James Agada, chief executive officer, CWG Plc, says that the information and communications technology solutions provider will be focusing on innovation in its business model in the second half of its golden jubilee.
Agada stated this at an event marking 25th anniversary CWG held in Lagos.
He said that the company’s resolve to focus on innovation is based on the impact of innovative solutions and services in the survival of the CWG after its experienced business losses few years ago.
“During economic recession, 30% of our loss was as a result of foreign exchange and we decided not to take any business that is related to foreign exchange, with this decision we lost 50 percent of our business which was a difficult decision to take. We were able to survive because of innovative products and services these include our ATM-as-a-service.
“This means that instead of banks to buy ATM from us we deployed and operated it for them and they pay for the service ATMs perform,” he said.
He added that CWG also have innovation around platforms. “We started going to the market and asked organisations, how do you want to grow your business? When we started this interaction we noticed that the market is a lot bigger than we thought. It was then we discovered that Nigerians spend N5billion in gaming every day. This led us to start building solution around those areas where a lot of people are spending money to add value to the process,” he said.
He noted that CWG in the next 25 years will be about impact as the company is focusing on solving problems. Problems, that when they are solved will have impact on the lives of the people.
“The next 25 years is about impact which will give us longevity and we are going to make impact not only in the economy but also in the social life of Nigerians,” he said.
In his remark, Austin Okere, founder and vice chairman, CWG, used the occasion to announce his retirement from the company.
“If you are looking for me hence, please do not look for me at CWG, because just like you, I will have to sign the visitors’ register should I have any cause to visit the company as I will henceforth dedicate my time to giving back for the much that I have abundantly received. I have been receiving many requests for mentorship both locally and internationally and I have been doing my best to give advice. I find it very fulfilling, especially when I see my Wards’ eyes light up with hope after our encounter
He announced the setting up of AUSSO LEADERSHIP & MENTORING ACADEMY to inspire leaders and budding entrepreneurs to become outstanding, “so that they too can go forth and set up other CWGs to employ our youth and improve our society. I do eagerly look forward to having the first cohort early next year.
“What I have always known is that ‘a candle losses nothing by lighting other candles’. I believe that a billionaire should be someone who has positively, directly or indirectly, impacted a billion lives, rather than someone who has amassed a billion dollars,” he said.