United Capital Group, which recently made history by entering Ethiopia’s financial sector as the country’s first foreign investment bank, has announced the acquisition of a 5 percent equity stake in the Nigerian Exchange Group (NGX Plc), a leading institution at the heart of Nigeria’s financial system.
The successful conclusion of this transaction is being hailed as a major milestone that reinforces the Group’s long-term continental growth strategy. As a cornerstone of Nigeria’s capital market infrastructure, the Nigerian Exchange Group plays a pivotal role in driving the nation’s economic development objectives.
United Capital’s equity investment reflects its deep confidence in the future of the Nigerian capital market and underscores its commitment to supporting institutions that drive market development, investor confidence, and economic prosperity.
Speaking on the development, Peter Ashade, CEO of 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.”
The Group CEO added that the investment is fully aligned with United Capital’s broader vision to create sustainable, long-term value for its shareholders while playing an active role in advancing the financial ecosystems in which it operates.
Currently expanding its footprint across 12 African countries, including Ethiopia, United Capital Group is a pan-African financial services provider offering a full suite of services across investment banking, asset management, and securities trading.
