United Capital acquires 5% stake in NGX

United Capital Group, a prominent Pan-African investment banking and financial services firm, has successfully acquired a 5% equity stake in the Nigerian Exchange Group (NGX Plc). This strategic acquisition marks a significant step in the Group's long-term expansion plans and demonstrates its confidence in the Nigerian capital market. The company announced the completion of the transaction in a regulatory filing on Monday. The investment in NGX Plc, described as a cornerstone of Nigeria's capital market infrastructure, underscores United Capital's commitment to actively contributing to the nation's economic development. Peter Ashade, CEO of United Capital Group, stated that the acquisition reflects the Group's belief in Nigeria's capital markets and its role as a builder within them. "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," Ashade said. He added that the investment is a vote of confidence in NGX's leadership and strategic direction. This acquisition follows a series of recent achievements for United Capital, including the successful recapitalization of its subsidiaries ahead of deadlines and obtaining operational licenses in Ethiopia and Rwanda. The Ethiopian license makes United Capital the first foreign investment bank authorized to operate in the country, further advancing its Pan-African ambitions.

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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.