Investment in local production of SIM cards key driver of Chams Holding growth in 2023
The Group Managing Director of Chams Holding Company Plc, Mrs Mayowa Olaniyan has attributed the investment of the company in the production of SIM cards locally as a key driver of its growth in 2023.
The Company’s Group Managing Director, Mrs Mayowa Olaniyan, had in September, presented the Facts Behind its Figures to the Management of NGX and Stockbrokers, when she assured the investing public of brighter days ahead of Chams HoldCo.
Despite the inclement operating environment, in Nigeria, Chams Holding Company PLC’s ( Chams HoldCo) has continued to sustain its brand positioning following its trajectory of excellent performance.
Only recently, the Company topped the list of quoted companies with over 600 percent capital gain on NGX and lots more.
Prompted by media enquiries at the weekend, Olaniyan unveiled some of the driving forces behind the Company’s resilience and topnotch performance.
“Chams Holdco’s impressive financial performance is a result of meticulous backward integration efforts. Collaborating with strategic partners, CCNL is set to introduce new production lines for SIM cards and is looking to become a net exporter of its products to other African countries.
“The company’s strategic moves, including the expansion of its card production capabilities, the successful onboarding of major players, and the groundbreaking venture into local SIM card production, stand out as key contributors to its financial surge.
“Chams HoldCo’s ability to adapt to market dynamics and pioneer innovative solutions is undoubtedly shaping its trajectory as a frontrunner in Nigeria’s rapidly evolving tech landscape.
“Card Center Nigeria Limited (CCNL), has been a key player in this success story. Widely recognised for its production of financial cards, CCNL has strategically diversified into the local production of SIM cards for Telecoms and Internet Service Providers (ISPs) operating in Nigeria. This move aligns with Chams’ commitment to innovation and signifies a bold step towards reducing industry reliance on foreign exchange and ensuring cost-effectiveness in the production of SIM cards,” she said.
