United Capital Group has acquired a 5% equity stake in the Nigerian Exchange Group (NGX Plc), securing a significant ownership in the cornerstone of Nigeria’s capital market infrastructure.
This development follows a series of significant strategic milestones for the Group, including the successful recapitalisation of all its subsidiaries well ahead of regulatory deadlines and the recent acquisition of operational licences in Ethiopia and Rwanda.
Notably, the Ethiopian approval positions United Capital as the first foreign investment bank licensed to operate in the country, further advancing the Group’s Pan-African growth strategy.
Speaking on the development, Peter Ashade, Group Chief Executive Officer, United Capital Group, stated: “This acquisition reflects our confidence in Nigeria’s capital markets and our responsibility to contribute to their growth actively. 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. It is our vote of confidence in the leadership and strategic direction of the NGX, and where the capital market is headed, and this is our commitment to supporting them to get there.
“This strategic investment is consistent with United Capital’s broader vision: to create sustainable, long-term value for its shareholders while playing an active role in advancing the ecosystems in which we operate.”
With a growing footprint across 12 countries across West, East, and Central Africa, along with a full-service suite covering investment banking, asset management, securities trading, and wealth management, United Capital is uniquely positioned to leverage this equity stake in ways that benefit both the Group and the wider market.
Through this strategic investment, United Capital is reinforcing its commitment to the sustainable growth of the market and positioning itself to participate in, and contribute to, the next phase of the Exchange’s evolution.
