Computer Warehouse Group Records N15bn Revenue
Goddy Egene devaluation of the Naira and the Central Bank of Nigeria’s (CBN) directive that excluded IT related companies from the Retail Dutch Auction System (RDAS) foreign exchange window,” the company said.
Speaking on the performance, the Chief Operating Officer, CWG, Mr. Philip Obioha, stated that the results reflected the current harsh operating environment, saying the macroeconomic trend, which the company started experiencing from the second part of last year, is expected to continue into the first quarter of 2015, until the conclusion of the successful presidential elections.
Also commenting on the results, Group Chief Executive Officer of CWG, Mr. Austin Okere,said the company would continue to consolidate her operations in new systems and processes to achieve improved cost efficiencies in the face of stiffer competition, and dwindling margins
“In doing so, we shall achieve a cost leadership position whilst delivering superior service to our customers,” he said.
The Chief Technical Officer of the company, Mr. James Agada, emphasised the group’s focus, in continuing investments in new lines of business, christened CWG2.0, which are better positioned to withstand macroeconomic shocks, especially those relating to foreign exchange.
For instance, he noted that, SMERP, the cloud based Enterprise Resource Planning (ERP) product for SMEs is ready for roll out and is currently being tested by a few Organisations.
“There are also collaborative agreements with multilateral organizations, which are focused on the growth of SMEs, in achieving inclusive growth in Nigeria, to deploy this product. CWG’s flagship ecommerce technology platform, openshopen.ng. is currently being deployed, with a few online shops running on it, with the plan for a mass rollout towards the 3rd quarter of 2015. Openshopen, an investee company of CWG, ( also operates globally in Ireland, Spain, brazil, Portugal, Chile, Mexico, Kenya, , Colombia & Panama), is an online enabling technology at the forefront of facilitating businesses which aspire to grow fast at a lower cost, by going online and making their goods and services available on a wider spread, on the internet,” Agada said.
Delta State Governor, Dr. Emmanuel Uduaghan last week in Asaba inaugurated the fly-over bridge constructed at the cost of N3.5 billion to ease the traffic jam within the metroplis.
The fly-over, awarded on August 6, 2013, was constructed over the existing two-lane roundabout, which was also expanded to three lane, was complemented with U-turns with independent entry and exit lanes.
The scope of the works includes a 120 metre-long six-span bridge, two ramps of about 140 metres each on either approach, bringing it to a total of 400 metres long.
The project became necessary because of the huge traffic that the existing two-lane roundabout had continued to witness and in response to the rapid geometrical urbanization growth in the connecting Core-Areas of Okpanam and Anwai/ Ugbolu axis of the state capital.
The Governor, who was in company with his Commissioner for Works, Hon. Funkekeme Solomon, other top government functionar-