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Wednesday, January 30, 2008

Chams takes subsidiaries to capital market

Leading indigenous Information Technology (IT) firm specialising in plastic card technologies and electronic payment solutions, Chams Nigeria Limited, has advanced plans to list its subsidiaries in the stock market in 2009.

Managing Director, Chams, Mr. Demola Aladekomo, who disclosed this at the weekend, said that it’s in line with the aspiration of the company to make the firm an enlarged player in the nation’s economy in the coming years.

Chams group has as its subsidiaries four firms, namely Chams Nigeria Limited, Card Centre Nigeria Limited, Paymaster Limited and Supercard Nigeria Limited.

He explained that Card Centre is provider of plastic cards and currently has the largest card production facility on the continent, while Paymaster positions itself as the foremost provider of Point-of-Sales (POS) systems using multi-brand platforms to deliver unique solutions and providing management support. Supercard, on the other hand, manages identification systems for all categories of clients and sectors in the economy.

Mr. Aladekomo equally pointed out that Chams is pursuing a capitalisation programme, which is still at the private placement phase, and has concluded plans to be listed in the Nigerian Stock Exchange by the third quarter of this year.

Apart from the proposed listing on the exchange, Mr. Aladekomo said the firm would establish two new subsidiaries before the end of 2008 as a further step towards positioning Chams to offer other services in the electronic payment industry.

He explained that the growing status of Chams as IT solution provider made it possible for the firm to be recently recognised with the International Standards Organisation 9001:2000 certification by the Standards Organisation of Nigerian.

Champion Infotel recalls that Chams received the certification this January, a development that got stakeholders endorsement.

Mr. Aladekomo further said the decision to pursue the certification was done as step towards positioning Chams to become a firm that is “extremely influential and highly visible in global technology and whose trusted cutting edge technology will enhance the quality of life in a manner that glorifies God.”

He added, “Our quality policy states that Chams is resolutely committed to delivering excellent information technology solutions that are consistently safe in line with our quality management system, ISO 9001:2000; thus enhancing the quality of life. Management ensures compliance to industry, regulatory and statutory requirements and communicates same to all stakeholders.”

He added that the company’s policy had become very imperative to all it stakeholders in view of the big goals that it had set to achieve, noting that the certification was achieved based on that

He expressed confidence that this certification would open lots of doors for his firm toward becoming an emerging institution that all stakeholders will be proud of.

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