Chams profits sink as costs bite, debt piles up
Chams Holding Company Plc saw its revenue climb 4 percent during the first nine months of the year, reaching 13.60 billion naira compared with 13.14 billion naira in the same period of 2024. The technology firm’s financial statements for the quarter that ended on Sept. 30, 2025, showed net profit after tax of 500.7 million naira, with total assets of 20.60 billion naira and shareholder equity at 10.56 billion naira. Rising finance expenses of 626 million naira and elevated operational expenditures compressed margins, though management has begun executing plans to lower debt servicing requirements and improve the balance sheet.
The company completed a 3.6 billion naira private placement with full subscription, signaling market trust in its business plan. Group Managing Director Mayowa Olaniyan expressed confidence about future prospects, citing the expansion of fintech services through alliances and new offerings. ChamsAccess Limited processed more than 150 billion naira in retirement fund payments for over 1,500 businesses via its PenCentral system and launched pension automation services in Sierra Leone. CardCentre partnered with MTN Nigeria to manufacture biodegradable SIM cards in a pioneering environmental initiative. ChamsSwitch Limited is pursuing a restructuring under new leader Mudiaga Umukoro that emphasizes payment connectivity and merchant technologies.
