United Capital Group has strengthened its foothold in Nigeria’s financial sector with the acquisition of a five per cent equity stake in the Nigerian Exchange Group (NGX Group), reaffirming its confidence in the future of the country’s capital market.
The pan-African investment banking and financial services firm disclosed the development on Monday, describing the acquisition as a strategic investment that aligns with its long-term growth objectives and commitment to supporting institutions that drive market development, investor confidence and economic growth.
Speaking on the acquisition, United Capital Group Chief Executive Officer, Peter Ashade, said the investment underscores the company’s belief in the growth prospects of Nigeria’s capital market and its determination to contribute meaningfully to its advancement.
According to Ashade, United Capital is not only a participant in the capital market but also a builder committed to supporting the continued growth and transformation of the Nigerian Exchange Group.
He noted that the acquisition is in line with the group’s goal of creating sustainable long-term value for shareholders while strengthening the broader financial ecosystem.
With operations spanning 12 countries across West, East and Central Africa, United Capital said its extensive presence in investment banking, asset management, securities trading and wealth management positions it to maximise the opportunities presented by the investment.
The company described NGX Group as a critical institution in Nigeria’s capital market ecosystem, playing a pivotal role in capital formation, market efficiency and economic growth. It added that the stake acquisition will enable it to participate more actively in the next phase of the exchange’s growth and transformation.
The development comes on the heels of several strategic milestones achieved by United Capital, including the re capitalisation of its subsidiaries ahead of regulatory deadlines and the acquisition of operational licences in Ethiopia and Rwanda.
Notably, the firm recently became the first foreign investment bank licensed to operate in Ethiopia, a move that further strengthens its pan-African expansion strategy and reinforces its ambition to drive financial inclusion and investment opportunities across the continent.
