NITRA 3rd forum: Banks, Global Accelerex, CWG Plc, Yudala drum support

ITRealms:

All is now set for the third quarterly forum of the Nigeria Information Technology Reporters Association (NITRA) billed for Friday, October 13, 2017, as more industry players in the ICT, banking, and FinTech sectors of the Nigerian economy drum support for the event, reports ITRealms.

The latest to declare their support for the flagship ICT reporters association quarterly seminar are Global Accelerex, an effective and secure payment solutions provider; Yudala, fast rising e-commerce operator and Nigeria’s first ever composite online and retail chain; and CWG Plc, a total ICT solutions provider.

Others are three of Nigeria’s leading IT-driven commercial banks namely, Fidelity Bank Plc, Wema Bank Plc and Zenith Bank Plc.

The Nigeria Information Technology Reporters Association (NITRA), an umbrella body for journalists reporting information and communications technology in Nigeria is organising the third edition of its quarterly forum entitled “Digital Payment: Prospects and Challenges of a Financially Inclusive Nigeria.”

The event which holds this Friday at the R-Café Event Centre on Isaac John Street, GRA, Ikeja, Lagos, will not only highlight the challenges and opportunities in the FinTech space in Nigeria, but will also provide knowledge and networking platform that will bring the Nigeria Fintech industry at par with its counterparts across the globe.

At the event, the Banking, ICT and FinTech industries will be offered an excellent opportunity to showcase some of their achievements before the largest gathering of the sectors players under one roof as well as share their contributions to Digital Payments in addition to efforts towards actualising financial inclusion in the country.

Mr. Austin Okere, Founder/Vice Chairman of CWG Plc, had since accepted to chair the one-day event.

It should be noted that digital disruption has been changing how traditional banking services, payments, and remittances are now offered in the digital economy, as almost all sectors of financial services are being re-imagined by non-traditional providers and FinTechs, while the traditional incumbent providers are reinventing themselves very quickly to understand better, the puzzle presented by FinTech and how they can leverage on the digital movement.

Uj. Dominic/GEE

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What Kruger’s team told CWG boss

ITRealms:

The Chief Information Officer of Standard Bank, PBB Rest of Africa, Mr. Klaas Kruger has expressed excitement over the relationship the bank has with Computer Warehouse Group (CWG Plc), reports ITRealms.

In his remarks at a recent official visit to CWG headquarters in Lagos, Kruger who led a team from the bank to the occasion, could not hide his delight on the support offered by CWG on the bank’s effort at upgrading its Finacle system.

ITRealms also gathered that Kruger was optimistic of extracting more value from the relationship and especially from the later version of Finacle.

Earlier in his presentation, the Chief Executive Officer of CWG Plc, Mr. Austin Okere used the key ring concept to explain CWG’s solutions offering. The concept denotes the Company’s ability to handhold an institution’s entire Information Technology needs end-to-end to assure the customer of a single responsibility partner across the IT solution stack and thereby significantly minimizing risk.   

According to Okere, CWG Plc has world class IT facilities and capabilities as well as strong relationships with global technology brands and esteemed clientele spanning over two decades, and is poised to replicate the unique value Pan-African wide to meet the growing requirements of her global customers, who want a consistent service level across their Africa operations.

“These three factors—Facility, Capability and Relationship have given us an edge in providing IT services and support in various industries in our countries of operation especially Telecom, Oil & Gas and Banking. About 50 per cent of Mobile calls in Nigeria are routed through enterprise servers and storage managed and supported by us while 40 per cent of Telecoms Information Systems Managed Services are also provided by CWG” he noted

“Same applies to the banking industry, about 30 per cent of Automated Teller Machines’(ATMs) transaction pass through CWG’s Wincor-Nixdorf ATMs while about 35 per cent of ATMs installed base in Nigeria are supplied and supported by CWG” Okere declared.

For the Chief Technology Officer of CWG Plc, Mr. James Agada emphasized “60 per cent of banking transactions in Nigeria happen on our Finacle Core Banking system, installed in 10 of the 21 Nigerian banks, and about 20 per cent of bank branch transactions on data links are carried out through CWG’s Network Infrastructure.

He stressed that CWG Plc and her partner, Infosys have also extended the Finacle Core Banking System to other African countries where they now have physical presence, with CWG’s certified technical staff handling both the implementation and support.

Thereafter, the team toured CWG Plc’s IT facilities, including the Tier 3 Datacentre, Network Operations Centre, Customer experience Centre and Academy, which assures continuous quality skills to support her continental expansion ambitions. CWG Plc currently has direct operations in Nigeria, Ghana, Uganda and Cameroon and partnerships in 18 other countries.

  
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CWG 2.0 business model yielding fruit in H2 2015

PR@ITRealms:

The founder and Chief Executive Officer of Computer Warehouse Group (CWG) Plc, Mr. Austin Okere noted that the Company’s subscription business has begun to yield fruits. This statement was made by the CWG boss during his speech at the 10^th Annual General Meeting (AGM) held in Lagos on the 25^th of June, 2015.

Addressing participants, the company’s Acting Chairman, Mr. Abiodun Fawunmi, said that “CWG Plc made significant progress in her key business objective for 2014 which was to scale out the subscription business in order to be the No 1 technology platform provider in Africa by 2015, a business model that would provide predictability, as well as ensure annuity revenues.”

The Company re-iterated her commitment to continue her focus in developing new lines of businesses, under the CWG2.0 model, which are better positioned to withstand macroeconomic shocks, especially those relating to foreign exchange movements. The new products include the flagship CWG-SMERP, the cloud based Enterprise Resource Planning (ERP) product for SMEs, the award-winning Openshopen.ng, her ecommerce technology platform and CWG-SES Teleport Services. Being Intellectual Property locally developed, implemented and supported by CWG, the business growth and profitability are immune from the shocks of foreign exchange fluctuation.

On the Company’s financial scorecard, the Acting Chairman noted that her gross margin percentage grew by 5% to 20% (2013: 19%) while the financing costs and general operating costs declined by 43% and 15% respectively to N199.8m and N2.7bn (2013: Financing cost N348.7m, OPEX N3.2bn) showing better efficiency of our operations. The Company also finished with an improved cash position of over N1.5bn at the year end. Shareholders at the event were informed of the payment of the 2kobo dividends per unit share, to be made within 24 hours.

According to Mr. Okere, the CWG subscription business model was conceived five years ago as the Company needed to re-invent and transit herself to become a company that could predictably grow revenue and profit. From a small startup some 23years ago with seed capital of barely N160,000, CWG has grown to become one of Africa’s largest system integrators with revenues of more than $100m, 650 staff and operations across Nigeria and three other African countries, CWG had always been at the forefront of innovative information technology solutions that enables growth.

Mr. Okere noted that the opportunities that CWG has successfully pursued under her subscription business include providing a cloud solution for micro finance institutions in partnership with MTN (a solution dubbed MTN XaaS), building a cloud based solution for Micro, Small and Medium Enterprises (MSMEs) to manage their businesses, partnering with openshopen.com to build an ecommerce platform for increased visibility and sales. CWG’s investment in building technology that addresses power theft, which is a major concern of most Power Distribution Companies, has gained significant traction with the first commercial order, and four other proof of concepts completing and progressing into commercial sales. The Company has also partnered with SES Astra to operate a digital satellite television teleport service. 

He noted that being certified by the CBN as a payment terminal service provider (PTSP) will enable the company to deepen her offering in the Point of Sale and Payment systems. Recognizing the need for automation and effective management of internally generated revenue, CWG has recently launched technology solutions that help State Governments to increase their internally generated revenue in the area of third party Insurance management system.

“Not unexpectedly, this has been a slow and difficult journey into innovative and uncharted territory that is beginning to show green shoots in sales, that will be consolidated in the second half of 2015. For instance, adapting the FinEdge technology platform to power the backend of the Diamond Yello Account product, has generated platform subscriber base exceeding expectation to 4 million in less than a year after launch, and with potential to grow to 10 million by the end of 2015. Also, the first order for the power theft detection and prevention system has been secured with one of the electricity distributors opening the way for a foray into a market with estimated potential in excess of $200m within the next two years” Mr. Okere declared. 

He further highlighted that the Company’s SMERP business management platform has been extended to various verticals including medical, retail and manufacturing and is fast winning deals, including one with a major retail chain about to build out more than twenty outlets in Nigeria within the next two years. The CWG-SES teleport infrastructure has also begun re-broadcasting digital television signals for more than 8 broadcasters.

“CWG’s Mobile Financial Services partnership with CIT Vericash is set to power the mobile financial services of one of the largest banks in Nigeria with plans for full scale Africa-wide deployment in the coming months. Most significantly, CWG and her consortium partners have started their first phase of the deployment of a unique third party insurance management system for one of the largest states in Nigeria. This system is projected to help the state generate significant revenue while ensuring that the public gets benefit for their mandatory third party insurance on their vehicles” Mr. Okere continued.

“While not yet Africa’s number one Technology Platform Provider, the increasing pace of roll out of platform solutions and growth in subscriber numbers are clear pointers of reaching that ambitious goal sooner than later” he concluded.

The event also witnessed the election of Mr. Kunle Ayodeji as an Executive member of the Board in charge of Finance and Operations. Mr. Ayodeji is a seasoned professional with over 15 years of experience in the fields of banking, financial consulting and private equity. He has held Executive positions in numerous organizations including KPMG and Abraaj Capital. In the same vein, three other shareholders were also elected as members of the audit committee, while Ernst and Young was reappointed the company’s auditor for another year.

The AGM was well attended by the esteemed shareholders, the media, the Company’s Acting Chairman, Mr. Abiodun Fawunmi;  Executive Directors: Chief Executive Officer, Mr. Austin Okere; Chief Operating Officer, Mr. Phillip Obioha; Chief Technology Officer, Mr. James Agada; Executive Director, Finance and Operations, Mr. Kunle Ayodeji; Non-Executive Director, Mr. Emmanuel Ijewere; Company Secretary, Barrister Okey Ejibe, and other stakeholders.

 
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BoICT 2015: Openshopen.ng is eCommerce platform of the year

ITRealms:

The electronic commerce (ecommerce) platform, Openshopen.ng from the Computer Warehouse Group Plc was proclaimed the ecommerce platform of the year at the 2015 Beacon of Information and Communication Technology (BoICT) awards in Lagos, recently, reports ITRealms.

Openshopen.ng, ITRealms also reports, won the award after having the highest number of votes in the said category based on an online poll that featured over two hundred thousand entries via email and on the awards electronic voting portal.

Speaking on the credibility of the process, the Chairman of the event and Chief Executive Officer, Zinox Technologies limited, Chief Leo Stan Ekeh observed “I know that those that won the awards tonight deserved them because I can confidently say that the publisher, whom I know very well, is a man of integrity and he will give you what you deserve.”

Presenting the award, Mr. Chris Uwaje, former President of the Institute of Software Practitioners of Nigeria (ISPON), observed that CWG Plc is known for rolling out IT solutions that are remarkable for standard, customer satisfaction and reliability. “Once again, CWG, with Openshopen has shown us that indigenous IT firms have the capacity to provide the needed back-up for our growing economy”, he added.

Speaking on the significance of the award, Mr. Austin Okere, the Founder and Chief Executive Officer, CWG Plc, said “Winning the award of the ecommerce platform of the year in just less than one year of introducing our solution to the Nigerian market speaks volume of the unique value Openshopen offers to SMEs and how they have come to appreciate it”. “Our ecommerce platform has the capacity to support over 100 million stores. It offers businesses the advantage of building and promoting their own brands rather than just dumping their goods and their fates in the hands of third parties, whose brands they are invariably promoting. By displaying their goods online, entrepreneurs significantly increase their sales, thereby creating jobs and ensuring inclusive growth for the economy”, he pointed out.

Openshopen is an ecommerce platform that enables SMEs sell their products online by opening an online store on www.openshopen.ng. It differs from other online shopping platforms, in that it allows merchants sell directly to buyers and have the privilege of promoting their brands, unlike other platforms that require merchants to submit their wares for sale. With Openshopen, store owners can sell their products and receive payments, from any location and are guaranteed of uninterrupted uptime. Merchants have also commended the flexibility of the platform which allows them to open and manage their store with relative ease. 

Six years since inception, the BoICT awards ceremony has been an annual convergence of key players in the ICT industry and a platform to review the strides of the industry in the preceding year and set a benchmark for recognizing and validating achievements in the year ahead. 

Some of the personalities at this year’s event include Chief Leo Stan-Ekeh; Mr. Chris Uwaje, former President of the Institute of Software Practitioners of Nigeria (ISPON); Dr. Emmanuel Ekuwem, the former president of the Nigeria Internet Group (NIG); Mr. Soni Irabor, CEO Inspiration FM and Mr. Peter Bankole, Director of Enterprise Development Centre of the Pan-Atlantic University among others.

+Remmy Nweke (ITRealms) 

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Pix R-L: Success Nmerife, Head Marketing Communications, Computer Warehouse Group Plc, receiving the ecommerce platform of the year award from Mr. Chris Uwaje,immediate past  President, Institute of Software Practitioners of Nigeria (ISPON) at the BoICT awards held in Lagos

CWG rewards best graduating Computer Science students @ UNILAG, UNIDouala

ITRealms:

The Computer Warehouse Group (CWG Plc) has rewarded the best graduating students of the Computer Science Department of the University of Lagos and the University of Douala, Cameroon, as part of her Corporate Social Responsibility (CSR) programme, reports ITRealms.

At the two distinct ceremonies, CWG representatives presented gifts to the students in furtherance of the company’s bid to extol the essence of attaining academic excellence.

The Vice Chancellor of the University, Professor Rahman Bello observed that if the focus of Computer Warehouse Group Plc’s (CWG) Corporate Social Responsibility (CSR) initiative is sustained, it is capable of aiding Universities in Nigeria to attain desired greatness.

“This award presentation has been an annual event. Since inception, CWG has lived up to their promise of rewarding the best graduating student in Computer Science Department every year, for five years now. On behalf of the management of the University I thank your organization for your commitment to this partnership. Your commitment to promoting academic excellence will help us in going forward,” he said.

As said by Prof. Bello, CWG deserved every commendation, declaring the contributions have been helpful.

“At the moment, University of Lagos is the twentieth best school in Africa and the first in Nigeria, according to the 4icu rankings. Going by our consistent progressive performance, we look forward to being the first in Africa anytime soon. This is our target. And, we believe that the input of corporate partners like CWG will see us through to the point we aim to get to”, he said.

In response, Mr. Phillip Obioha, CWG’s Chief Operating Officer, pointed out that the annual award presentation event underscores CWG’s emphasis on hard-work and qualitative education. According to him, “Our business scope covers a range of sectors; from banking to telecoms and recently SMEs. Our business is all about the quality of our workforce. We boast of an array of professionals whose expertise has formed the bedrock of service providers in the telecoms sector, for example. Our premium on quality workforce explains our emphasis on quality education.”

Thereafter, he presented the prize to the Master Agho Adrian Osemwonyemwen, and informed the audience that the award includes a prospect of employment with CWG, if the recipient so desires.

“Someone told me that a reward for hard work is more hard work. This will go a long way in motivating me to aim for higher attainments. And I promise to use what I have been given to do more than I have done”, he assured.

Similarly, in Cameroon, Mr. Alexis Mbele Ngono received the CWG excellence award for being the best graduating student of the Computer Science Department, Institute of Technology, University of Douala.  Speaking at the presentation ceremony, Mrs. Olapeju Ayo-Fisher, Head of Human Resources and Administration, noted that excellence is an integral component of the CWG corporate culture. This, she noted, has defined CWG’s business approach and service delivery over the years.

“At CWG, we appreciate excellence wherever we find it. We nurture excellence within our system. And, we are very particular about doing whatever we do to the best standard of excellence, the first time and at all times.”  “Our presence here today offers us a unique opportunity to make known to our host business community here in Cameroon that we promote excellence in academic pursuit and support our host communities” she noted.

Responding, Alexis Ngono thanked CWG for the novel gesture. He observed that the initiative is capable of motivating other students to aim for excellence in their academic pursuit. According to him, “this award presents a remarkable opportunity for students who want to leave a legacy of excellence to be appreciated and encouraged.” “This is also an opportunity for many of us to pursue an excellent carrier outside the school environment,” he said.
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 Pix: Master Agho Adrian Osemwonyemwen receiving is prize from Mr. Obioha.

CWG secures CBN PTSP Licence

Computer Warehouse Group Plc (CWG), the leading Pan-African ICT Company has secured the Payment Terminal Service Provider (PTSP) license from the Central Bank of Nigeria, reports ITRealms.

This license, ITRealms gathered, would afford CWG to offer services in the areas of Payment Terminal Service Provider (PTSP) to Point-of-Sale terminals (PoS) nationwide.

ITRealms reports that this followed a recent visit by a delegation of the apex bank to CWG in the last quarter of 2014 to assess the company’s readiness and ensure that the company has fulfilled all conditions necessary and is therefore qualified to be licensed as a Payment Terminal Service Provider in the country.

CBN Director of Banking and Payment Systems Department, Mr. Dipo Fatokun, in a letter addressed to Computer Warehouse Group (CWG), stated that CWG “has successfully passed through the various stages of evaluation.”

 These, ITRealms reports, include an inspection of the company’s facility and processes, an allowance of a test period, during which the company’s products were carefully examined for quality and standard. 

The letter further stated that CWG is “hereby licensed to perform the activities Payment Terminal Service Provider (PTSP) for Point-of-Sale terminals (POS) in Nigeria,” CBN declared.

The PTSP license certifies that a company has the infrastructure to competently deploy, maintain and provide support for POS terminals in Nigeria. According to the CBN, “A PTSP shall offer services to acquirers covering all aspects relating to terminal management support, including but not limited to purchase and replacement of spare parts, provision of connectivity, training, repairs, and development of value added services, amongst other things.”

Reacting to the development, Mr. Austin Okere, the Founder and Chief Executive Officer, CWG, noted that the license is a testimony to the capability CWG Plc to competently deploy functional PoS terminals to the market at a time when CBN is vigorously pursuing the ideal of making the Nigerian business clime a cashless model.

Although the number of POS terminals increased to about 125,000 as at June last year and the value of PoS transactions increased to about N138 billion during the same period, statistics from the apex bank also indicate that about 46 percent of adult Nigerians have no access to financial services. 

According to Okere, “Our track record in the financial services sector as indicated in the deployment of our Finacle core banking application to foremost banks in Nigeria, our technical platforms for Firstmonie and Diamond Yello account, are pointers to our capacity to be instrumental to the actualization of a truly cashless economy”.

For the Chief Technology officer, Mr. James Agada, CWG’s quest to deploy POS terminals is an integral part of her new business module christened CWG 2.0.

“The deployment of our POS terminals is inclusive of our business package for SMEs. We believe that there should be 17million terminals if there are over 17 million existing SMEs in the country. This would aid in the growth of smaller businesses and consolidate the cashless economy initiative of the government,” he said”

Agada pointed out that these terminals are going to be tailored to suite the specific peculiarities of SMEs and could work anywhere. 

“It will also allow merchants do more since it has multiple payment option. This means that a merchant can receive payments for bills, sell Jamb pins, airtime and importantly, keep inventory of sales using the same POS terminal. This will be our quota to enabling inclusive growth in the economy,” Agada said.

 
+Remmy Nweke (ITRealms) @CWG @AustinOkere

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L-R: Mr. Amir I. Adamu, Senior Supervisor, Banking & Payment System, CBN; Mr. Sadiku Yakubu, Assistant Manager, Banking & Payment System, CBN and Mr. James Agada, Chief Technology Officer, CWG Plc during the PTSP Licence audit in Lagos