Revenue Generation: Chams, eTranzact, CWG Earn ₦59 Billion over a Six-Month Period
In the first half of 2025, three leading Nigerian tech companies – Chams, eTranzact, and CWG – generated a combined revenue of ₦59.93 billion ($39.11 million), marking a 29.17% increase from the same period in 2024. This growth is a testament to the resilience and growth within Nigeria’s digital payments and fintech space.
Chams Plc
Chams Plc reported a revenue of approximately ₦9.88 billion in the first half of 2025, with approximately 70% of its revenue coming from payment collection services and identity card sales. The company is also expanding into SIM card management, indicating growth in telecom-related services. However, Chams' gross profit decreased by 26.63% to ₦1.96 billion in H1 2025, and its profit after tax fell 53.52% to ₦418.96 million in the same period. Chams' main income streams are payment collection and the sales of identity cards.
eTranzact
eTranzact, on the other hand, is part of the broader trend where firms like CWG and Chams have seen their combined after-tax profits nearly triple in Q1 2025. In H1 2025, eTranzact's revenue declined 5.43% to ₦13.28 billion, but its profit after tax grew 18.32% to ₦1.51 billion. Airtime sales remain the backbone for eTranzact, making up 56.29% of its total revenue in 2024. However, the company is focusing on expanding its revenue base beyond airtime sales, with the future revenue earner being the direct-to-consumer platform. eTranzact has also started betting on AI to create practical solutions for SMEs.
CWG Plc
CWG Plc posted a 113% surge in profit after tax in H1 2025 to ₦3.56 billion, driven by a 65% revenue increase fueled by rising digital demand and stringent cost discipline. Its revenue stems from enterprise IT solutions, cloud services, and strategic collaborations within an expanding ecosystem. CWG’s customer-centric approach and efficiency have helped it hold a leadership position despite competition from global tech players. Software, IT infrastructure, and managed support services made up 97.98% of CWG's revenue in 2025, and its gross profit surged 73.20% to ₦8.33 billion.
In maintaining investor interest, these companies focus on leveraging Nigeria’s growing digital transformation and demand for secure payments, identity, and cloud services, pursuing cost efficiency and innovation, expanding service offerings, and demonstrating strong financial performance with significant profit growth, which bolsters investor confidence.
The overall Nigerian tech sector's momentum, where combined profits of listed tech firms are growing, helps attract both domestic and some foreign investors, although the Nigerian Exchange faces challenges like diminished foreign investment and calls for reforms to boost liquidity and innovation.
Thus, Chams, eTranzact, and CWG carve out revenue streams from digital payment infrastructures, identity management, and enterprise cloud solutions, while maintaining investor confidence through profitable growth, strategic partnerships, and continuous innovation aligned with Nigeria’s digital economy expansion.
- Chams Plc's expansion into SIM card management signifies an expansion into telecom-related services, demonstrating innovation in the mobile technology space.
- eTranzact is focusing on expanding its revenue base beyond airtime sales, with the future revenue earner being the direct-to-consumer platform, indicating a shift in fintech business strategy.
- CWG Plc's revenue growth is fueled by rising digital demand and stringent cost discipline, showcasing the company's commitment to finance efficiency and technology innovation in the enterprise IT solutions sector.
