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5 Best Technology Stocks in Nigeria

Analyst Team trader
Updated 26 Oct 2022

Nigeria is regarded as Africa’s largest market for information and communications technology (ICT), with 29% of the continent’s internet users and 82% of its telecom customers, respectively.

In addition, over the next five years, Sub-Saharan Africa is forecast to attract over 167 million new subscribers, making it the region with the greatest anticipated CAGR.

Nigeria is responsible for more than half of this. By the end of May 2021, the nation will have 187 million phone lines, making a total of 76 million lines (or 40% broadband penetration), according to the NCC.

Information and communication technology (ICT) is seen by the government of Nigeria as being crucial to the development of other important industries like healthcare, agriculture, and industry.

The GON is actively recruiting partnerships between domestic information and communication technology enterprises and their international counterparts as part of its efforts to wean the economy off of its dependency on oil and gas.

To encourage these partnerships and broaden the technical entrepreneurial environment, GON has pushed for the creation of government and private sector-led incubator centres, youth innovation initiatives, and scientific technology parks.

We have picked the top 5 technology stocks in Nigeria due to the exciting advances in the country’s ICT sector.

Best technology stock in Nigeria to buy right now


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5 Best Technology Stocks in Nigeria

1. Courteville Business Solutions (COURTVILLE)

Overview

Courteville Business Solutions is an internet company that serves businesses. It helps with data collection and more.

Courteville Business Solutions

The company’s solutions are suitable to private and government sectors like NAFDAC. The FDA is NAFDAC. This company also serves law enforcement authorities.

Courteville Business Solutions Plc shares are 0.35 Naira each (NGN). The company is worth 1.24 billion Nigerian naira with a price-to-earnings ratio of 11.67 and earnings-per-share of 0.03 NGN. Shares total 3.55 billion.

Courteville Business Solutions Plc’s increased profits per share and stable profitability will boost dividends and stock value.

Real-time Courteville Business Solutions Plc stock price reveals analysts’ projections for the company, which expects sustained Consumer Goods sector growth and increased trading volumes.

Courteville Business Solutions Plc ranks 14th on NGX year-to-date. Since starting the year at 0.21 NGN, the company’s share price has risen 66.7%.

Courteville Business Solutions Plc is the 15th most actively traded company on the NGX, with 5.39 million shares changing hands per trading session. 339 million shares worth 90.6 million NGN traded in 1,555 trades. Daily volume reached 34.8 million.

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2. Computer Warehouse Group Plc (CWG)

Overview

Computer Warehouse Group Plc is a Nigerian Stock Exchange-listed ICT company (NGX). The company provides ICT services to sub-Saharan businesses. The company’s three departments are CWL Systems, DCC Networks, and Expert Edge Software.

Computer Warehouse Group Plc

OpenMall aggregates all the stores hosted on an e-commerce platform, and SMERP helps small and medium enterprises manage their business operations efficiently. Both are examples of Computer Warehouse Group Plc’s expanded product and service portfolio, which now spans more stages of the Technology value chain.

Software services include designing and delivering software, integrating software with systems, launching software, and providing software support.

Managed services streamline IT management, enhance efficiency, and reduce stress, saving customers time and money. IT infrastructure services installs, integrates, and supports IT hardware for middleware systems, ATMs, servers, and storage platforms. CWG Training provides training for such setups.

Computer Warehouse Group Plc shares are trading at 1.02 Naira on the NGX (NGN).

Computer Warehouse Group Plc has a market value of 2.58 billion Nigerian naira (NGN), a price-to-earnings ratio of zero, and earnings per share of zero NGN.

As Computer Warehouse Group Plc’s earnings per share and long-term profits improve, so should dividends and profits.

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3. NCR Nigeria Plc (NCR)

Overview

NCR Nigeria Plc is a public technology company that provides integrated technology solutions and after-sales services to Nigeria’s commercial sector.

NCR Nigeria

NCR Nigeria Plc offers ATMs, retail POS, self-service kiosks, self-check-in/out systems, and computer consumables.

In addition, NCR Nigeria Plc provides support services for planning, implementing, and maintaining its own and third-party products.

Based on their financial disclosures, analysts have estimated that NCR Nigeria Plc is worth 324,000,000 NGN.

As NCR Nigeria Plc’s profits per share and long-term profitability grow, investors should expect higher dividends and earnings.

Analysts expect the Technology sector to continue performing better than projected, with market share and trading volumes rising.

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4. Omatek Ventures Plc (OMATEK)

Overview

Omatek Ventures Plc is a Nigerian holding company trading on the Nigerian Stock Exchange (NGX). It owns firms that create, distribute, sell, and repair computer equipment and provide technical services.

Omatek Ventures Plc

Omatek Ventures Plc’s products and services now span the technology industry’s value chain.

Omatek Ventures Plc sells CRT displays, fingerprint scanners, wireless routers, notebooks and tablets, DVDs, plasma TVs, desktop computers, speakers, and LED screens.

Omatek Ventures Plc began trading on the Nigerian Stock Exchange (NGX) on January 27, 2009.

Omatek Ventures Plc is based in Oregun, Nigeria at 11 Kudirat Abiola street. Omatek Ventures Plc has a market value of 588,000,000 NGN, a P/E ratio of 2.00, and earnings per share of 0.10 NGN. 2,940,000,000 shares are available.

As Omatek Ventures Plc’s profits per share and long-term profitability grow, investors should expect higher dividends and earnings.

Industry experts forecast increased trading volumes and a subsequent growth in Omatek Ventures Plc’s market share, both of which are favourable indicators for the Technology sector as a whole.

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5. Tripple Gee Plc (TRIPPLEG)

Overview

Tripple Gee & Company Plc was created in 1980, although it didn’t become a public company until 1991.

5 million of 10 million authorized shares were issued and paid for at the listing. Due to the company’s growth over the past 29 years, it now has over 500 million shares valued N247.48 million at N0.50 per share.

The company specializes in MICR-encoded and bespoke checks, dividend warrants, and share certificates. It sells labels and packaging materials.

53% of the company’s operations involve packaging, while 47% involve printing.

In recent years, the company’s income has derived mostly from packaging, printing, and packaging services.

Tripple Gee has outlasted its founder, proving its longevity. The company adapts to the digital age by offering consumers more complete options.

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The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.