By Boluwatife Oshadiya| June 16, 2026
Key Points
- United Capital has acquired a five per cent equity stake in NGX Group
- The investment strengthens the firm’s position within Nigeria’s capital market ecosystem
- The move follows the company’s recent expansion into Ethiopia and Rwanda
Main Story
United Capital Plc has acquired a five per cent equity stake in Nigerian Exchange Group (NGX Group), deepening its presence in Nigeria’s capital market and reinforcing its long-term growth strategy.
The pan-African investment banking and financial services group disclosed the acquisition in a statement on Monday, describing the investment as a strategic move aimed at supporting market development, investor confidence and economic growth.
The acquisition comes as NGX Group continues to strengthen its position as the operator of Nigeria’s premier securities exchange, while broadening its offerings across trading, regulation, technology and market infrastructure.
United Capital said the investment aligns with its objective of creating sustainable value for shareholders while contributing to the development of Nigeria’s financial ecosystem.
The firm currently operates across 12 African countries and maintains businesses in investment banking, asset management, securities trading and wealth management. The company noted that its growing continental footprint places it in a strong position to benefit from NGX Group’s future growth initiatives.
The transaction also follows a series of strategic milestones by the company, including regulatory recapitalisation efforts and the acquisition of operating licences in Ethiopia and Rwanda. United Capital recently became the first foreign investment bank licensed to operate in Ethiopia, one of Africa’s largest untapped financial markets.
What’s Being Said
“This acquisition reflects our confidence in Nigeria’s capital markets and our responsibility to contribute actively to their growth. We have always said that United Capital is not just a participant in Nigeria’s capital markets; we are also builders,” said Peter Ashade, Group Chief Executive Officer, United Capital Plc.
Market analysts note that institutional investments in NGX Group by leading financial services firms could strengthen confidence in the exchange’s long-term transformation agenda and support liquidity growth in Nigeria’s capital market.
What’s Next
- NGX Group is expected to continue implementing strategic initiatives aimed at improving market efficiency and attracting new listings.
- Investors will monitor whether additional institutional shareholders increase their holdings in the exchange.
- United Capital is expected to advance its pan-African expansion strategy, particularly in East Africa following its regulatory approvals in Ethiopia and Rwanda.
The Bottom Line:
United Capital’s acquisition signals growing institutional confidence in Nigeria’s capital market infrastructure. The investment positions the firm to benefit from future market expansion while reinforcing NGX Group’s role as a central driver of capital formation and economic growth.
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