Zedcrest Acquires RMB Nigeria Stockbrokers Ltd in a Deal Worth About ₦400M

Zedcrest-acquires-rmb-nigeria-stockbrokers-ltd-in-a-deal-worth-about-₦400m

What’s this about?

  • Zedcrest has acquired RMB Nigeria Stockbrokers Ltd for between ₦400 million and ₦420 million to expand its services and provide clients access to Nigeria’s equity market, which saw a 45% gain last year.
  • The acquisition, which will rebrand RMB Nigeria Stockbrokers Ltd as Zedcrest Securities, aims to combine stockbroking expertise with Zedcrest’s financial solutions to enhance client value.
  • Despite Nigeria’s challenging macroeconomic conditions, Zedcrest is optimistic about the acquisition, assuring clients of a seamless transition and continued prioritization of their interests.

Zoom in…

Zedcrest, a Nigerian debt and equity capital markets investment firm, has acquired the Nigerian arm of RMB Stockbrokers for a figure between ₦400 million and ₦420 million, according to a person familiar with the proceedings. 

The acquisition comes as Zedcrest looks to expand its services and give its clients access to Nigeria’s equity market, which gained 45% last year (a 26% increase from 2022) despite inflation, exchange rate challenges, and the delisting of major companies. This growth was spurred by government policies and strong quarterly performances by companies.

In 2024, the market has remained resilient even as foreign exchange volatility and a weakened business environment have impacted consumer goods. In the first quarter, foreign investors withdrew more money than they invested in the market as Nigeria’s macroeconomic conditions worsened from the previous year and reached a three-decade low.

What they’re saying…

RMB Nigeria Stockbrokers’ expertise in stockbroking, when combined with our comprehensive financial solutions, will enable us to deliver even greater value to our clients,” Adedayo Amzat, the CEO of Zedcrest Group, said. The acquisition will see RMB Nigeria Stockbroker Ltd rebrand as Zedcrest Securities.

We are excited about the opportunities this acquisition presents and look forward to a promising future. We assure our clients that this transition will be seamless and that their interests remain our top priority,” Layi Olaleru, CEO of RMB Nigeria Stockbrokers, said.

Source: techcabal.com

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