With new subsidiary, Chams joins Nigeria’s growing AI infrastructure race

Chams Holding Company Plc, a Nigerian-based Information and Communications Technology company, has created a new subsidiary, ChamsCorp Plc, as it positions itself for opportunities in artificial intelligence (AI) and data centre infrastructure, according to a regulatory filing on Monday.

The new company will operate in digital device manufacturing and infrastructure development, data centre design, implementation and operations, AI infrastructure, and intelligent systems, among other technology-driven verticals.

This move is a strategic pivot for one of Nigeria’s oldest indigenous technology companies, signalling Chams’ ambition to reposition itself from a legacy payments and identity infrastructure firm into a player in the foundational layers of the new digital economy. 

By entering AI infrastructure and data centre development, Chams is attempting to move up the value chain, from transaction processing to owning and enabling the compute, storage, and intelligence systems that will underpin future digital services, enterprise platforms, and national digital infrastructure.

Nigeria’s data centre market is expected to hit $782.82 million by 2031, according to Mordor Intelligence, a global market intelligence company.

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.

However, the company offered few details about the new venture’s operational strategy or investment scope. 

In its filing, Chams said it is still “embarking internally on the strategic positioning of ChamsCorp Plc and will make further disclosures as and when there are material developments, in accordance with applicable NGX disclosure requirements.”

The cost of the venture remains undisclosed. In August 2025, Chams announced plans to raise ₦7.65 billion ($5.52 million), stating that the funds would be deployed into strategic projects aligned with its ambition to lead Africa’s digital payments and identity management markets.

With the creation of ChamsCorp, Chams Holdings now operates five subsidiaries: Card Centre Nigeria Limited, Chams Access Limited, Cham Switch Limited, Chams Mobile Limited, and ChamsCorp Plc.

Chams’ new AI and data centre focus reflects a company looking beyond payments and identity infrastructure to sectors increasingly central to the future of the digital economy.