Firm Sets $100bn Revenue Target For 2036, Plans NGX, London Listings

A Nigerian conglomerate has set a $100 billion consolidated revenue target for 2036 and announced plans to pursue listings on the Nigerian Exchange (NGX) and the London Stock Exchange by 2027 as part of an ambitious expansion drive across real estate, agriculture, financial technology, aviation and manufacturing.

The group, Wisdom Kwati Group, unveiled the 10-year growth blueprint, tagged Vision 2036, during the inauguration of its corporate headquarters in Abuja and the presentation of Wisdom Kwati Smart City, Karshi, as a public limited company.

The chairman, Wisdom Kwati, said the revenue target was a long-term ambition rather than a reflection of the group’s current financial position, pledging to subject its operations to stricter governance, independent oversight and international auditing standards.

“It is not a claim that we are already a $100 billion enterprise. We are not. We will report under IFRS, audited internationally. Related-party transactions will go to independent directors. If we cannot defend that figure, we will not claim it,” Kwati said.

He said the next phase of the group’s development would focus on compliance, documentation and measurable delivery, stressing that the success of Vision 2036 would depend on building businesses capable of demonstrating verifiable performance.

As part of its capital-raising strategy, management said Wisdom Kwati Smart City Plc had received clearance to begin its listing process, with private placements expected to precede a proposed initial public offering and dual listing on the NGX and London Stock Exchange in 2027.

The group also disclosed that its smart city subsidiary operates across seven locations, including Adamawa, Rivers, Abuja, Lagos, Kaduna, Nasarawa and Oyo states. Management put the subsidiary’s asset valuation at about N74 billion, compared with a reported turnover of N10 million at an earlier stage of its operations.

The figures were not independently verified at the event.

Under Vision 2036, the group projects that its smart city business will generate $50 billion through the development of five million homes across Africa, Asia, Europe and North America.

Its financial technology platform, which management said currently has more than 7,000 users, is expected to grow to two million users within 24 months and 50 million by 2036, with a projected revenue contribution of $20 billion.

The group also announced plans to expand its agricultural operations following the acquisition of 1,000 hectares of land in Keffi, Nasarawa State, for its farming business. It plans to increase the land under cultivation to 10,000 hectares by 2030, with a longer-term ambition of securing up to 500,000 hectares across West Africa.

In addition, management said it had secured 11,500 hectares in Nuni, near an airport in Sierra Leone, in partnership with the country’s government. Discussions were also said to be ongoing on proposed smart city projects in the United Arab Emirates, Ghana and Houston, Texas, by 2030.

The group plans to introduce water and rice products by January 2027, sugar in the second quarter of that year, cement in the third quarter and fertiliser towards the end of 2027.

Its artificial intelligence platform, Karrot, which management said had generated more than N100 million, is projected to reach $1 billion in revenue by 2030.

Group Chief Operating Officer, Pastor Baba Yerima Ballah, traced the organisation’s development from its beginnings as Tarabost about a decade ago to what he described as a 500-person organisation.

Ballah said the group had initially explored foreign funding for its smart city concept through a proposal submitted to the German government. However, he said regulatory bottlenecks frustrated efforts to secure the financing, prompting the organisation to reconsider its strategy and pursue local development.

He identified the group’s businesses as spanning construction, security, fintech, agriculture, aviation, technology and real estate, including Karabo Construction, Infinity Kingdom Guards, Kwati Fintech Bank, Kwati Rice and Sugar, Kwati AI and Kwati Air.

Kwati said the group’s long-term objective was to establish businesses capable of delivering infrastructure and services rather than relying on ambitious projections alone.

“Africa does not lack visions. What it lacks is the operating machine that will turn visions into houses with bedrooms, flights that land on time, and cities that will have water and title, not only renders,” he said.

The group said its operating model would encourage its subsidiaries to patronise one another, creating an interconnected business structure intended to support growth across its various sectors.

Management also pledged to protect investors’ funds and meet agreed returns, saying the credibility of Vision 2036 would ultimately be determined by execution.

However, the group’s projected revenues, asset valuation, planned listings and expansion targets will depend on its ability to secure financing, meet regulatory requirements and demonstrate sustainable commercial performance.