Chams to Expand Footprint in Fintech, Gets Mobile Money Licence

By Dipo Olowookere

The new group managing director of Chams Holdings Plc, Mrs Mayowa Olaniyan, has disclosed that the company was investing more to increase its footprint in the fintech space.

She made this disclosure on Thursday at the closing gong ceremony to honour her appointment as the first female GMD of the organisation.

While addressing the investing community, Mrs Olaniyan announced that the firm had obtained a mobile money licence from the Central Bank of Nigeria (CBN), noting that this would enable Chams to offer innovative financial services to Nigerians.

She said the aim of the board and management of the firm is to continue to give shareholders value for their investment in the company.

The GMD commended the management of the Nigerian Exchange (NGX) Limited for hosting the company, noting that the organisation was committed to maximising shareholder value amidst its restructuring and repositioning in the technology space.

“We are investing in expanding our footprint, especially in the Fintech space.

“We have received approval from the central bank for a mobile money license.

“One of our goals now is to align the price in the market to the value of the company, and on that note, we will work more with the broker community and take advantage of the Facts Behind the Figures presentation platform of NGX,” she said.

In his remarks, the Divisional Head of Capital Markets at NGX, Mr Jude Chiemeka, congratulated the company for the appointment of Mr Olaniyan, saying it was a welcome development and emphasised the organisation’s commitment to inclusivity.

He encouraged the board and management of Chams to extend its market engagement, stressing that it boosts investor confidence.

“In this new era of the company’s existence, it will be great to further engage the market. One of the ways we at the exchange encourage listed companies is to take advantage of the Facts Behind the Figures platform, which was set up by NGX to help listed companies inform the capital market community of their performance, a strategy which helps investors and other stakeholders understand the firm,” Mr Chiemeka stated.