One of Nigeria’s oldest indigenous technology firms, Chams Holdings Plc, has launched a new subsidiary as it positions itself to tap into the fast-growing artificial intelligence (AI) and data centre infrastructure market.
In a regulatory filing released on Monday, the company announced the creation of ChamsCorp Plc, a unit that will focus on digital device manufacturing, data centre design and operations, AI infrastructure, intelligent systems, and other technology-driven verticals.
The move marks a strategic shift for Chams, signalling its ambition to evolve from a legacy payments and identity infrastructure provider into a player in the foundational layers of Nigeria’s emerging digital economy.
By venturing into AI infrastructure and data centre development, the company is seeking to move up the value chain—away from transaction processing toward owning and enabling the compute, storage, and intelligence systems expected to underpin future digital services, enterprise platforms, and national digital infrastructure.
Nigeria’s data centre market is projected to grow rapidly, with Mordor Intelligence estimating it could reach $782.82 million by 2031, underscoring the scale of opportunity Chams is targeting.
ChamsCorp will be led by Olufemi Oyenuga, an information management and data analytics specialist with experience across healthcare, telecoms, ICT, and manufacturing. His appointment took effect on February 1, 2026.
Despite the announcement, Chams provided limited details on the subsidiary’s operational roadmap or investment size. The company said it is still “embarking internally on the strategic positioning of ChamsCorp Plc” and will make further disclosures in line with Nigerian Exchange disclosure requirements as material developments occur.
The cost of the new venture was not disclosed. However, in August 2025, Chams revealed plans to raise ₦7.65 billion ($5.52 million) to fund strategic projects aligned with its ambition to lead Africa’s digital payments and identity management markets—capital that could support its broader transformation strategy.
With the addition of ChamsCorp, Chams Holdings now operates five subsidiaries: Card Centre Nigeria Limited, Chams Access Limited, Cham Switch Limited, Chams Mobile Limited, and ChamsCorp Plc.
Industry watchers see the move as a sign that Chams is looking beyond its traditional strongholds, positioning itself in sectors—AI infrastructure and data centres—that are becoming central to the future of Nigeria’s digital economy.
