a result of the group’s doggedness and the pragmatic approach it adopted in tackling the array of issues that plagued it and the industry for a long time now.

     

     

  • Our problems will persist until we find enduring solutions to identity – CHAMS GMD

    Our problems will persist until we find enduring solutions to identity – CHAMS GMD

    Chams Plc, one of Nigeria’s leading companies has evolved over the last 3 decades from computer and hardware maintenance to the provision of enterprise technology solutions in identity management and identity transaction systems for the public and private sectors.

    Recently, it facilitated the identification process for the government of the state of Osun. The initiative called ‘Kaadi Omoluabi’ has received several accolades and commendations from the Osun citizenry and other stakeholders within and outside the state.

    Mr. OLUFEMI WILLIAMS, the Group Managing Director of the firm, in an interview with The Nation reporter MOSES EMORINKEN sheds some light on the relevance and ubiquitous benefits and solutions of data capturing to the social, economic and political problems bedeviling the country.

    What is the relevance of the Omoluabi Identity Card to the Osun citizenry?

    As His Excellency, Ogbeni Rauf Aregbesola, the executive governor of the state of Osun mentioned at the launch of the initiative on Tuesday, the Identity Card Initiative is about knowing the people that he governs. There is no way the government can plan or manage the affairs of the state, especially with respect to what the people want without detailed understanding of biometric statistics.

    It also helps the government measure the effectiveness of the services it delivers to the people.

    It creates a platform for any member of the state to conveniently transact with the government and vice-versa.

    For instance, if the government wants to build new schools or construct new roads, it can easily make objective and informed decisions about which part(s) of the state needs these infrastructural facilities depending on the population of the people, where economic transactions are preponderant, etc.

    It allows government institutions to have interconnected database. It cuts out the duplicity in registering and capturing biometric data of its citizenry. This initiative provides a unique number that can be used for such purposes.

    We did it for students and the impact was major. Immediately, the cost of managing, sponsoring and promoting affairs around the educational sector was optimized. Before then, there were haphazard approaches because of the paucity in statistics.

    Now, with the touch of a button the educational details of a child for can be generated. This leads to measurable results over time.

    How long did it take CHAMS to come up with this solution?

    This is the forte and core competence area of CHAMS. We have participated in similar projects in the past. We have been on this project for four years. The reason was because the government had more pressing project at the time before very recently it decided to take up the Identity Card Initiative.

    This novel innovation in identity capturing is not only opened to indigenes of the state but also to residents within the state.

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    What is the level of response of the people of the state to this initiative?

    The responses have been very encouraging from members of private organisations and the civil society. They believe that the initiative is very timely and custom-made for the people and government of the state.

    Does CHAMS have plans to diversify into other real sectors?

    Our core focus lies in delivering intelligent business solutions. However, there are two major industries we intend to dominate in the next few months, they are – Agriculture and Health acre. For now, that is all we can reveal.

    Is it possible to have a central database for the biometric data of Nigeria to avoid proliferation and duplicity?

    This can be answered in two ways – technical and political. I have an authoritative response to the former but with little or no political explanations for the later.

    Technically, one of the projects awarded for data capturing in 1976 by former President Olusegun Obasanjo would have solved it. However, the problems of awarding and re-awarding contracts have brought us to where we are today.

    The only solution is what the Federal Government is trying to do – which is harmonization. There is a need to harmonize these databases together. The process will be challenging but not impossible to do. At the moment there exists huge repository of data at the Federal Road Safety Commission ( FRSC ), sim card registration centres, Independent National Electoral Commission ( INEC ), Nigerian Communications Commission ( NCC ), states etc. There are solutions and technologies that can harmonize data effectively.

    What exactly is CHAMS as an organisation doing differently?

    Every business goes through series of transformations. For CHAMS, we have evolved overtime according to the overwhelming changes in the needs, expectations and taste of consumers. We started as a Computer Hardware and Maintenance Company, to Networking and then to Smart Card Technology. It was the Smart Card Technology that led to the formation of value card; which was the first successful payment card in Nigeria.

    After a while, we moved into Identity Management because we realised that the problem(s) of this country will not disappear until we solve the processes of identity. Identity is like the Certificate of Ownership (C of O) for land. The (C of O) is an ordinary document, however, because we believe that the (C of O) represents a land somewhere, we can conveniently do a transaction with it. The same things can be done with the identity number to represent a person.

    The next phase for us is to translate the business from just Identity Management into intelligent businesses that can be built on identity. We have the human capital to deliver. We have a bunch of experienced, versatile and energetic executives to drive the processes.

    What should we expect from charms in the next 5 years?

    We would have dominated two industries and be listed on the London Stock Exchange.

  • Shareholders ratify appointment of Chams’ Plc GMD-designate

    Shareholders ratify appointment of Chams’ Plc GMD-designate

    In what could be described as an imprimatur of support for the board and management of Chams Plc, shareholders of the company has hailed the appointment of the Group Managing Director-designate, Mr. Olufemi Williams.

    The shareholders gave their vote of confidence shortly after the announcement of Williams’ appointment by the company’s chairman, Very Rev. Ayo Richards at the 31st Annual General Meeting of the company in Lagos.

    Speaking on behalf of the shareholders, Mallam Shehu Mikail, National President, Constance Shareholders Association of Nigeria, said the appointment of Mr. Williams was well-thought out, adding that the shareholder group would rally round the new management.

    In his opening remarks, the chairman, who noted that the last 12 months has been a period of consolidation for the company, recalled that: “Sir Demola Aladekomo has been a very strong leader, the only Group Managing Director and CEO in the company’s great and nearly 30-year history, and one who has managed the company through challenging times and market transitions. The board is grateful for his innumerable contributions to the company and his distinguished tenure as CEO over the last 29 years.”

    The board chair also said the directors recommended payment of dividend of 2 kobo per ordinary share of 50 kobo held, just as the outgoing GMD, Aladekomo hinted that the company has set new corporate objectives for the new financial year.

    Among other things, he said the company would focus more on training and development, boosting staff welfare, improve customer base, pushing brand awareness, growing revenue targets, paying dividends by the end of the 2015 financial year among others.

    Until the announcement of Aladekomo’s retirement, Williams was the Deputy Managing Director, and a Chams Plc veteran having joined the company in 1990 as a Computer Engineer.

    He rose to the position of General Manager in January 2001, and held same until he joined SuperCard Limited as Managing Director in March 2004. Olufemi was appointed Deputy Managing Director, Chams Plc in January 2012 after the merger of SuperCard Limited with Chams Plc.

    Other appointment ratified by the board and shareholders was Mr. Lukman Balogun as new Deputy Managing Director, he is currently the MD of CardCentre Nigeria Limited, a subsidiary of Chams Plc.

    Founded in 1985, Chams transited from a privately held company into a public liability company in 2008.

  • E-government: Anambra embarks on resident identification programme

    To improve public service delivery to her citizens in the areas of health, welfare and transportation, among others, the government of Anambra State is investing in residents’ identification programme. The project being executed by Chams PLC will enable the government of Anambra State to provide better public services at less cost to residents across rural and urban areas of the state.

    Commenting on the project, Mr. Demola Aladekomo, Managing Director, Chams PLC said, “The utilisation of information and communication technology to improve service delivery in the public sector in Nigeria will make governance inclusive – bringing it closer to the people. It implies improved access to public service and drastic reduction in the high incidence of fraud and wastage often associated with public sector welfare programmes”.

    Aladekomo stated that, globally, governments are investing in meeting the identity management needs at city, state and regional levels. Because it provides exceptional opportunity to cut capital and recurrent administrative costs, while also protecting citizens such as pensioners by making it difficult for dishonest persons to steal their benefits. He added that, “It is a welcome development that Anambra is at the forefront of heralding access to improved public services through e-government channels”.

    Mr. Olufemi Williams, Deputy Managing Director, Chams Plc said, “The ongoing implementation of residents’ identity management programmes by Anambra State will enhance the ability of the state government to make short, medium and long term plans for the benefit of their people.

    Upon completion, the state government will no longer depend on sketchy data in their bid to formulate and implement policies, projects and programmes because the number of people to cater for across sectors, and in rural and urban areas is known”.

    According to Williams, adoption of resident identity management programme by state governments will ensure appropriate allocation of resources to various sectors of a state economy in a manner that meets the real needs of residents of the state. “For instance, using data from its resident identity management project, a state government will be able to classify neighbourhoods based on their population thereby making adequate provision for public utilities in each neighbourhood based on the number of residents,” he disclosed.

    It would be recalled that Lagos State Government has invested in an ongoing residency registration project with the aim of enhancing economic planning through the use of accurate population data in the formulation and implementation of public service policies.