Chams PLC , the Information and Communication Technology firm, has been assigned a ”Bbb”rating  by Agusto & Co, the world acclaimed research and credit rating company. Agusto says the triple B rating reflects strong attributes of Chams PLC including adequate working capital, low leverage and stable management. The rating also takes into account Chams’ declining but satisfactory profitability and weak operating cash flows resulting from high trade debts because of delays in payments on public sector contracts, which however suggest a stable outlook for Chams.

Incorporated on September 10, 1985 as Chams Nigeria Limited and operating in the Information and Communications Technology (ICT) industry, Chams converted to a public limited company in 2007.  The Nigerian Stock Exchange listed its shares on its main board on September 2, 2008, creating a new division to accommodate the new entrant.The Company successfully raised N7.8billion capital in 2008 to fund its expansion plans. With the fresh injection of capital, Chams has floated two new subsidiaries, invested in new infrastructure and equipment across its business units and subsidiaries.  Moving ahead, the company plans to set up 30 digital malls with a combined capacity of 30,000 units of networked Apple PCs in its world acclaimed Chamscity Digital malls. Two ChamsCity Digital Malls are already functional in Lagos and Abuja.

Operations at Chams have evolved over the years from computer maintenance and networking services to the supply and provision of card based technology products and services. Chams’ business is structured into five business units comprising Public Sector and Projects; Terminals & Printers; Chams.net and ChamsCity plus the Data Centre. The Company has six subsidiaries namely; Supercard Nigeria Limited, CardCentre Nigeria Limited, ChamsAccess Limited, Chams Mobile Limited, and ChamsSwitch Limited. PayMaster Nigeria Limited is also affiliated to Chams Plc.