VFD Group Eyes Pan-African Expansion After ₦50.67bn Rights Issue Boost

VFD Group has announced plans to deepen its footprint across Africa as it pursues a carefully structured expansion strategy aimed at boosting long-term shareholder value. The move comes shortly after the company successfully completed a ₦50.67 billion rights issue to support its growth ambitions.

Speaking at the company’s 10th Annual General Meeting (AGM) in Lagos, Group CEO Nonso Okpala said the expansion would be “calibrated and deliberate,” reflecting global economic uncertainty and the need for disciplined investment decisions. He stressed that only opportunities aligned with sustainable growth would be pursued.

According to management, the fresh capital will be strategically deployed to strengthen the company’s balance sheet, reduce debt exposure, and support expansion into key international markets, including the United Kingdom and Southern Africa. The group also plans to deepen investments in its existing subsidiaries while maintaining strong governance standards.

At the AGM, shareholders approved a final dividend of ₦0.25 per share for the 2025 financial year, reinforcing investor confidence in the company’s performance. Chairman Olatunde Busari (SAN) noted that VFD’s consistent dividend payments reflect strong risk management and a disciplined operating model since its listing on the NGX.

The company’s expansion drive is backed by solid financial results, with audited 2025 figures showing a pre-tax profit of ₦14.1 billion, up 41.52% year-on-year. Gross earnings rose to ₦88.35 billion, driven largely by strong investment income performance, positioning VFD Group for its next phase of growth despite broader macroeconomic pressures.