The Chief Executive Officer of CWG Plc, Nigeria’s largest system integration company, Mr. Adewale Adeyipo, has given reasons the company initiated five strategic pillars when he took up the role about two years ago.
Adeyipo revealed that the five operating strategic pillars, which include Growth, Profits, Liquidity, Brand and Dividend, have become an essential guide on what CWG will be doing and how it would be done.
“We evaluate every decision and predetermine the contribution to all or any of these pillars. The pillars have created focus and clarity. They have helped us to know what business to take seriously and what we should cease doing. Not every opportunity is considered to be a ‘Must Have”. “It mostly depends on its contribution to the pillars,” he declared.
According to Mr. Adewale, the implementation and strict adherence to these pillars have contributed to the growth of CWG Place in the last one year, leading to the re-introduction of some valuable IT services and an increase in customized services businesses.
For instance, the five pillars helped the CWG to record a transaction volume of over N12 billion on its BillsnPay presentment platform. This record is a major chunk of over 3000 percent of what the company had in 2018, 2017 and 2016 combined.
“I can tell you that the underlining principles that have kept us focused are these five pillars,” he stressed.
According to the Audited Financial Statements, the Company declared a Profit after tax of N73million and Net Asset growth of 67.4%, from N115million to N192m. Other key highlights are the revenue growth of 23.4 percent, from N7.8billion in the previous quarter to N9.6bn. Profit before tax stood at N634million.
This audit report was presented to the shareholders at the company’s Annual General Meeting held at CWG’s headquarters on June 25th, 2020.