United Capital Plc Buys 5% Stake in NGX Group

United Capital Group has completed the acquisition of a 5% equity stake in Nigerian Exchange Group (NGX Plc), according to a corporate action filing dated June 15, 2026. The transaction has been concluded, and the Group describes it as a significant milestone in its long-term growth strategy.

Group CEO Peter Ashade stated that the investment reflects United Capital's confidence in Nigeria's capital markets and its self-described role as a builder of market infrastructure, not merely a participant. The Group operates across 12 countries in West, East, and Central Africa, offering investment banking, asset management, securities trading, and wealth management services.

The filing notes that this development follows several other recent strategic milestones, including the recapitalisation of all subsidiaries ahead of regulatory deadlines and the acquisition of operational licences in Ethiopia and Rwanda. The Ethiopian licence reportedly makes United Capital the first foreign investment bank licensed to operate in that country.

United Capital was listed on the Nigerian Exchange on January 17, 2013, and describes itself as the first investment bank to be listed on the Exchange. The Group's subsidiaries span investment banking, consumer finance, trusteeship, securities trading, asset management, wealth management, and microfinance banking.