Chams Holdco set to facilitate remittance of N150bn in pension

Read Time:2 Minute, 30 Second
Chams Holdco set to facilitate remittance of N150bn in pension
To align with the regulatory drive to deepen micro pension in the country, Chams Holdco Plc, has intensified its move to facilitate the remittance of over N150 billion in pension this year.
The intensified drive is coming on the backdrop of its groundbreaking BVN project, which has enabled it to enrol nearly 60 million Nigerians to date.
Commenting on this development,  Mrs Mayowa Olaniyan, Group Managing Director, Chams Holdco, said: “ PenCentral Triumphs and Capacity Expansion signals a promising future. On the 14th of February 2024, make it a decade since Chams Holdco executed the groundbreaking BVN project. 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.”
She further noted that  a decade after this feat, the 38-year-old company – the first technology company to be listed on the Nigerian Exchange Limited, NGX- is continually reinventing itself.  She said
” Chams HoldCo share was the second-best performing share on the NGX in 2023.
The quest of the company to maintain its leadership position and compete with new breeds on the block has seen it launch a variety of solutions that are effectively capturing market share. One of its exciting products is the PenCentral solution, a platform that resolves long-standing reconciliation challenges related to Pension remittances. After launching the platform in a very short while, it has processed over N14 billion in Pension remittances, positioning itself as a game-changer in the Pension industry. With recent re-engineering efforts, the platform is poised to facilitate the remittance of over N150 billion in Pension this year and aligning with the regulatory drive to deepen micro-pension in Nigeria.” She further explained,
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.
“This expansion not only reflects the company’s dedication to meeting the growing demands of the financial services sector but also positions Chams as a key player in shaping the future of card processing in Nigeria.”
Meanwhile,in a move signaling increased local production capabilities, Chams Holdco has ventured into the Telco industry by manufacturing SIM cards locally.  Olaniyan said: “ This strategic initiative not only contributes to the growth of the telecommunications sector but also reinforces Chams Holdco’s commitment to fostering self-sufficiency and technological independence within the Nigerian business landscape.
“ As Chams Holdco continues to innovate and overcome challenges, its remarkable reinvention journey over the past decade serves as a testament to its pivotal role in shaping the evolution of technology and financial services in Nigeria.”
On the future outlook, she noted that  the company looks ahead with determination, anticipating a future marked by sustained growth, technological advancements, and a continued commitment to driving positive change in the nation’s financial landscape.”

0 0

Leave a Reply

Your email address will not be published. Required fields are marked *