United Capital Group has acquired a five per cent equity stake in Nigerian Exchange Group Plc (NGX Group), strengthening its position within Nigeria’s capital market and reaffirming its commitment to the growth of the country’s financial ecosystem.
The leading pan-African investment banking and financial services group announced the completion of the transaction on Monday, describing the acquisition as a major milestone in its long-term growth and expansion strategy.
As the operator of Nigeria’s premier securities exchange, NGX Group plays a critical role in capital formation, market efficiency, and economic development. United Capital said its multimillion-naira investment reflects strong confidence in the future of the Nigerian capital market and the strategic direction of the exchange.
Commenting on the acquisition, the Group Chief Executive Officer of United Capital Group, Peter Ashade, said the investment demonstrates the company’s commitment to supporting the development of the nation’s financial markets.
“This acquisition reflects our confidence in Nigeria’s capital markets and our responsibility to contribute actively to their growth,” Ashade said.
“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.”
According to him, the transaction also represents a strong endorsement of the leadership and vision of NGX Group.
“It is our vote of confidence in the leadership and strategic direction of the NGX, and where the capital market is headed. This is our commitment to supporting them to get there,” he added.
Ashade noted that the investment aligns with United Capital’s broader objective of creating sustainable long-term value for shareholders while contributing to the advancement of the markets and economies in which it operates.
The acquisition comes as United Capital continues to expand its footprint across Africa. The group currently operates in 12 countries spanning West, East, and Central Africa, positioning it to facilitate cross-border investments and support capital formation across the continent.
United Capital offers a broad range of financial services, including investment banking, asset management, securities trading, wealth management, consumer finance, trusteeship, and microfinance banking.
The latest development follows a series of strategic achievements by the financial institution. According to regulatory filings, the group recently completed the recapitalisation of all its operating subsidiaries ahead of regulatory deadlines.
The company has also secured operational licences in Rwanda and Ethiopia, further advancing its pan-African expansion agenda. Its approval to operate in Ethiopia marks a significant milestone, making United Capital the first foreign investment bank licensed to conduct business in the East African country.
Industry analysts say the stake acquisition positions United Capital to play a more active role in shaping the future of Nigeria’s capital market while supporting NGX Group’s ongoing digital transformation and market development initiatives.
With the investment, United Capital has reinforced its commitment to the sustainable growth of Nigeria’s financial markets and strengthened its influence within one of the country’s most important economic institutions.
