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Chams Holding Company Plc (Chams HoldCo) has emerged as the leading company in terms of capital gain on the Nigerian Exchange Limited (NGX), recording an impressive 600 percent increase.
Following media inquiries over the weekend, Chams HoldCo's spokesperson, Olaniyan, shed light on the factors driving the company's resilience and outstanding performance.
Olaniyan explained, "Chams HoldCo's remarkable financial performance is the outcome of meticulous backward integration efforts. Through collaborations with strategic partners, Card Center Nigeria Limited (CCNL), a subsidiary of Chams HoldCo, is poised to introduce new production lines for SIM cards and aims to become a net exporter of its products to other African countries.
"The company's strategic initiatives, such as expanding its card production capabilities, successful onboarding of major players, and venturing into local SIM card production, have played pivotal roles in its financial success. Chams HoldCo's ability to adapt to market dynamics and pioneer innovative solutions positions it as a frontrunner in Nigeria's rapidly evolving tech landscape.
"Notably, Card Center Nigeria Limited (CCNL) has been a key contributor to this success story. Renowned 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 underscores Chams' dedication to innovation and represents a bold step towards reducing industry reliance on foreign exchange, ensuring cost-effectiveness in SIM card production."
