Austin Okere (CWG Founder)/ The $35,000 Decision That Built a $90 Million Company!
Afropolitan
The ATM crisis and pivot to ATM-as-a-service
Austin recounts stranded ATM inventory after CBN policy, shifting to service models and partnering with ATM Consortium and MTN.
Austin Okere, the founder of Computer Warehouse Group (CWG), Nigeria’s first technology company to IPO on the Nigerian Stock Exchange shares the extraordinary 20-year journey of building from $35,000 in seed capital to a $90 million public company.
In this powerful conversation, Austin reveals the hard truths about entrepreneurship in Africa: raising capital without structure, surviving the 2008 crash, handling rejection while scaling ethically, and knowing when to step down to make room for the next generation.
He explains:
◼️ Why building in Africa is harder and more meaningful than anywhere else
◼️ How to raise money ethically and survive multiple rejections
◼️ What most founders get wrong about succession and legacy
◼️ How to build trust, partnerships & governance investors respect
◼️ Why true wealth is measured by impact, not bank balance
🔗 Follow Austin Okere
LinkedIn – https://www.linkedin.com/in/austinokere
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This episode is sponsored by:
Vban, short for VIRTUAL BANK ACCOUNT NUMBER is the borderless banking app built for Africa’s digital workforce.
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Inverroche Gin, South Africa’s premium craft gin that fuses heritage botanicals with innovation.
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Hosted by
Eche — https://www.linkedin.com/in/eemole/
Chika — https://www.linkedin.com/in/chikauwazie/
00:00 – The Truth About Building in Africa
02:15 – Opportunities in Africa
04:55 – Starting CWG with $35,000
07:00 – Leaving His Job & Early Struggles
09:30 – Partnering with Dell
13:00 – Building Nigeria’s Maintenance Culture
15:30 – Telecom Expansion and VSAT Networks
18:10 – Managing FX Challenges
19:15 – The Afropolitan Toast Segment
20:00 – Software Beginnings & Banking Opportunity
23:00 – The Infosys Partnership
26:00 – Y2K & Winning Three Banks
28:00 – Scaling CWG Through Banking Consolidation
31:45 – $10M Aureos Investment
34:30 – Closing Tony Elumelu at Midnight
37:45 – Surviving the 2008 Global Meltdown
40:20 – Preparing for IPO
41:10 – Listing CWG at $90M Valuation
42:30 – 2,500x Return for Early Investors
44:00 – Private Equity Due Diligence Process
47:30 – Navigating the Nigerian IPO Process
50:55 – Co-Founders and Partnership Structure
53:50 – The T-Person & H-Person Framework
57:00 – Succession Planning & Letting Go
01:00:45 – Transition to Also Leadership Academy
01:03:00 – Redefining What It Means to Be a Billionaire
01:05:30 – How to Join a Board
01:07:55 – Ethics and Corporate Governance
01:09:30 – When CBN Banned ATMs
01:13:20 – Turning a Crisis Into Opportunity
01:15:30 – Reflections on the Abraaj Collapse
01:17:30 – Staying Grounded After Success
01:19:45 – Building the Also Leadership Academy
01:21:45 – Scaling Through COVID & Online Training
01:25:00 – Legacy, Impact, and Shared Prosperity
01:27:30 – Advice to Young Entrepreneurs
01:29:00 – Defining a Billionaire by Impact
01:31:15 – Lessons From 28-Year-Old Austin
01:34:30 – Closing Reflections & Outro
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