Kelechukwu Mgboji 
CWG Plc has declared a dividend of 39 kobo per share, more than doubling last year’s 16 kobo, following an extraordinary financial performance in 2024.
The announcement was made at the company’s 20th Annual General Meeting (AGM) held in Lagos on Thursday. The technology giant recorded a staggering 428 percent increase in profit after tax, soaring from N576.08 million in 2023 to N3.04 billion in 2024.
Revenue leapt 97 per cent year-on-year, hitting N46.35 billion, up from N23.53 billion the previous year—underscoring CWG’s accelerated growth trajectory.
Shareholders, visibly buoyed by the results, applauded the board and management, citing the company’s consistency and bold expansion strategy as markers of longterm value creation.
Key to CWG’s exceptional showing were its regional subsidiaries. CWG Ghana delivered N8.44 billion in revenue, a 104 per cent uptick, while CWG Uganda’s earnings climbed by 107 percent to N7.34 billion—highlighting the company’s growing regional footprint.
Board Chairman, Mazi Philip Obioha, attributed the robust performance to resilience in the face of economic turbulence.
“Despite global headwinds—rising inflation, currency volatility, and fiscal tightening—CWG has proven that agility, innovation, and disciplined execution yield measurable success,” he stated.
Obioha also spotlighted CWG’s rising stature within the tech ecosystem, bolstered by industry accolades from Infosys and the Nigeria Technology Awards.
He expressed optimism about macroeconomic stabilisation in 2025, projecting a favorable environment for further expansion.
Group Managing Director and CEO, Mr. Adewale Adeyipo, pointed to the strong performance of CWG’s fintech arm, Fifthlab, and bold moves into East Africa and the Middle East as key growth levers.
“We are laying the foundation for what CWG will become over the next two years. The numbers reflect not just current success, but a clear vision taking shape,” he said.
