Charms To Provide Solutions To 10,000 Coys In 3yrs

… controls 5% of market share

… plan to raise funds soon

In its quest to help grow and make Pension contribution scheme seamless in the domestic economy, leading provider of intelligent innovative business solutions, Charms Holdco Plc, plans to have 10,000 companies in its web in the next three years.

The company also said its presently controls 5 per cent of the market share as at half year 2023, noting that, 500 companies have already signed up to it’s developed PenCentral solution, aimed at resolving reconciliation problems in the PFA industry.

The Group Managing Director/CEO, Mayowa Olaniyan, who made these remarks on Thursday at the company’s Fact Behind the Figures (FBF) on the floor of the exchange, said financial indicators from the company as at H1 2023, showed it’s positive growth trajectory.

According to her, with the operational expansion of the company, it will be needing funds injection to carry out some of its growth strategic objectives so as to continue to give return on investment to investors.

To this end, she said the company will be coming to raise funds through Right Issues in the capital market, even as she sought  the support of stakeholders in making it a huge success.

Olaniyan who was not specific on the total funds to be raised from the market, said, “The fund raising will be in phases as the need arises. We are still talking with our advisors, and when we finalize the arraignment we will approach the market.

It will be recall that, in its bid to increase shareholder value, Chams HoldCo, formerly Chams Plc, transitioned to the 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.

Reeling out the company’s key achievement in 2023 YTD and H2 outlook, she said, “we posses the highest Fintech license category, which has changed the business model to platform business. we are set to achieve regional growth beyond Nigeria.

Others includes; “The non-operating Holdco structure is poised for cost-efficient growth as the back office gets consolidated centrally to optimize costs across the group.

“Business expansion of Person bureau to include SIM card production and expansion of infrastructure to deliver 5million cards per week. A major supplier of SIM to MTN and others.

“A major milestone by Chamsswitch as a result of its certification by the biggest card scheme in the world, UnionPay International, is to drive payment across borders.

“Developed PenCentral solution to resolve reconciliation problems in the PFA industry. Over N10billion has been remitted seamlessly through PenCentral this year.

“The Fintech solutions are targeted at a critical population which are the young ones, to drive significant growth.

While financial performance shows three digits YoY growth in revenue and profit in 2023, Olaniyan said H2 2023 will see further consolidation on cost optimization measures within the group and cross-selling synergies to sustain bottom-line performance.

According to her, there will be expansion of product lines into new sectors through collaboration and partnership.

“Finish strong with sustained triple digit YoY growth from expanded business activities and emerging opportunities within the group. We are poised for innovation that will revolutionize the payment and technology industry with fast, sincere, and reliable platforms. Expand business with partner banks and Fintechs to drive the growth of payment solutions, including delivery of UnionPay card solutions for cost-effective cross-border trade”, she added.

Earlier, the Nigerian Exchange Limited (NGX) commended the leadership of Chams Holding Plc (Chams HoldCo) for leveraging the FBF platform of the Exchange to engage the market on its performance and strategy, urging continued transparency.

The Divisional Head, Capital Markets, NGX, Mr Jude Chiemeka said, “We are delighted that Chams HoldCo has chosen to use this forum to communicate its financial performance, strategic and operational developments to the investment community.

“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 added.

The Group Managing Director in her response to stakeholders questions,  described the firm’s half-year results as impressive and improved, saying that the company plans to finish the financial year on a strong note with three digit year-on-year growth from expanded business activities and emerging opportunities within the group.

“The company will seek support from stockbrokers, NGX and advisors in assessing additional capital in tranches via right issues. According to her, this was endorsed by shareholders last year and this capital will help to reposition the company to achieve its objectives.”

The Chairman, Chams HoldCo, Sir Demola Aladekomo noted that the company has pivoted from a Business to Government model to a more sustainable Direct-to-Consumer model. He also hinged on the company’s commitment to maximising shareholder value.