United Capital Group, a leading Pan-African investment banking and financial services group, has completed the acquisition of a 5 per cent equity stake in the Nigerian Exchange Group (NGX Plc).
The transaction was successfully concluded, marking a significant milestone in the Group’s long-term growth strategy, the company stated in a regulatory filing on Monday.
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The acquisition secures a significant ownership stake for the Group in the capital market platform, NGX.
This development follows a series of 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.
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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, the statement noted.
Acquisition
The financial services group said NGX serves as a cornerstone of Nigeria’s capital market infrastructure and plays a critical role in advancing the nation’s economic development objectives.
Speaking on the development, the Chief Executive Officer of United Capital Group, Peter Ashade, said the acquisition reflects the Group’s confidence in Nigeria’s capital markets and its commitment to actively contributing to their growth.
“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 NGX, where the capital market is headed, and our commitment to supporting the Exchange in achieving its goals.
“This strategic investment is consistent with United Capital’s broader vision of creating sustainable, long-term value for its shareholders while playing an active role in advancing the ecosystems in which we operate,” Mr Ashade said.
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United Capital’s equity investment in NGX Plc reflects its confidence in the future of the Nigerian capital market. It underscores its commitment to supporting the institutions that drive market development, investor confidence, and economic prosperity.
It also positions the Group to contribute meaningfully to the future evolution of Nigeria’s financial ecosystem, the company stated.
United Capital has a growing footprint across 12 countries in West, East, and Central Africa, alongside a full-service suite covering investment banking, asset management, securities trading, and wealth management.
The group said it is uniquely positioned to leverage this equity stake in ways that benefit both the company and the wider market.
According to the company, NGX Group plays a pivotal role in facilitating capital allocation, enhancing market efficiency, and supporting economic growth by enabling capital formation and market development.
Through this strategic investment, United Capital aims to reinforce its commitment to the sustainable growth of the market while positioning itself to participate in, and contribute to, the next phase of the Exchange’s evolution.
