Investment company VFD Group has secured a 5% stake in the Nigerian Exchange Group (NGX).
With this acquisition, VFD has become one of the major stakeholders of the Nigerian bourse.
Commenting on this development, the Managing Director (MD) of VFD Group, Nonso Okpala said he’s delighted at the acquisition, adding that NGX has offerings that position it for growth.
His words: “our investment in the pioneer exchange company of Nigeria is a strategic play in our ecosystem build, that ensures we are driving global prosperity by investing in businesses that have potential, helping them maximise their potential and supporting the platform that can help portray them to the world.
“Our investment in the NGX Group as the exchange company of choice is due to the wide range of services offered and how they are positioned for growth.
“Our interest in the NGX, is borne out of our desire to be a key player within the exchange business in Nigeria, contribute to the deepening of the Nigerian capital market and be a catalyst for capital formation within the Nigerian economy.
“With over a decade of operations, VFD Group has carved a niche for itself with over N50 billion in equities invested in over 40 businesses without bias for sector or geography and we believe that our stake in the NGX will improve investor confidence in our country, drive capital appreciation and diversify our asset class.”
Founded in 2009, VFD Group’s business model allows it to operate in major sectors of the economy through its portfolio businesses, providing Financial Advisory, Asset Management, Real Estate, Technology, Debt, and Private Funds Management Services, Hospitality, Insurance Brokerage, and Media, identifying solution-driven, consumer-centric businesses with growth and economic potential.
It also goes a step further by providing investee companies with the required resources and guidance needed to maximise potential.
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