United Capital Plc on Monday said it has launched a N150 billion Infrastructure Fund, duly registered by the Securities and Exchange Commission, (SEC).
The company said the naira denominated United Capital Infrastructure Fund (UCIF) was “established to provide long-term financing for the delivery of critical infrastructure that would bridge the infrastructure deficits in Nigeria and sub-Saharan Africa.”
The UCIF will “finance bankable infrastructure assets that cut across sectors such as power and renewable energy, transportation, agribusiness and industrial infrastructure, healthcare, technology, mass housing, urban and social infrastructure.”
Speaking at the launch of UCIF, Mr. Peter Ashade, the Group Chief Executive Officer of United Capital Plc stated that “the journey to launch the Fund has taken almost two years, during which period extensive preparatory studies and appraisals were carried out to establish the business case for the Fund, as well as to define a model and governance framework that would provide investors that have an appetite for long-term financing products (such as pension funds and insurance companies), with sufficient confidence of the attractiveness of UCIF, as an investment opportunity.”
About United Capital Plc
United Capital Plc (previously called UBA Capital Plc) was incorporated in Nigeria, as a Public liability company, on 3 August, 2012, to act as the ultimate holding company for the United Capital Group.
The company was listed on the Nigerian Stock exchange on 17 January, 2013. The Company changed its name to United Capital Plc following the approval of the resolution by shareholders on the 16th December, 2014.
The principal activities of the Group are mainly the provision of investment banking services, portfolio management services, securities trading and trusteeship.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
