Austin Okere (CWG Founder)/ The $35,000 Decision That Built a $90 Million Company!
Afropolitan
2008 crisis, fundraising struggle and options
Austin recounts the global meltdown's impact, deciding between organic growth or pursuing an IPO/liquidity event.
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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