E-Business
CWG’s New Business Strategy Impacts its Half Year Financial Report

Computer Warehouse Group (CWG Plc), at the twilight of a five year strategic plan to take the company in a different direction into a more robust subscription business model, paused to evaluate the progress achieved, and the impact on her hitherto traditional business, underpinned by technology sales and support to major enterprises in Africa.
According to Austin Okere, group chief executive officer, “we crafted the plan code named CWG2.0 in 2010, realizing back then the pervasiveness of cloud computing, and the major enablement for this in our region following the increase in broadband access from 0.65tb to a combined capacity of 9Tbits per second. We were very clear that while our tremendous growth over the years had been propelled by our traditional businesses in hardware and software sales and support, and VSAT bandwidth vending, these represented mature and declining margin businesses, the import of which have been evident in our recent Financial Statements”.
The uptake of the company’s New Cloud products not only in Nigeria but also in Ghana, Cameroon and Uganda proves that her emerging business model of providing cloud services on a subscription basis is scalable, repeatable and transferable, albeit relatively more sustainable and profitable.
Following her listing on the Nigerian Stock Exchange in November last year, the company has vigorously pursued her CWG2.0 initiative with the commissioning of a tier 3 Data Centre and the release of many products, which have been solely locally developed, or in collaboration with other innovative Companies such as MTN Nigeria, Diamond bank and Ericsson among others.
According to James Agada, chief technology officer of the group, ‘CWG2.0 is all about the freedom to dream and the passion to execute. CWG2.0 defines the future direction of our company. In summary it is a social impact investment initiative directed towards empowering the African Entrepreneur.’
CWG2.0 comprises products such as SMERP, an online resource planning solution that enhances proper business inventory management by business owners; Openshoppen, an e-commerce site that provides multiple shop owners the opportunity to open virtual shops online, complemented by an integrated secured payment gateway, thereby allowing online buyers to pay for products and services with their cards.
CWG2.0 also includes a Payment Terminal Service Provider (PTSP) smart grid solution, and various cloud services which promote the Cashless policy initiative of the Central Bank of Nigeria.
The company’s SMERP product has received increasing interest, with different channel partnerships being developed for rapid deployment of the product. There is a lot of interest for this service from individual merchants, banks and other organizations that support SME business.
CWG is currently nurturing relationships with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Bank of Industry, as well as other Agencies charged with the support and growth of Small and Medium Enterprises in Nigeria to take advantage of her vast offering.
In addition, CWG has entered into strategic partnership with SES Astra, a Satellite Services provider to provide teleport and platform services for the pioneer satellite-based free to Air and free to View digital Television system that will launch commercially in Q4 2014.
According to Gbadebo Adesina, head of Power Business at CWG, ‘the audacious plan to privatize the power sector has unveiled a new revenue opportunity for us, as we have partnered with a company in India to provide a key solution to address the technical and non-technical loses in power distribution. Our solution which provides an effective medium for energy audit and revenue assurance is currently undergoing proof of concept with two of the largest DISCOs in Nigeria, and we expect that this new line of business will be at implementation stage by Q3 2015’.
‘With the full launch of this solution, CWG shall generate an additional source of revenue, not unlike the volumes witnessed during the telecoms boom earlier in the decade’ he continued.
According to Remi Adeloye, CWG financial controller, ‘CWG’s 2014 first half of the year revenue of N8.3b is 16% below 2013 N9.9b, while Gross Profit N1.6b is 23% below 2013 N2.1b. The lower H1 revenues is a reflection of the continued decline in margins on traditional IT infrastructure business due to commoditization and competitive pressures, as well as viable alternatives in the Cloud Computing Frontier’.
Continuing, Mr. Adeloye said ‘the financial position of the group remains strong with adequate liquidity, leverage and efficiency ratios. H1 2014 Current ratio improved to 1.5 as against H1 2013 which was 1.4 signifying strong liquidity and adequacy of working capital to meet transactional needs. Also CWG’s leverage Debt to Equity ratio remains low at 9% as against 10% in 2013.’
Emphasizing the imperative in the shift in strategy, the CWG Boss, Mr. Okere added ‘we consider the refocusing of our business into a subscription based model as a dual advantage play. In addition to being a more sustaining strategy, it maximizes our social impact investing on the economy of Africa, and helps to create jobs by empowering entrepreneurs in the countries of our operation. The dip in our H1 numbers while expected, will be more than compensated for when the full import of CWG2.0 comes fully on stream by H2 2015.’
With the rebasing of Nigeria’s Gross Domestic Product (GDP) to $509.0b (N80.3trillion), capturing the recent growth effects in sectors such as telecommunication and the movie industry (Nollywood), and with the fast growth of the ICT sector, contributing about 8.3% of current GDP, Mr. Okere’s optimism is not far-fetched.
E-Business
FG Unveils ePharmacy Platform to Regulate Digital Pharmaceutical Services

Federal government has inaugurated the Electronic Pharmacy Regulation Platform (E-Pharmacy) to enhance the safety of online healthcare services.

Pic credit….healthreporters.info
The platform, championed by the Pharmacy Council of Nigeria (PCN), is designed to regulate digital pharmaceutical services and improve public health outcomes.
Inaugurating the platform, Prof. Ali Pate, coordinating minister of Health and Social Welfare, said the initiative signified Nigeria’s commitment to building a world-class regulatory environment.
Pate noted that pharmacy regulation had faced significant challenges for over three decades but expressed optimism that the new platform would strengthen oversight and accountability.
He said the initiative would enable evidence-based monitoring of pharmaceutical practices while supporting innovation and investment in the health sector.
“This launch is a testament to our collective commitment to advancing technology in the service of health, safety and human dignity.
“It is a decisive step to ensure that pharmaceutical practice in Nigeria aligns with national and global health priorities, reflecting the realities of the 21st century.
“It enables the country to adopt evidence-based approaches to monitoring and protecting public health while supporting innovation and investment,” he said.
The minister added that the platform would help establish a safe, accessible and well-regulated national e-pharmacy ecosystem driven by digital technology.
Earlier, Alhaji Ibrahim Ahmed, registrar/chief executive officer of PCN, said the need to regulate online pharmacy operations became more urgent during the COVID-19 pandemic.
Ahmed said the pandemic accelerated the adoption of digital tools and e-commerce in healthcare, exposing longstanding inefficiencies in pharmaceutical supply chains, particularly in Africa and Nigeria.
“This has led to the increasing adoption of digitised distribution of essential medicines through cost-effective and technology-enabled models.
“For decades, PCN has regulated pharmacy education, training, practice and business in Nigeria. However, as the world shifts towards digital solutions, access to medicines has evolved.
“The Electronic Pharmacy Regulations 2026 provide a comprehensive legal and technical framework for the registration, licensing, operation and oversight of digital pharmaceutical services,” he said.
He added that the framework would ensure that ethical standards and patient safety are not compromised in the delivery of online pharmaceutical services.
E-Business
Flutterwave Targets Anambra as South-East Tech Hub

Olugbenga Agboola, CEO, Flutterwave, has announced plans to establish Anambra State as the company’s hub for Nigeria’s South East, leveraging a fresh banking license from the Central Bank of Nigeria (CBN) to boost local fintech and businesses.

Flutterwave
Agboola made the disclosure yesterday in Awka during a meeting with Anambra tech community leaders, hosted alongside Dr. Stanley Uzochukwu, CEO, Stanel Group and proprietor, Delborough Hotel.
He highlighted Flutterwave’s status as Africa’s leading payment system, born in Nigeria, with infrastructure powering companies nationwide.
“We want Anambra to be our hub for the entire South East,” Agboola said. “We’ll deploy our systems, fees, infrastructure, and POS terminals to every small business and large firm here, making our services the top consumer choice.”
Agboola pledged a massive impact program for Anambra entrepreneurs to foster global platforms from the state, enabled by the new license for faster growth.
For a decade, Flutterwave has facilitated payments, but now aims to empower South East businesses through partnerships, POS access, loans, and value for SMEs.
“We’re partnering on a huge impact program launching soon—impacting the tech community with technology, financing, and lending to create more millionaires from this city,” he added.
E-Business
NESREA, ACMTI, Others Launch Carbon Utilisation Initiative in Nigeria

The National Environmental Standards and Regulations Enforcement Agency (NESREA), in collaboration with the Africa Carbon Management Technology & Innovation (ACMTI) and the Clean Energy Ministerial Carbon Capture, Utilisation and Storage Initiative (CEM-CCUS), has launched a Carbon Capture, Utilisation and Storage (CCUS) Initiative Platform in Nigeria.

Speaking at the launch in Port Harcourt, Rivers State, Prof. Innocent Barikor, the Director-General of NESREA, described the project as a major milestone in Nigeria’s journey toward environmental sustainability, climate resilience, and industrial transformation.
Barikor explained that the CCUS solution provides an economically viable pathway for industrial decarbonisation by enabling the capture, storage, and utilisation of carbon in sectors such as beverage production, cement manufacturing, chemicals and fuels, enhanced oil recovery, and agriculture.
“We need to reduce carbon in the atmosphere to acceptable levels. Its utilisation offers opportunities to capture and store carbon and deploy it for industrial purposes. We are building a circular economy—turning environmental challenges into economic opportunities in line with regulatory provisions,” he said.
He noted that the CCUS Platform is a collaborative ecosystem designed to bring together key stakeholders, including government institutions, industry leaders, academia, technology developers, development partners, and investors.
Also speaking, the Vice-Chancellor of the University of Port Harcourt, Prof. Owunari Georgewill, commended NESREA for the initiative, describing it as a practical mechanism for coordination, innovation, and action toward Nigeria’s 2035 climate targets and broader energy transition goals.
He added that the university is well-positioned to host the CCUS initiative, noting that its Energy Technology Institute has developed credible expertise in energy transition-related fields critical to the success of CCUS in Nigeria.
On his part, the Coordinator of ACMTI and Facilitator of the Carbon Technology Innovation Platform (CTIP), Dr. Richard Victor Osu, said the vision is to position Nigeria as a regional leader in carbon management technologies while contributing meaningfully to Africa’s climate commitments and global decarbonisation efforts.
Osu explained that Port Harcourt was selected due to its potential as a CCUS hub, adding that the platform will focus on advancing research and innovation, building technical capacity, promoting public-private partnerships, attracting investment, and fostering collaboration with international research and technology partners.
Juho Lipponen of the CEM-CCUS Initiative assured that the organisation would support Nigeria in prioritising CCUS in clean energy discussions, strengthening carbon management deployment programmes, boosting partnerships, facilitating financing solutions, and promoting positive narratives around carbon utilisation.
The event attracted participants from the United States, France, Brazil, Canada, the United Arab Emirates, and the United Kingdom, who shared insights on the initiative.
Also in attendance were representatives of the National Oil Spill Detection and Response Agency (NOSDRA), the National Council on Climate Change (NCCC), the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), the Rivers State Ministry of Environment, as well as private sector stakeholders and development partners.
Broadcasting3 days agoFG to Gift Nigerians over 100 Free TV Channels from May 15
E-Financial3 days agoCBN Dismisses Polaris Bank Liquidation Claim
E-Financial3 days agoAfDB Okays $200m for Nigeria’s Digital Backbone, Others
General News3 days agoFG New Approves Biometric Passenger Verification System for Airports Security
E-Financial3 days agoNigeria’s Growth under Threat as Poverty Deepens, World Bank Warns
General News3 days agoBreaking Barriers: Cassava Technologies Expands Digital Access Across Africa
News3 days agoExperts Reveal a Steady Decline of High-severity Incidents Over the Years
E-Business3 days agoNESREA, ACMTI, Others Launch Carbon Utilisation Initiative in Nigeria


















