Nigeria, Aug. 26 -- The enterprise created by a deal between Chams Holding and China's Beijing Huahong IC Design to set up a SIM card-manufacturing facility for telecom firms in 2021 hit N4.9 billion in revenue last year, the financial holding company disclosed on Monday.

"The first purchase order from MTN in December 2021 marked a significant milestone, and delivery commenced in August-September 2022," Chams Holding said in a note to Nigerian Exchange.

The company operates four subsidiaries across identity management solutions, e-payment processing & switching, fintech & digital payment and card production.

Turnover for the SIM card-manufacturing business, which sits within its card-making unit called Cardcentre Nigeria Limited, stood...