Afrigather Zedcrest, a Nigerian debt and fairness capital markets funding agency, has acquired the Nigerian arm of RMB Stockbrokers for a determine between ₦400 million and ₦420 million, in response to an individual acquainted with the proceedings.
The acquisition comes as Zedcrest appears to be like to broaden its companies and give its shoppers entry to Nigeria’s equity market, which gained 45% final yr (a 26% enhance from 2022) regardless of inflation, change charge challenges, and the delisting of main corporations. This development was spurred by authorities insurance policies and strong quarterly performances by corporations.
“RMB Nigeria Stockbrokers’ experience in stockbroking, when mixed with our complete monetary options, will allow us to ship even better worth to our shoppers,” Adedayo Amzat, the CEO of Zedcrest Group, mentioned. The acquisition will see RMB Nigeria Stockbroker Ltd rebrand as Zedcrest Securities.
In 2024, the market has remained resilient whilst international change volatility and a weakened enterprise setting have impacted client items. Within the first quarter, international traders withdrew extra money than they invested available in the market as Nigeria’s macroeconomic situations worsened from the earlier yr and reached a three-decade low.
“We’re excited in regards to the alternatives this acquisition presents and stay up for a promising future. We guarantee our shoppers that this transition can be seamless and that their pursuits stay our high precedence,” Layi Olaleru, CEO of RMB Nigeria Stockbrokers, mentioned.
