United Capital acquires 5% stake in NGX Group

UNITED Capital Plc has acquired a 5 percent equity stake in the Nigerian Exchange Group (NGX Plc), strengthening its position within Nigeria’s capital market ecosystem.

The Pan-African investment banking and financial services group announced on Monday that the transaction had been successfully completed, describing the acquisition as a key milestone in its long-term growth strategy.

NGX Group serves as a critical component of Nigeria’s capital market infrastructure, facilitating capital formation, improving market efficiency and supporting economic development.

Commenting on the acquisition, Group Chief Executive Officer of United Capital, Mr Peter Ashade, said the investment reflects the company’s confidence in the future of Nigeria’s capital markets and its commitment to contributing to their development.

“This acquisition reflects our confidence in Nigeria’s capital markets and our responsibility to contribute to their growth actively,” Ashade said.

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“We have always said that United Capital is not just a participant in Nigeria’s capital markets; we are also builders. This strategic investment in NGX Plc is exactly that: we are building for impact.”

According to him, the transaction represents a vote of confidence in the leadership and strategic direction of the NGX and aligns with the company’s objective of creating long-term value for shareholders while supporting the growth of the broader financial ecosystem.

United Capital said the investment would position the group to play a more active role in the future evolution of Nigeria’s financial markets while reinforcing its commitment to institutions that promote market development, investor confidence and economic prosperity.

The company noted that its operations now span 12 countries across West, East and Central Africa, covering investment banking, asset management, securities trading and wealth management services.

The acquisition comes amid a series of strategic milestones for the group, including the recapitalisation of all its subsidiaries ahead of regulatory deadlines and the recent securing of operational licences in Ethiopia and Rwanda.

United Capital said the Ethiopian approval made it the first foreign investment bank licensed to operate in the country, further advancing its Pan-African expansion strategy.

Listed on the Nigerian Exchange in 2013, United Capital operates across multiple segments of the financial services industry, including investment banking, consumer finance, trusteeship, securities trading, asset management, wealth management and microfinance banking.

The company said its latest investment in NGX Group underscores commitment to supporting the sustainable growth of Nigeria’s capital market while participating in the next phase of the Exchange’s development.