Afropolitan

Austin Okere (CWG Founder)/ The $35,000 Decision That Built a $90 Million Company!

31 snips
Oct 29, 2025
Guest
Austin Okere
Austin Okere, the founder of Computer Warehouse Group and a pioneer in Nigeria's tech landscape, shares his incredible journey from a $35,000 startup to a $90 million public company. He discusses the unique challenges of entrepreneurship in Africa, the importance of ethical fundraising, and how to build trust and lasting partnerships. Austin reflects on pivotal moments like rejecting initial private equity offers and strategizing for an IPO. He also emphasizes the significance of legacy and succession planning for future leaders.
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ANECDOTE

Tough Choices Before Taking PE Capital

  • CWG turned down early PE offers ($2m for 25% and $8m for 25%) before taking $10m from Oreos/Abridge after the 2008 crisis.
  • The $10m investment for 17% later enabled CWG to survive the crash and pursue an IPO.
ANECDOTE

Winning A Bank Pitch At Midnight

  • Austin and team waited from morning until midnight at a board retreat to present to Standard Trust Bank, showing persistence won the deal.
  • The late-night presentation impressed Tony Elumelu and led to major banking contracts and further scale.
ADVICE

Prepare For Brutal Due Diligence

  • Prepare a full data room and expect intensive due diligence; you will typically cover many of the diligence costs.
  • Negotiate key terms early and choose your battles; leverage reduces dilution and punitive clauses.
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