Mayowa Olaniyan, appointed GMD/CEO of Chams Holding Company Plc in December 2022, witnesses a remarkable turnaround in the company’s shares, rising from 50 Kobo in 2022 to ₦2.50kobo.
The share price records a year-to-date increase of 6.9%, reflecting the company’s proper valuation.
CEO’s Perspective: Share Price Reflects Organization’s True Value
In a call with TechCabal, CEO Olaniyan notes that the share price now accurately reflects the true value of Chams Holding Company, signaling the success of the organization’s strategic decisions.
Investor Reward: Chams’ Transition from Government to Consumer Projects
Chams garners investor favor by shifting focus from government clients, a decision prompted by a contentious National identity project that incurred a $100 million loss.
The company, under Chairman Demola Aladekomo, emphasizes its commitment to consumer projects, marking a significant strategic shift.
Holding Company Structure: Diversification in Financial Services
A key element of Chams’ transformation is the adoption of a holding company structure.
This shift enables its subsidiaries to compete in various financial services sectors, including mobile money, cross-border payments, and education financing.
ChamsSwitch’s Focus: Solving Cross-Border Payment Bottlenecks
ChamsSwitch, a subsidiary, positions itself strategically by concentrating on cross-border transactions and providing gateway payments.
The subsidiary identifies a profitable niche in resolving payment bottlenecks for traders involved in international transactions, particularly in the vibrant Computer Village at Ikeja.
Global Collaboration: ChamsSwitch Partners with UnionPay for International Payments
ChamsSwitch strengthens its market position by partnering with UnionPay, a Chinese financial services corporation.
The collaboration, coupled with integration with Nigerian banks, enables the subsidiary to issue UnionPay cards supporting international payments.
Expansion Plans: CardCentre’s Ambitious Growth Strategy
CardCentre, another Chams subsidiary, takes center stage in card production, including SIM and debit cards.
Despite a ban on SIM card importation in August 2022, the subsidiary produces five million cards weekly and plans further expansion.
The ambitious goals include producing cards for Airtel Nigeria, expanding to other African countries, and exploring backward integration for local production.
Chams’ Confidence in NGX: Share Price Stability Boosts Listing Plans
As Chams’ share price stabilizes on the NGX, CEO Olaniyan expresses confidence in listing on the Nigerian Stock Exchange.
potential scrutiny associated with being a listed company, the move is deemed essential for sustainability, continuity, and accountability.
Subsidiaries’ Role in NGX Growth: Building Investor Confidence
Chams, with its subsidiaries—ChamsSwitch, ChamsMobile, CardCentre, and ChamsAccess—actively contributes to building investor confidence.
The collective effort positions the company for potential growth on the NGX by the end of the year.