CWG Group CEO speaks on growth plans

CWG Group, a leading technology company, has reported an impressive 428.4 per cent year-on-year increase in profit after tax, reaching 3.04 billion naira in 2024. The company also saw a significant rise in revenue, hitting 46.3 billion naira during the same period. Adewale Adyeipo, the Group CEO of CWG, joined CNBC Africa to discuss the drivers behind this exceptional performance and the company's near-term growth strategies. Adyeipo attributed CWG's remarkable growth to a strategic evolution over the years. He highlighted the organization's transition from a hardware infrastructure powerhouse to a software development company, and now to building proprietary platforms and intellectual properties. This shift, driven by technological advancements, changing consumer behavior, and strategic focus, has positioned CWG as a key player in the technology solutions space in sub-Saharan Africa. One of the key drivers of CWG's success has been its ability to create bespoke solutions tailored to address specific challenges in the region. Adyeipo emphasized the importance of deep understanding and the development of unique solutions to cater to the unique demands of Nigeria and sub-Saharan Africa. By honing platforms and intellectual properties, CWG has been able to bridge gaps and drive prosperity in the region. Furthermore, Adyeipo discussed CWG's focus on expanding digital infrastructure, particularly through its cloud initiative and FinTech subsidiary. The company's cloud initiative is set to play a significant role in the next few years, with a particular emphasis on enhancing digital capabilities and supporting the rollout of 5G services. Adyeipo highlighted strategic partnerships within the telecommunications sector to bolster CWG's presence in the 5G ecosystem. Looking ahead, Adyeipo outlined CWG's growth projections for the coming years, building upon the success of a five-year strategy. The company plans to further expand its operations in East Africa, while also investing in its fintech subsidiary, Fifth Lab. Adyeipo expressed confidence in the company's trajectory, citing significant milestones achieved in banking modernization and payment platforms. In conclusion, CWG's strong financial performance in 2024 and strategic plans for future growth underscore its position as a key player in the technology sector in sub-Saharan Africa. With a focus on innovation, tailored solutions, and strategic partnerships, CWG is poised for continued success in the coming years.