Shares of Chams Holdco Plc, Computer Warehouse Group (CWG) Plc, and eTranzact International Plc rallied in 2025 after the three Nigerian-listed technology firms reported a combined N9.18 billion in profit after tax, underscoring renewed investor confidence in the country’s fast-expanding digital infrastructure and payments ecosystem.
The earnings mark a decisive break from the pressures of five years ago, when currency volatility, weak corporate spending and structural inefficiencies weighed on performance.
Today, rising digital transactions, card production demand, enterprise IT upgrades and expanding broadband access have reshaped the operating environment for the ICT sector.
CWG leads earnings charge
Computer Warehouse Group Plc (CWG) delivered the strongest absolute numbers, posting N5.61 billion in profit after tax for 2025, a sharp jump from the prior year. Revenue climbed 42 percent to N65.66 billion, while profit before tax rose to N8.01 billion.
The performance reflects robust demand for IT infrastructure deployment, enterprise software integration and managed services as banks, telecom operators and public institutions deepen digital transformation efforts. CWG’s scale and regional footprint positioned it to capture large contracts amid rising corporate technology spending.
Market analysts say the results signal operational efficiency gains and improved margin discipline, factors that have contributed to renewed interest in the stock.
Read more: Chams proves Nigeria’s digital economy still runs on SIM cards, bank plastic
Chams gains from card manufacturing surge
Chams Holdco Plc recorded an unaudited N606 million profit after tax in 2025, supported by an 18 percent rise in revenue to N17.50 billion.
A standout driver was a 573 percent surge in data card products, including SIM cards for telecom operators and bank cards for financial institutions, which rose to N5.90 billion. The spike aligns with increased SIM issuance, banking card renewals and broader financial inclusion initiatives.
The company’s focus on identity management, biometrics and transactional solutions has allowed it to tap into both telecom-linked manufacturing and public-sector digitisation opportunities.
eTranzact sustains profitability
eTranzact International Plc posted N2.97 billion in profit after tax, down modestly from 2024 due to higher administrative expenses, even as revenue edged up to N29.82 billion. Profit before tax stood at N4.2 billion.
The payments switching and transaction processing firm continues to benefit from rising transaction throughput in Nigeria’s instant payments ecosystem. Digital transfers, merchant payments and electronic settlement services remain on an upward trajectory, reinforcing the company’s role within the country’s financial rails.
Read more: CWG, eTranzact, Chams: Which ICT firm was most profitable in 9M 2025
Structural tailwinds
Combined, the trio’s N9.18 billion earnings highlight the structural tailwinds supporting Nigeria’s ICT landscape in 2025: Trillions of naira in digital payment volumes, expanding broadband penetration enabling faster transaction processing; growth in telecom-driven card manufacturing and increased enterprise and public-sector IT spending.
The sector has transitioned from recovery mode to consolidation and expansion, with listed technology firms demonstrating improved balance sheets and stronger governance frameworks.
Investor sentiment turns positive
The positive earnings cycle has been reflected in stock market performance, with investors responding to sustained profitability and clearer growth trajectories. The rally signals a broader reassessment of ICT equities as core beneficiaries of Nigeria’s non-oil growth strategy.
With broadband rollout advancing and financial services deepening digital channels, Chams, CWG and eTranzact appear positioned to sustain momentum beyond 2025.
Their latest results suggest that Nigeria’s digital transformation is no longer theoretical, it is translating into tangible earnings growth and renewed market confidence.
