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🇳🇬 Nigeria /Economy & Trade

United Capital Acquires 5% Stake In NGX Group

From ThisDay · () English

Summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • United Capital Group acquired a 5% equity stake in the Nigerian Exchange Group (NGX Plc).
  • The acquisition is a significant milestone in the Group's long-term growth strategy and reflects confidence in Nigeria's capital markets.
  • United Capital aims to actively contribute to the growth of Nigeria's capital markets as builders, not just participants.

United Capital Group has successfully acquired a 5% equity stake in the Nigerian Exchange Group (NGX Plc), a pivotal institution within Nigeria's financial system. This strategic acquisition marks a significant milestone in the Group's long-term growth strategy, underscoring its commitment to the nation's capital markets.

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.

— Peter AshadeExplaining the strategic rationale behind the acquisition of NGX Plc

Group Chief Executive Officer of United Capital Group, Peter Ashade, stated that the investment reflects the company's confidence in Nigeria's capital markets and its dedication to actively contributing to their expansion. He emphasized United Capital's role as not merely a participant but also a builder within these markets.

"This strategic investment in NGX Plc is exactly that: we are building for impact," Ashade said. "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 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.

— Peter AshadeFurther elaborating on the company's commitment to market development

The acquisition aligns 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 it operates. The company views this investment as a concrete step in supporting the NGX's trajectory and the overall development of the capital market.

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.

— Peter AshadeConnecting the investment to the company's overall strategic goals
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Originally published by ThisDay. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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