CWG Assures Shareholders of Profitability, Expansion

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Adewale Adeyipo

By Emma Okonji

Six years after it got listed on the Nigerian Stock Exchange (NSE), CWG Plc, a systems integrator and technology solutions provider, has assured its shareholders of profitability and expansion in 2019 and beyond.

The Acting Group Managing Director and Chief Executive Officer of CWG Plc, Mr. Adewale Adeyipo, gave the assurance in Lagos during a recent media chat.
Adeyipo, who gave an overview of the company’s financial focus for 2019, was optimistic that the business plan would be profitable enough to pay dividend to its shareholders who entrusted their money with the company, since 2013 when it listed on the NSE.

Although he noted the slowdown in economic growth in the country, he however said the reappointment of the Central Bank Governor, Mr. Godwin Emefiele was expected to bring economic stability that would help businesses grow.

Highlighting the company’s key opportunities for business growth and expansion, Adeyipo said: “If we concentrate on the existing platforms and opportunities we have for another 12 months, we will definitely be busy.

“We are getting into new territories and deploying solutions for organisations that will not before now embrace Information Technology (IT).
“The emergence of the tier three and four financial institutions created a lot of opportunities. We see the drive from most organisations to use technology to drive business process optimisation, promote better operational efficiency and to create platforms for new revenue streams. All these have created a lot of opportunities for IT companies like CWG.”

According to him, being a public company since 2013, “created more discipline and transparency on our business. Our listing was timely and it helped us reposition the organisation.”

“As a systems integration company, we provide support and customisation services to financial institutions in Nigeria, both small and big.
“Today we control a large percentage of the Automated Teller Machine (ATM) installed base in Nigeria and we currently support the ATMs as well, thus allowing the financial institutions to concentrate on their core banking applications. “We currently deploy ATM services to 13 banks and three out of the banks have signed up with us for the ATM management as a service and we plan to roll out over one thousand ATMs in the next 24 months.

“Our focus as a business is to become the hub of ATM managed services in Nigeria in the next five years. We plan having the Independent ATM Deployer licence in the next 36 months. The ATM management is one of our successful projects that will further help us to be more profitable as a business that has shareholders to take care of,” Adeyipo said.

He further explained that the company needed the right set of people within the organisation to drive its vision that would enable it achieve its goals and aspirations for 2019.

“We plan to scale up our competency framework on services to enable us deliver more services to customers. Looking at our variables in 2019, it shows we have a very good projection and we are well positioned to achieve the goals,” Adeyipo said.

Providing an insight into the company’s future plan, he said: “Our plan going forward is to begin to think of how to create solutions, rather than becoming consumers of products and solutions from others. “Our peculiarities as a nation are unique and our new focus is to provide solutions that will solve our peculiar challenges as a nation, and we currently provide our own 4G WiFi enabled smart metering solution for the power sector.”