Leading wealth advisory firm, Afrinvest (West Africa) Limited, is set to unveil the 2015 edition of its annual ‘Nigerian Banking Sector Report’. This year’s event coincides with the 20th Anniversary Celebration of the firm.
In a statement released by the company, Managing Director, Ike Chioke, said, “We are pleased to announce that the 2015 Nigerian Banking Sector Report is set for launch on October 6, at the prestigious Oriental Hotel, Victoria Island, Lagos. The report is titled “Looking Ahead: Nigerian Banking in the Next Decade.”
Ike Chioke
Chioke noted, “For us at Afrinvest, this year’s launch is significant in more ways than one. Not only are we unveiling the 10th edition of the annual Banking Sector Report, we are also celebrating 20 years of the firm’s corporate existence.”
Afrinvest was founded in September 1995 as Securities Transactions & Trust Company Limited (“SecTrust”). SecTrust commenced trading as a research-focused brokerage and asset management firm and went on to pioneer the transformation of equities brokerage and investment advisory in Nigeria from an opaque, informal business into an industry that today employs hundreds of skilled professionals.
In 2005, SecTrust entered into a business combination with the Nigerian affiliate of Afrinvest (UK) Limited and renamed itself as Afrinvest (West Africa) Limited. Since then Afrinvest has become a household name in the Nigerian financial services and capital markets industry.
Some of the firm’s innovation and groundbreaking transactions, according to the Afrinvest boss are “The first ever Eurobond issue by a sub-Saharan Africa corporate outside South Africa – US$350.0m 5 year Eurobond by Guaranty Trust Bank Plc (2007); the first ever listing of Global Depositary Receipts by a sub-Saharan corporate – US$750.0mm issue by Guaranty Trust Bank Plc (2008); and Financial adviser and broker on the largest ever listing on the Nigerian Stock Exchange – ₦2.1 trillion listing of Dangote Cement Plc (2010).”
Others include “The 2012 restructuring/reorganization of United Bank for Africa Plc. from a bank holding company into a pure play commercial bank resulting in the spinoff of Afriland Properties Plc., African Prudential Registrars Plc. and United Capital Plc.; advisory to AMCON on the ₦126.6bn divestment of its 100.0% stake in Mainstreet Bank to Skye Bank Plc. (2014); and introduction of online, real-time trade execution on the Nigerian Stock Exchange via www.afrinvestor.com in 2014.”
Afrinvest Asset Management Limited is the fund manager to two NSE listed mutual funds - the Afrinvest Equity Fund (AEF) and the Nigerian International Debt Fund (NIDF), which was rated “A-” by Global Credit Rating Company in 2014. The company was also named ‘Best for Asset Management – Nigeria’ in the Wealth & Finance International magazine Finance Awards 2014.
The Nigerian Banking Sector Report has come to be recognized as the leading and most incisive report on Nigeria’s banking industry, and a valuable reference for local and international investors in the Nigerian economy.
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