By Nkiruka Nnorom

CWG Plc has indicated its readiness to commence dividend payment at the end of 2022 financial years after years of non-dividend payment given the positive momentum being witnessed in the company as well as strategic innovations already put in place by the current management to boost the company’s earnings.

The company’s Group Managing Director/CEO, Mr. Adewale Adeyipo, made the pledge at the press briefing to announce the commencement of the company’s 30th anniversary, in Lagos.

Speaking at the meeting, Adeyipo said that revenue to be generated from its to be launched Fintech subsidiary – Fifthlab – would drive CWG’s income stream going into the future as the earnings would be recorded to CWG, adding that the focus of the current management in the last three years has been to reposition CWG for profitability and dividend payment.

He said: “In the last three years, the focus of this current management has been that before the end of fourth year, which is the end of my first tenure as the leader of this executive, we will be in a position to pay a dividend. Last year was the last of what we have. So, if you are a shareholder, you can go and borrow money because somebody will be paying you back for that.”  

Reflecting on the journey so far, he said:   “As we reflect our history, showcasing our humble beginnings, our victories, our losses and above all, our leaning as a knowledge driven organization, these experiences have produced the opportunity to refine our corporate strategy and values, eventually birthing our CWG 2.0 roadmap as well as the establishment of our training academy, cementing learning as an integral part of our ethos and culture.

“CWG is well positioned to remain committed to serving customers, deepening its relationship with its partners and all stakeholders,” he said.

Also speaking, Austin Okere, Founder and Executive Vice Chairman, CWG Plc, noted that retail payment systems and financial services being digitized is now a top goal for economic growth, adding that with a wider variety of financial services, it gives the chance to reach far more people at much lower costs and provide them with what they need to develop resilience and seize opportunities.  

To commemorate its 30th  anniversary, CWG Plc launched a number of activities including Transform-a-School initiative, Pitch for Transformation Challenge, Youth Boot Camp and an award night.