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Chams Carves Out Subsidiary to Support Africa’s Digital Transformation

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Chams Holding Company Plc, (Chams Holdco), digital payments and verification firm, has created a new subsidiary which is expected to strengthen the push for Africa’s digital transformation.

Chams Carves Out Subsidiary to Support Africa’s Digital Transformation

The creation of the new subsidiary, ChamsCorp Plc, which took effect from February 1, was made known in a filing to the Nigerian Exchange Limited , according to an announcement.

Chams said that the new subsidiary, which is its 5th, will give a new dimension to its more than 40 years of work in building the digital ecosystem not only in Nigeria, but across the continent and the rest of the world.

The newly created company will focus on three major aspects, namely the manufacturing of digital devices and development of digital infrastructure and services; data center design, construction and operations, and the development and implementation of AI infrastructure and intelligent systems.

It will also contribute to its parent company’s digital ID, digital verification, and trust services offering.

“For nearly four decades, we’ve enabled trust in transactions and identity. Now, we go furthe”

Chams is expanding into AI, data centre infrastructure, and intelligent systems, building the backbone for Africa’s digital transformation,” the company wrote in a LinkedIn post.

“We are not just participating in the future. We are engineering it,” the message added.

According to the Chams announcement, a decision of its Board of Directors appointed members of the pioneer board of ChamsCorp Plc, with renowned banker Mohammed Bashir Yunusa designated as Chairman.

He is described as a well-known finance expert who specializes in deal structuring, corporate and retail finance, business strategy, digital transformation, and Islamic Finance and Banking.

With more than 10 years of experience in the financial services industry, Yunusa currently serves as head of Consumer and Digital Banking for Non-Interest Banking Retail at Sterling Bank Nigeria, and will also serve as a non-executive director on the board.

“Chamscorp is designed to take our most ambitious ideas to market at speed and scale. As Africa’s digital economy evolves, we are focused on delivering transformative solutions that empower governments, businesses, and citizens alike,” Femi Oyenuga, CEO, Chams, commented on the development.

Chams has over the years played a major role in contributing to Nigeria’s digital ID ecosystem development to facilitate access to financial services.

In 2023, the company Group Chairman publicly stated that in providing such digital services to the Nigerian government, it had incurred debts estimated at $100 million and were planning to change their business model as a result.


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Ebere Melum-Nwogbo is a trained and practicing journalist. She is passionate about ICT and business journalism. She has over a decade experience spanning money and capital market as well as information technology

E-Business

Report Shows Start-ups Fuel Innovations in Africa

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Bloomberg has released its second annual “25 African Startups to Watch” list, underscoring the growing influence of venture-backed innovation across the continent.

Published thursday, the list highlights companies building solutions in “environments where infrastructure or systems have failed to deliver.”

The featured start-ups build solutions to challenges such as accessing healthcare in Chad, moving goods in Kenya, securing loans in South Africa, and safeguarding borders in Nigeria.

Nigeria, South Africa and Kenya jointly lead with four companies each, reflecting the ongoing strength of Africa’s three most visible start-up ecosystems.

The 25 companies span 13 countries and sectors including healthcare, fintech, security, climate resilience, waste management, and transport.

Nigeria’s four startups are 10mg Health, Remedial Health, Sycamore and Terra Industries, covering areas from healthcare financing and pharmaceutical supply chain integrity to digital lending and defence technology.

South Africa’s contingent includes Omnisient, Amesect, AURA and Jem. Omnisient uses grocery purchase data and AI to extend credit to those outside traditional financial systems.

Kenya’s notable four include Zeraki, a school-data analytics platform partnering with Safaricom to reach secondary students across the country.

According to Bloomberg, a defining theme this year is the source of funding.

Nearly half of the total capital raised by these start-ups came from African investors, marking a shift from previous years when international capital predominantly drove early growth.

International backers such as 8VC, controlled by Palantir Technologies co-founder Joe Lonsdale, and Google continue to see value in investing in African companies, Bloomberg noted.

The report also highlights that start-ups across the continent almost doubled their debt fundraising in 2025, even as equity financing from venture capital firms declined.

Separately, the Start-up Ecosystem Report 2026 states that Kenya has overtaken Nigeria as Africa’s top startup investment destination, attracting $984 million in 2025.

Jennifer Zabasajja, Bloomberg Television’s chief Africa correspondent and anchor, highlighted the dual significance of the list, the variety of solutions being built and the growing role of African-sourced capital in backing them.

She noted that the list comes at a consequential moment, one shaped by global disruptions, from the conflict in Iran to sweeping cuts in US foreign healthcare assistance, that have made the case for African-owned capital more urgent than ever before.


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NDPC Raises Alarm: Fake News, Data Abuse Could Destroy Nigeria’s 2027 Elections

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Nigeria Data Protection Commission has warned that the growing misuse of personal data and digital platforms could undermine Nigeria’s democratic process ahead of the 2027 general elections.

NDPC Raises Alarm: Fake News, Data Abuse Could Destroy Nigeria’s 2027 Elections

NDPC

The warning was delivered during the 2026 Press Week organised by the FCT Council of the Nigeria Union of Journalists in Abuja.

Speaking at the event, Vincent Olatunji, national commissioner and chief executive officer,  NDPC, who was represented by Itunu Dosekun, head of Media Unit at the commission, said disinformation and unlawful exploitation of personal data posed serious threats to credible elections.

The event had the theme: “2027 Election: Defending Democracy in the Era of Disinformation.”

Dosekun said the struggle for credible elections was no longer confined to polling units, noting that digital platforms had become major channels for manipulated narratives, fake news, propaganda and AI-generated misinformation.

According to him, the rapid growth of social media platforms, messaging applications and data-driven political campaigns has created vulnerabilities capable of influencing voter perception and weakening public trust in democratic institutions.

He warned that the abuse of personal data for political profiling and psychological targeting had become one of the most dangerous threats facing democracies worldwide.

“The misuse of citizens’ personal information carries serious social implications, especially for vulnerable groups who may not fully understand how their data is harvested, processed and weaponised online,” he said.

Dosekun noted that coordinated disinformation campaigns could inflame ethnic tensions, spread fear and discourage civic participation, particularly among young Nigerians.

He described the Nigeria Data Protection Act, 2023, as a critical legal framework aimed at protecting citizens against unlawful data processing and digital exploitation.

According to him, the law gives Nigerians greater control over their personal information while placing obligations on organisations, institutions and political actors to handle data responsibly.

Dosekun also called for stronger collaboration among political parties, media organisations, technology firms, civil society groups and citizens to promote responsible digital behaviour ahead of the elections.

He stressed the role of journalists and media professionals in combating fake news, fact-checking information and safeguarding public discourse.

According to him, protecting personal data should not only be seen as a privacy issue but also as a democratic responsibility necessary for maintaining public confidence, national stability and electoral credibility.

Stakeholders at the event emphasised the need for improved digital literacy, stronger regulation and increased public awareness to prevent the abuse of digital platforms during future elections.


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Anthropic Raises $65 Bn to Expand AI Research, Innovation

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Anthropic, artificial Intelligence company, has said that  it has secured sixty-five billion dollars in a new funding round, raising the company’s valuation to about nine hundred and sixty-five billion dollars.

Anthropic Raises $ 65 Bn to Expand AI Research, Innovation

The development places the company ahead of its rival, OpenAI, maker of ChatGPT, which was valued at about eight hundred and fifty-two billion dollars earlier this year.

Anthropic, founded by former OpenAI employees and led by Dario Amodei, chief executive officer, has emerged as one of the leading firms in the global Artificial Intelligence industry.

The company is widely recognised for its advanced coding capabilities and generative AI models, particularly its AI assistant known as Claude.

Unlike some competitors focusing mainly on general consumers, Anthropic has concentrated on delivering AI solutions to enterprise and business clients.

The company also says it places strong emphasis on AI safety while expanding its products and services amid growing competition in the sector.

Krishna Rao, chief financial officer of Anthropic, said the new funding would support the company’s research efforts and help meet rising global demand for its AI technologies.

Reports indicate that the investment round attracted major Silicon Valley venture capital firms, including Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital.


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