Chams Holding Firm Plc, a Nigerian id administration and transactional know-how supplier, grew its earnings by 17.89% to ₦17.48 billion ($12.61 million) in 2025, in accordance with its unaudited full-year outcomes.
The expansion was largely pushed by a 573.16% bounce in card gross sales, which the agency categorises as “knowledge card merchandise provide of playing cards,” to ₦5.90 billion ($4.26 million). This was pushed by elevated SIM card purchases from telecom operators, and banks’ demand for playing cards remained sturdy.
Chams’ revenue for the yr climbed by 54.86% to ₦605.58 million ($436,753). Since 2020, the corporate’s turnover has jumped by 728.75%.
The 5-12 months Dash
Income trajectory (2020–2025)
728.75% Development in 5 Years
Chams has multiplied its income ~8x since 2020, pushed largely by its pivot to card manufacturing and id administration.
The corporate’s 2025 outcomes present how it’s cashing in on two of Nigeria’s busiest lanes: SIM distribution and funds infrastructure.
As telecom operators purchase extra SIM playing cards and banks proceed issuing playing cards, Chams earns extra from supplying the bodily layer behind these ecosystems, whereas biometrics nonetheless does most of its income heavy lifting.
“The enlargement into the manufacturing of SIM playing cards for telecommunications suppliers and initiatives in cross-border funds are key contributors to efficiency enhancement,” the corporate informed TechCabal in March 2025.
The corporate can be a significant participant in biometric id options, with purchasers throughout authorities and monetary companies. Its banking prospects embrace Keystone Financial institution, First Financial institution, and Sterling Financial institution, whereas public-sector companions embrace the Impartial Nationwide Electoral Fee, the Nigerian Customs Service, the Nationwide Well being Insurance coverage Scheme, the Nigerian Communications Fee, and several other pension fund directors.
Regardless of the surge in card gross sales, biometrics-related income, together with counting, cellphone, laptop, and sorting machines, remained Chams’ largest earnings line in 2025, producing ₦10.65 billion ($7.68 million).
That product combine additionally pushed the price of gross sales up by 30.77%, contributing to a 13.06% decline in gross revenue.
The Revenue Paradox
How Chams made extra revenue whereas margins shrank.
1. The Strain (Price of Gross sales)
Price of Gross sales
▲ Spiked 30.77%
(Down 13.06%)
₦3.79bn
2. The Aid (Effectivity Good points)
The corporate slashed overheads to guard the underside line.
Admin Bills
↓ 19.7%
Main effectivity enhance
Taxation Price
↓ 57.2%
Vital saving
3. The Backside Line
₦605.6m
▲ Web Revenue grew 54.9%
Takeaway: Decrease Admin and Tax payments absorbed the shock of rising Price of Gross sales, permitting Web Revenue to soar.
After posting a 42% year-on-year income development in 2024, Chams chairman, Demola Aladekomo, stated the corporate would pursue fundraising as a part of its development technique.
On August 5, 2025, Chams introduced plans to boost ₦7.65 billion ($5.52 million) by a rights situation and personal placement. By December 23, 2025, the Nigerian Trade Group (NGX) stated an extra 2,348,030,000 odd shares had been listed following the rights situation. As of January 30, 2026, the corporate had a market capitalisation of ₦45 billion ($32.46 million), with its share worth at ₦5 ($0.0036).
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