United Capital Acquires 5% Stake in NGX Group, Signals Strong Confidence in Nigeria’s Capital Market
United Capital Group has strengthened its foothold in Nigeria’s financial sector after acquiring a 5 percent equity stake in the Nigerian Exchange Group (NGX) Plc. The strategic investment underscores the company’s growing confidence in the future of Nigeria’s capital market and its commitment to supporting institutions that drive economic growth and investor participation.
Announcing the acquisition on Monday, the investment banking and financial services firm described NGX Group as one of the most critical pillars of Nigeria’s financial system. According to the company, the investment reflects its belief in the long-term potential of the Nigerian capital market and its role in fostering economic development, market stability, and wealth creation.
Speaking on the development, United Capital’s Group Chief Executive Officer, Peter Ashade, said the acquisition aligns with the company’s broader vision of creating sustainable value while actively contributing to the growth of the financial ecosystem. He noted that United Capital sees itself not only as a participant in the capital market but also as a key contributor to building and strengthening market institutions.
Ashade further described the investment as a strong endorsement of NGX Group’s leadership and strategic direction. He said the move would allow United Capital to play a more active role in supporting the exchange’s growth while positioning the company to benefit from emerging opportunities within Nigeria’s evolving financial landscape.
The acquisition comes as United Capital continues to expand its footprint across Africa. The firm recently completed the recapitalisation of its subsidiaries ahead of regulatory deadlines and secured operational licences in Ethiopia and Rwanda. Notably, the Ethiopian approval makes United Capital the first foreign investment bank licensed to operate in the country. The company currently operates in 12 countries across West, East, and Central Africa, offering services that include investment banking, asset management, securities trading, and wealth management.
source: The cable