CWG Reports 142% Growth in IT Infrastructure Services
CWG has experienced a remarkable 142% growth in its IT Infrastructure Services during the first half of 2026, a result of a strategic transformation that began in 2009. This transformation was marked by a private placement ahead of its listing on the Nigerian Exchange, where it was valued at N6.97 billion ($50 million).
CWG listed on November 15, 2013, at N5.48 per share, nearly double its 2009 private placement price. Despite a turnover of N20 billion in 2013, profit before tax was only N613 million, revealing the limitations of its hardware-led business model.
This prompted the "CWG 2.0" transformation, focusing on cloud computing and a subscription-based service model. The introduction of a Tier 3 data center supported this shift.
As a result, profit before tax margins increased from 3.1% in 2013 to 12.2% in 2025, with revenue reaching N65.5 billion and profit before tax at N8.01 billion.
Plus234Feed summary based on reporting from BusinessDay. Read the original report below.
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