United Capital committed to Nigeria’s infrastructure development – Ashade
By Kayode Ogunwale
Mr Peter Ashade, the Group Chief Executive Officer, United Capital Plc, says the company is well positioned to solve the country’s infrastructure deficit with the United Capital Infrastructure Fund (UCIF).
Ashade said this at a workshop with the theme: “Ushering the New Era of Savings/Investments through Digitial Transformation,” in Lagos recently.
The workshop was organised by the company for the Capital Market Correspondents Association of Nigeria (CAMCAN).
He said that the company’s N150 billion United Naira-denominated fund, was established to provide long-term financing for the delivery of critical infrastructure in the country.
Ashade said that the UCIF registered by the Securities and Exchange Commission, as a closed-ended fund with a N150 bilion issuance programme, would bridge the infrastructure deficits in Nigeria and sub-Saharan Africa.
He said that the fund would finance bankable infrastructure assets that cut across sectors such as power and renewable energy, transportation, agribusiness and industrial infrastructure, among others.
“Despite the volatile environment, the organisation has continued to thrive. United Capital is a major player and is always ready to take advantage of opportunities it sees across all its business lines,” he said.
Speaking on the theme, Ashade stressed the need for the country to leverage digital technology to boost financial inclusion.
He said that the country would continue to embrace digital solutions to ensure efficient service deliveries to all its teeming customers.
Ashade noted that evolution of financial services in Nigeria occasioned by technology had made banks to be stronger from 89 banks to 24 banks.
Also speaking, Mr Ejike Okoli, the Group Head, Strategy & Innovation, United Capital Plc, said that the Nigerian financial system had been instrumental to the growth of the economy.
Okoli who stressed the need for digital transformation said that technology makes it easier for entities and individuals to collaborate.
Mr Bawo Oritsejafor, the Managing Director/ Chief Executive Officer, United Capital Securities, noted that the Nigerian equities market had evolved overtime from manual trading to digital.
Oritsejafor said that the digital transformation made investors to have more confidence in the market unlike in the past.
He noted that at the United Capital Securities, technology has been embraced and with it’s digital application, InvestNow, investors can monitor their investments real time and have constant interaction with their broker who gives daily report on activities on the stock market.
Oritsejafor added that with the introduction of digital trading, the younger generation are being wooed to invest in the equities market as there are massive opportunities to make wealth from stocks trading.
According to him, capital market investment has been proven to be the only asset that can outpace inflation.
He noted that in response to demand and to further deepen the nation’s capital market, United Capital has diverse digital solutions that encourages savings, investments, wealth creation, among others, across diverse asset classes for individuals, corporates and governments.
United Capital is a financial services group with activities that span investment banking, asset management, securities trading, trustees, wealth management and consumer finance.