"Chams Corporation Reports 42% Revenue Growth, Approves Rebranding and Capital Raising for Expansion"

Chams Holding Company PLC achieved a 42% revenue increase to N14.93 billion in 2024, with profit after tax rising nearly twentyfold to N391 million from N20 million. Operating profit tripled to N1.2 billion from N370 million, despite economic challenges like naira depreciation. At the Lagos AGM, shareholders approved rebranding to Chams Corporation PLC, a rights issue, private placement, and restructuring for fintech growth. Chairman Demola Aladekomo noted the moves position the firm for opportunities, with regulatory approvals underway. GMD Mayowa Olaniyan highlighted African expansion via ChamsAccess X Consortium and a new card manufacturing facility. Board appointments were ratified, earning shareholder praise for the turnaround.

References

“Chams records 42% revenue growth” – Punch NG (https://punchng.com/chams-records-42-revenue-growth/), published around July 2025. Primary source for financial figures, AGM approvals, rebranding, and expansion plans.