Alpha10 Group Launches ₦500m Halal Fund for Ethical Investing

Alpha10 Group officially launched a ₦500 million Halal Fund on Wednesday in Abuja, designed to deepen ethical investment options and boost financial inclusion in Nigeria. Abigail Utomi, Managing Director of Alpha10 Group, described the Halal Fund as a strategic milestone for the company's growth and product diversification.

The fund aims to address the capital allocation gap in underserved segments of the Nigerian economy. Utomi emphasized that the fund reflects market realities and investor preferences, particularly within the ethical finance space.

The Securities and Exchange Commission has licensed the firm to manage the fund, which will offer portfolio management and advisory services. Chibuzo Ekwekwuo, Chairman of the Board of Directors, stressed the need for the financial services industry to move beyond serving narrow segments of the population.

Moham Umar, Independent Non-Executive Director, noted that access to formal investment products in Nigeria has historically favored middle and upper-income participants. The Halal Fund is expected to begin serving investors seeking Sharia-compliant, non-interest options, contributing to the growth of Nigeria's alternative investment market.