Chams Expands Operations, to Grow Streams of Income

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The Chairman, Chams Plc, Mr. Demola Aladekomo has said the company expanded its digital solutions in a strategic move to grow income streams and deliver increased value to shareholders.

Aladekomo stated this while addressing the shareholders at the 37th annual general meeting (AGM) in Lagos, saying the firm had taken significant steps in ensuring that it continued to innovate, grow, and create the cutting-edge digital solutions and services that would be relevant today and fit for the future.

“During early to mid-2020, we embarked upon a new vision for the Chams Group with the primary objective to reinvent Chams to deliver value for our shareholders through a Consumer-Africa-Digital approach. This set us on a path to diversify our income streams through consumer-facing innovative digital solutions,” he said.

According to him, Chams Plc is historically a company which has achieved success and household brand recognition through large projects such as identity management, payroll management, BVN and voter’s registration, amongst others.

“However, over the past few years, Chams has evolved into a Group with diverse interests, particularly in the digital solutions and Fintech payments space.

“Core elements of our vision are to ‘incubate and grow’ digital solutions, ring-fencing for stakeholder value, whilst adopting a 35-year-old start-up culture. This will enable the Group to be nimble and efficient in our drive towards achieving our Unicorn Vision,” Aladekomo said.

He said the major focus had been to support and grow their fintech payment interests through their subsidiaries; ChamsSwitch Limited and Chams Mobile Limited and thereby extending payment solutions across a broad range of consumer and business segments.

Also speaking, the Group’s Managing Director, Mr. Gavin Young, stated that the company had recognised the need to focus on innovative digital solutions across a number of sectors, and particularly the consumer segment.

According to him, the objective is to reinvent and rebirth through a Consumer-Africa-Digital approach whilst becoming an international digital solutions provider with an ‘Africa-first’ approach.

“We have a clear vision and continue to set ourselves ambitious aspirations. We are committed and confident in the future we are creating.

“To be positioned for the future innovations and disruptions in our industry, we will continue working smartly to develop and implement digital solutions which benefit our stakeholders and customers.

“We are confident that our business is well positioned with the expectation of strong growth to be delivered in the years ahead, as we are more focused than ever on driving performance to new levels,” Young said.

“We would also like to emphasize to our valued shareholders and broader investor group, that management will continue to strive to achieve a much-improved performance so that we can reward our patient shareholders accordingly. We are confident that our strong focus on fintech payments across a broad range of segments will deliver significant value.”

SOURCE: THIS DAY

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