United Capital Group has announced its acquisition of a 5% stake in Nigeria Exchange Group (NGX Plc), a move that solidifies its position as a significant shareholder in one of Nigeria’s major financial market institutions.
This milestone was revealed in a statement on Monday, June 15, 2026, by Dr. Leo Okafor, the Group General Counsel and Company Secretary. The transaction is part of United Capital’s long-term growth strategy and underscores its commitment to the development of Nigeria’s capital markets.
Investment Signifies Confidence in Nigerian Capital Markets
The investment reflects United Capital’s strong belief in the future potential of Nigeria’s capital markets and its intention to play a proactive role in fostering growth within the sector. The recent acquisition emphasizes the group’s status as a vital contributor rather than a passive participant in the evolving financial landscape.
Peter Ashed, the Group Chief Executive Officer, stated that the acquisition serves as a clear endorsement of NGX’s strategic direction and leadership. He expressed confidence in the Nigerian capital market and highlighted United Capital’s ongoing commitment to enhancing its development.
Strategic Goals and Long-Term Value Creation
Ashed noted that this investment aligns with United Capital’s objective of delivering sustainable long-term value to its shareholders while simultaneously supporting the broader financial ecosystem. By investing in NGX Plc, the group aims to create a lasting impact that accelerates the growth of the capital market.
The Nigeria Exchange Group plays a crucial role in the country’s capital market infrastructure, providing a platform for capital formation and investment activity. United Capital’s acquisition demonstrates its unwavering confidence in the long-term prospects of Nigeria’s capital landscape and its commitment to institutions that stimulate market development, bolster investor confidence, and promote economic growth.
Expansion Efforts Across Africa
Operating in 12 countries across West, East, and Central Africa, United Capital offers services in investment banking, asset management, securities trading, and wealth management. The group is strategically positioned to leverage its investments for the benefit not only of itself but also of the wider market.
The acquisition of a stake in NGX Plc comes on the heels of United Capital securing investment banking licenses in Ethiopia and Rwanda, which further enhances its pan-African expansion strategy. Notably, it has become the first foreign institution authorized to provide investment banking services in Ethiopia, thereby contributing significantly to the country’s emerging capital markets ecosystem.
This new license empowers United Capital to offer financial advisory services, securities broking, and portfolio management in Ethiopia, marking a significant milestone for both the group and the local markets.
