• Sunday, May 19, 2024
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Chams Holdco’s BVN project clocks one decade

Chams Holdco’s BVN project clocks one decade

February 14 made it a decade since Chams Holdings executed the Biometrics Verification Number (BVN) project, Mayowa Olaniyan, Group Managing Director has said.

“Since its implementation, the BVN biometric solution has become a cornerstone in the financial services industry, leaving an indelible mark on identity verification and security, having enrolled nearly 60 million Nigerians.

“A decade after this feat, the 38-year-old company – the first technology company to be listed on the NGX- is continually reinventing itself. Chams HoldCo share was the second-best performing share on the NGX in 2023,” she said.

Chams Holdings Company is poised to facilitate over N150 billion in Pension remittances in 2024. The 38-year-old technology company launched the PenCentral solution to solve challenges with Pension remittances and has processed over N14 billion in Pension remittances, she said.

“The quest of the company to maintain its leadership position and compete with new breeds on the block has seen it launch various solutions that effectively capture market share.

“With recent re-engineering efforts, the PenCentral platform is poised to facilitate the remittance of over N150 billion in Pension this year and align with the regulatory drive to deepen micro-pension in Nigeria,” she said.

The company also planned to increase its production capacity to meet the demands of the financial sector and position itself as a key player in shaping the future of card processing in Nigeria, she said.

“Its recent capacity expansion further underscores the company’s commitment to innovation. Chams Holdco now boasts the capability to process an impressive 60,000 financial cards per day, with plans to triple this capacity before the end of 2024, having inked recent deals with its global partners,” she stated.

She also said that “Chams Holdco ventured into the Telco industry by manufacturing SIM cards locally to contribute to the growth of the telecommunications sector and reinforce our commitment to fostering self-sufficiency and technological independence within the Nigerian business landscape”.

She remarked that Chams Holdco’s “remarkable reinvention journey over the past decade served as a testament to its pivotal role in shaping the evolution of technology and financial services in Nigeria”.