First, let us give a warm welcome to the Honourable Minister of Communications Technology Mrs. Omobola Johnson. We are delighted to have you back at The Exchange. Thank you for your support towards this listing and your overall commitment to The Exchange as a veritable platform for raising capital in the ICT sector of the economy.
Distinguished members of the High Table; Chartered Stockbrokers; Financial Analysts; Fund Managers; Ladies and Gentlemen of the Press. On behalf of the Council, Management and Staff of The Nigerian Stock Exchange I welcome the Board and Management of Computer Warehouse Group Plc (CWG) to this Facts behind the Listing Presentation.
I congratulate the CEO, Management and Staff of CWG Plc for working diligently over the years to build this great organization. I also congratulate the Chairman and members of the Board of CWG Plc for making the important decision to list this great company at The Nigerian Stock Exchange. The Exchange made a commitment to facilitate durable wealth creation by listing and nurturing the next group of “African Champions”. These are companies with $1B or more in market capitalization. We view your listing today, as a step in your journey to becoming an African Champion.
Today, ICT is at the bedrock of every progressive economy and has enabled cutting edge African companies compete at a global level. CWG, being one of the foremost systems integration companies in Africa, has blossomed into a company covering a plethora of ICT products and services. They have 18 offices and support centers across Nigeria, presence in four African countries; Nigeria, Ghana, Uganda and Cameroon, and Virtual presence in 17 other African countries. Over the years the organization has received numerous accolades and awards within the ICT sector. We are quite optimistic that CWG will also do very well in the Nigerian Capital Market.
We are proud that CWG Plc has taken a strategic step to join the prestigious club of quoted companies in Nigeria and I once again commend them for this bold step. I use this opportunity to call on other firms in the ICT sector, which are undecided on whether to list their shares on The Exchange, to make up their minds -as there are significant benefits to be derived from being a listed company. These include continuity of the company way after the founder has retired, lower cost of long term funding, visibility, enhanced branding, diversified risk of ownership, and enhanced corporate governance amongst others.