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Chams Consolidates Business, Focuses on Improving Shareholder Value

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Chams Plc, a leading identity management firm, has announced the successful restructuring and consolidation of its operations to focus on the business of identity management.

 

Very Reverend Ayo Richards, chairman of Chams Plc, who disclosed this at the company’s 31st Annual General Meeting (AGM) in Lagos recently, said Chams and its subsidiaries, including ChamsAccess and CardCentre, have further entrenched their relationships with clients as well as local and international trade partners to ensure a sustained growth trajectory and market dominance in identity management.

 

Richards said “In spite of the tough market conditions in the 2014 financial year, we recorded improved performances. Indeed, the last 12 months have been a period of consolidation for us as a Group. We entrenched our business relationships with our clients and restructured our operations by laying more emphasis on our core business.”

 

Chams Group posted impressive financial results across key parameters as reflected in its revenue growth of 20 per cent from N3.44bn in 2013 to N4.12bn in the 2014 financial year. Operating profit rose by 22.5 per cent to N392.30m compared with N320.10m in 2013.

 

Profit after tax rose strongly by over 48.7 per cent from N188m in 2013 to N280m in 2014.

 

Shareholders’ fund also improved by 26.5% per cent from N4.7bn at full year 2013 to N5.9bn in the 2014 financial year.

 

Explaining the strategic thrust of the business in 2014, Richards said, “To consolidate the achievements we have recorded in the last three years and foster our aspiration of dominating the identity management space in Africa, we partnered with a renowned consulting firm to forge a corporate strategy that would serve as a roadmap for the medium term. This has resulted in streamlined organizational structures and processes, offering of higher-margin, value-added services, and the development of innovative products and services to meet market needs. And we are indeed poised to release innovative products that will have major impact in the Identity Management space and make life more secure and convenient for our customers.”

 

At the AGM, shareholders approved payment of dividend of 2 kobo per ordinary share of 50 kobo held translating to N93.921m as proposed by the company.

 

Reverend Richards thanked shareholders for their understanding, adding that the board and management of Chams Plc are working assiduously to improve dividend payout. 

 

On his part, Demola Aladekomo, outgoing Group Managing and Chief Executive Officer, Chams Plc, said “Our ability to deliver growth across major financial indicators further attests to our strong market positioning and industry leadership. In the last financial year, we achieved some major milestones on our existing projects and also fostered numerous new business partnerships. This year, our objectives are based on a ‘PMR’ model, citing focus on people, increase in market share and improving return to shareholders.

 

The 31st AGM also heralded a major leadership change in the company with Mr. Demola Aladekomo, founding group managing pirector, proceeding on terminal leave ahead of his retirement in September.

 

Aladekomo handed over to Olufemi Williams who takes over as the Group Managing Director and Chief Executive Officer in alignment with the board of directors’ ratified succession planning which emphasizes promoting capable internal candidates to leadership positions.

 

Until the announcement of Aladekomo’s retirement, Williams was the Deputy Managing Director, and a Chams Plc veteran having joined the company in 1990 as a Computer Engineer.

 

He rose to the position of General Manager in January 2001, and held same until he joined SuperCard Limited as Managing Director in March 2004. Olufemi was appointed Deputy Managing Director, Chams Plc in January 2012 after the merger of SuperCard Limited with Chams Plc.

 

Luqman Balogun, managing director of CardCentre Nigeria Limited, a subsidiary of Chams Plc, has been named the Deputy Managing Director.

 

Prior to joining CardCentre in June 2013 as MD/CEO, Balogun spent 22 years in the banking sector in a career spanning retail and commercial banking, banking operations and Information Technology, credit and relationship management, cards and electronic banking, and project management.

 

 

 


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FG to Fnalise National Intellectual Property Policy  Soon– NCC Boss

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Dr John Asein, director-general, Nigerian Copyright Commission (NCC), has said that the federal government is taking steps to finalise its National Intellectual Property (IP) Policy and Strategy for the country.

FG to Fnalise National Intellectual Property Policy  Soon– NCC Boss

Asein disclosed this on Friday while commemorating the 2024 World Intellectual Property Day with the theme “IP and the SDGs: Building Our Common Future with Innovation and Creativity’’ in Abuja.

The that the Day is observed every April 26 to celebrate the importance of intellectual property (IP) rights to encourage innovation and creativity.

The director-general was represented by  Mr Emeka Ogbonna, director of Legal.

NCC boss said the policy would serve as a blueprint for a more efficient modern and responsive legal and administrative framework for the country to leverage on its creative and innovative potential.

He said that the day underscored the power of innovation and creativity in achieving the Sustainable Development Goals (SDGs) and shaping a sustainable and inclusive future for humanity.

According to him, the SDGs represent a universal call to action to end poverty, protect the planet, and ensure prosperity for all by the year 2030.

“IP rights play a pivotal role in fostering innovation, creativity, and technological advancements. They provide the framework that encourages men and women to develop new solutions that address global challenges.

“It is the lynchpin for incentivising the use of creative and innovative ideas to solve many of the challenges that confront humanity.

“This year’s World IP Day reminds us that intellectual property can be a powerful tool for social, economic, and environmental development.

“It encourages individuals, businesses, and governments to leverage IP rights to drive innovation, create jobs, and build resilient communities.

“By aligning our intellectual property policies and strategies with the objectives of the SDGs, we can accelerate their achievement,’’ NCC boss said.

He said in the spirit of the “Renewed Hope Agenda’’ of the present administration, government had also shown appreciable commitment to the creative industry as a major sector of the economy.

“As one of the agencies responsible for the wholesome development of the creative sector, the Nigerian Copyright Commission will continue to provide the needed institutional, legal and administrative support for the protection, promotion, regulation and enforcement of copyright.

“The commission will pay particular attention to using the copyright system to advance Goal 1 (No poverty); Goal 4 (Quality education); Goal 5 (Gender equality).

“And Goal 8 (Decent and economic growth); Goal 9 (Industry, innovation and infrastructure) and Goal 17 (Partnerships to achieve the goals).

“We are aware that the goals would have to be adapted to fit the peculiar needs of intellectual property which is an intangible asset.’ ’he added.

The director-general, who said that the commission focused on the 17 SDGs to address emerging challenges, called on authors, innovators, users, IP experts and other stakeholders to reflect on the vulnerability of the nation’s fragile knowledge and creative ecosystem.


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NITDA, ICF Train 100 Schoolgirls in ICT Skills

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The National Information Technology Development Agency (NITDA) and Illmi Children’s Fund (ICF) have trained 100 schoolgirls in digital and Information and Communication Technology skills training.

Mrs. Maryam Augie-Abdulmumin, ICF Executive Director, confirmed this in a statement on Thursday in Lagos.

The graduation followed the training of the schoolgirls in ICF and NITDA’s DIGITGALS 2.0 programme, a collaborative initiative aimed to equip adolescent girls in Abuja with critical digital and ICT skills.

Augie-Abdukmumin said the DIGITGALS 2.0 centred around essential digital literacy, programming fundamentals, digital marketing and communication skills, and cybersecurity awareness.

She added that the girls were equipped with the confidence to compete and excel in a globalised digital economy. The graduation was in commemoration of the 2024 International Girls in ICT Day celebration on April 25.

DIGITGALS 2.0 is in its second phase and empowered 100 senior secondary school girls selected from five government schools in the Federal Capital Territory.

The girls aged between 15 and 18 years were equipped with the knowledge and tools needed to thrive in the digital world and address the growing demand for ICT skills in the 21st century.

Augie-Abdulmumin reiterated the importance of bridging the digital gap in the country starting with the girl-child.

“This graduation ceremony on International Day of Girls in ICT is a powerful symbol of our commitment to closing the digital gender gap.

This programme made possible through our partnership with NITDA, and signifies a crucial step towards bridging the digital gender gap.

It also fostering a future where women are active leaders in the tech industry. This is also an opportunity for these girls to take charge of their own future,”.

Mr Kashifu  Abdullahi, the Director-General of NITDA, commended the collaborative efforts of ICF in making the DIGITGALS 2.0 a reality.

According to him, building a diverse and inclusive digital workforce is critical for Nigeria’s success.

“We are proud to collaborate with ICF on DIGITGALS 2.0 to empower these young women to become active participants in the tech industry. This programme showcases the importance of collaborative efforts in bridging the digital gender gap.

These girls have been equipped with essential digital skills, and ICF and NITDA are confident they will become active contributors to Nigeria’s thriving tech landscape,”.

ICF is a non-profit organisation dedicated to improving the lives of children, from underprivileged backgrounds, through education, healthcare, technology and entrepreneurship initiatives.

NITDA is a public service institution established in 2007. It functions as the ICT policy implementing arm of Nigeria’s Federal Ministry of Communication and Digital Economy.


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Confronting the Google Monolith: Survival Strategies for Online Businesses

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By Reuben Kalu.

In the vast expanse of the digital realm, Google looms large, an omnipresent force shaping the way we navigate, search, and conduct business online.

From its humble beginnings as a search engine to its current status as a multifaceted tech behemoth, Google has entrenched itself deeply into the fabric of the internet.

Its influence is undeniable, its reach unparalleled, and its ubiquity seemingly inescapable. But can you truly run an online business without Google?

The answer, in today’s digital landscape, is a resounding no. You have no choice.

Google’s dominance extends across multiple facets of the online world, making it virtually impossible for businesses to thrive without engaging with its ecosystem.

From search engine optimization (SEO) to online advertising, email services to analytics, Google’s suite of products and services permeates every aspect of the online business landscape.

Attempting to operate without Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

At the heart of Google’s influence lies its search engine, the gateway through which billions of internet users navigate the vast expanse of online content. .

Google’s search algorithms wield immense power, determining which websites rank prominently in search results and which languish in obscurity.

For businesses seeking to attract organic traffic and expand their online presence, optimizing for Google’s search algorithms is not merely advisable—it’s imperative.

But Google’s influence extends far beyond search. Consider Google Ads, the company’s advertising platform that enables businesses to reach targeted audiences through paid search, display, and video advertising.

With billions of searches conducted on Google each day, Google Ads provides unparalleled reach and visibility, allowing businesses to target potential customers with pinpoint accuracy.

Attempting to compete in the online advertising arena without leveraging Google Ads is akin to entering a battle unarmed—a futile endeavor destined for failure.

 

Moreover, Google’s suite of productivity tools, including Gmail, Google Drive, and Google Workspace, has become indispensable for businesses seeking to streamline their operations and enhance collaboration.

With seamless integration across devices and platforms, Google’s productivity tools offer unparalleled convenience and efficiency, empowering businesses to work smarter, not harder.

Attempting to eschew Google’s productivity suite in favor of alternative solutions is not only impractical but also unwise, depriving businesses of the tools they need to succeed in today’s fast-paced digital landscape.

Furthermore, Google Analytics stands as the gold standard for web analytics, providing businesses with invaluable insights into their online performance and audience behavior.

From tracking website traffic and user engagement to analyzing conversion metrics and customer demographics, Google Analytics offers a comprehensive toolkit for optimizing online marketing strategies and driving business growth.

Attempting to gauge online performance without leveraging Google Analytics is akin to flying blind, devoid of the critical data needed to make informed decisions and drive meaningful results.

But perhaps the most formidable aspect of Google’s influence lies in its role as a gatekeeper of information and access.

With billions of users relying on Google’s platforms and services each day, the company wields immense control over the flow of online traffic and the dissemination of information.

For businesses seeking to connect with customers and expand their reach, Google’s dominance presents both a tremendous opportunity and a formidable challenge.

Attempting to circumvent Google’s influence and establish an online presence independent of its ecosystem is a Herculean task, fraught with uncertainty and risk.

In essence, attempting to run an online business without engaging with Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

While alternative platforms and solutions exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage. You have no choice.

In conclusion, Google’s pervasive influence permeates every aspect of the online business landscape, making it virtually impossible to escape its grasp.

From search engine optimization to online advertising, productivity tools to web analytics, Google’s ecosystem encompasses a vast array of products and services that have become indispensable for businesses seeking to succeed in the digital age.

While alternative solutions may exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage.

You have no choice.


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