TUE JUNE 16 2026-theGBJournal| United Capital Group has stepped up its aggressive expansion strategy with the acquisition of a 5% equity stake in Nigerian Exchange Group Plc, reinforcing its influence over one of the pillars of Nigeria’s capital markets as the pan-African financial services firm broadens its footprint across the continent.
The latest investment comes amid a wave of expansion initiatives by the Lagos-based investment bank, which has recently entered Ethiopia and Rwanda as part of its push to build a stronger presence in Africa’s fast-growing financial markets.
”The transaction has been successfully concluded, marking a significant
milestone in the Group’s long-term growth strategy,” the Group said on Monday, as it strengthens its strategic alignment with Nigeria’s financial infrastructure while enhancing its ability to capitalize on rising cross-border investment opportunities.
The Nigerian Exchange Group serves as a cornerstone of Nigeria’s capital market infrastructure and plays a critical role in advancing the nation’s economic development objectives.
United Capital said in a statement that the equity investment in NGX Plc reflects its confidence in the future of the Nigerian capital market and underscores its commitment to supporting the institutions that drive market development, investor confidence, and economic prosperity.
It also positions the Group to contribute meaningfully to the future evolution of Nigeria’s financial ecosystem.
Speaking on the development, Peter Ashade, Group Chief Executive Officer, United Capital Group, noted that the acquisition reflects the company’s confidence in Nigeria’s capital markets as well as it 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. It is our vote
of confidence in the leadership and strategic direction of the NGX, and where the capital market is headed, and this is our commitment to supporting them to get there.
This strategic investment is consistent with United Capital’s broader vision: to create sustainable, long-term value for its shareholders while playing an active role in advancing the ecosystems in which we operate.”
With a growing footprint across 12 countries across West, East, and Central Africa, along with a full-service suite covering investment banking, asset management, securities trading, and wealth management, United Capital is uniquely positioned to leverage this equity stake in ways that benefit both the Group and the wider market.
As a core institution within Nigeria’s capital market ecosystem, the Nigerian Exchange Group plays a pivotal role in facilitating capital allocation, enhancing market efficiency, and supporting economic growth as a critical enabler of capital formation and market development.
Through this strategic investment, United Capital is
reinforcing its commitment to the sustainable growth of the market and positioning itself to participate in, and contribute to, the next phase of the Exchange’s evolution.
This development follows a series of significant strategic milestones for the Group, including the successful recapitalisation of all its subsidiaries well ahead of regulatory deadlines and the recent acquisition of operational licences in Ethiopia and Rwanda.
Notably, the Ethiopian approval positions United Capital as the first foreign investment bank licensed to operate in the country, further advancing the Group’s Pan-African growth strategy.
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