"CWG Contemplates Increasing Geographical Reach Following a Spike in Profits and Platform Expansion"
Nigerian IT services and infrastructure company, CWG Plc, has reported impressive financial results for the first quarter of 2025, marking a significant milestone in its growth journey. The company's revenue surged by 83% to ₦15.3 billion ($9.5 million), with IT infrastructure services contributing the most, totaling ₦6.2 billion ($3.7 million).
In a strategic move, CWG Plc is eyeing expansion into additional East African countries and the Middle East. While specific country entry strategies have not been officially announced, the company has already established a strong presence in Nigeria, Ghana, Uganda, and Cameroon.
The company's success in these regions is evident. In Uganda, CWG's revenue more than doubled to ₦7.34 billion ($4.6 million) in 2024. Similarly, CWG Ghana's revenue climbed to ₦8.4 billion ($5.0 million) in 2024, up from ₦4.13 billion ($2.6 million) in 2023. Cameroon reported its first recorded revenue for CWG in 2024, totaling ₦11.9 million ($7,407).
CWG's focus on banking, cooperatives, and Small and Medium-sized Enterprises (SMEs) has also been instrumental in its growth. The company assisted MTN Nigeria in deploying digital self-service kiosks in Lagos and Abuja in 2024. Moreover, CWG extended Finacle's reach by adding three new sites with Infosys in 2024.
Fifthlab, CWG's software subsidiary, recorded a staggering 558% surge in revenue in 2024. This growth is mirrored in the company's overall performance, as CWG Plc reported its first billion-naira profit in over a decade in 2024, with profits increasing by 428% to ₦3.04 billion ($1.89 million).
The success of CWG in 2025 hinges on rapid scaling, effective localization, and continuous innovation across its platforms. However, the company faces competition from global IT consultancies like Accenture and Microsoft in the market.
In the banking sector, CWG's Finedge division welcomed nearly 20 new financial institutions in 2024. The company's strategic partnerships and focus on digital services have positioned it well for future growth.
As CWG Plc continues to expand its footprint, it is repositioning itself as a pan-African tech enabler, aiming to build digital platforms that will drive economic growth and development across the continent. For the most accurate and up-to-date information on CWG Plc's expansion plans, it is advisable to consult the company's official documents or press releases.
The tech adoption by CWG Plc in the finance sector, through their partnerships and focus on digital services in banks, has contributed significantly to their growth. As CWG Plc continues to scale and innovate in technology, they aim to expand their business across East African countries and the Middle East, leveraging their existing success in regions such as Nigeria, Uganda, Ghana, and Cameroon.
