Chams Holding Plc (Chams HoldCo), a major player in Nigeria’s technology and identity management sector, has earned commendations from Nigerian Exchange Limited (NGX) for its commitment to transparency and its growth strategy.
The accolades came during the presentation of Chams HoldCo’s financial performance and strategy on the Facts Behind the Figures (FBF) platform at the Exchange on Thursday, 14th September 2023, in Lagos.
Mr. Jude Chiemeka, the Divisional Head of Capital Markets at NGX, expressed delight over Chams HoldCo’s decision to use the FBF platform to engage with the investment community and share its financial performance, strategic initiatives, and operational developments.
He emphasized the importance of accurate, accessible, and timely information in driving market activity and encouraged continued interaction between Chams HoldCo and investors to ensure the flow of relevant information.
Chiemeka said, “We anticipate that today’s interaction will be fruitful, encourage transparency, promote price discovery, and positively impact the overall performance of your stocks.”
Chams HoldCo, formerly known as Chams Plc, transitioned to a holding company structure with the aim of enhancing shareholder value. The company’s subsidiaries, including Chams Switch, Chams Mobile, Chams Access, and Card Centre, have evolved from a computer and hardware maintenance company, which listed on NGX in 2008, to a provider of enterprise technology solutions in identity management and transaction payments for both public and private sector institutions.
Mrs. Mayowa Olaniyan, the Group Managing Director of Chams HoldCo, described the company’s half-year results as impressive and improved. She expressed the company’s intent to finish the financial year strongly, targeting triple-digit year-on-year growth driven by expanded business activities and emerging opportunities within the group.
Olaniyan outlined Chams HoldCo’s outlook, highlighting plans to consolidate cost-optimization measures and cross-selling synergies within the group to sustain bottom-line performance. She said, “We are poised for innovation that will revolutionize the payment and technology industry with fast, secure, and reliable platforms. We have plans to expand product lines through collaborations and partnerships.”
In discussing future capital strategies, Olaniyan mentioned that the company would seek support from stockbrokers, NGX, and advisors to assess additional capital in tranches through right issues. This approach was endorsed by shareholders last year and is expected to help position the company for its strategic objectives.
Sir Demola Aladekomo, the Chairman of Chams HoldCo, highlighted the company’s transition from a Business-to-Government model to a more sustainable Direct-to-Consumer model. He reaffirmed the company’s commitment to maximizing shareholder value, underlining its dedication to growth and innovation in the technology and identity management space.
