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By Chinwendu Obienyi
Leading African financial services holding company, Coronation Group Limited, said it has obtained a Capital Market Holding Company (CMHC) license from the Securities and Exchange Commission (SEC) to intermediate in the market.
The company said this will elevate its group structure and solidify its position as an investment management power-house in the African region.
Speaking during the Investiture/Closing bell ceremony hosted by the Chartered Institute of Stockbrokers (CIS) and the Nigerian Exchange Limited (NGX) in Lagos on Wednesday, the Chairman, Coronation Group, Aigboje Aig-Imoukhuede, said, that the transition marks the group’s first five years of orchestrating its ecosystem.
He revealed that Coronation group was established with the objective of democratizing access to investment, lending, and insurance, empowering individuals to achieve financial independence and build enduring legacies.
Aig-Imoukhuede, while commending the Securities and Exchange Commission (SEC) for granting the company a Capital Market Holding Company (CMHC) license, stated that this will solidify its position as an investment management powerhouse in the African region.
He also revealed that the company wants to extend from banking into insurance, investment management, technology, venture-building – that type of entrepreneurship and innovation spirit that seems to be around the things that it does.
“I think that we have seen a few signs over the past two weeks that a big turnaround is about to take place in our nation. I believe that we have the nation of institutions within the financial services community that will provide the platform for this revolution that is about to take place in our economy and our lives to truly happen in an irreversible manner. Nigeria is once again open for business.
We are excited about the future and our role as a key driver of growth in Africa. Our culture of innovation and excellence drives us to deliver world-class experiences to our clients. By delivering transformational solutions at scale, we are strategically positioned to address several of Africa’s unique challenges.”, Aig-Imoukhuede said. Also speaking, the Chief Executive Officer, Coronation Group, Wole Onasanya, stated that the group’s primary objective was to make wealth creation accessible to all Africans, while adding that Coronation Group is well-positioned to offer integrated financial services backed by exceptional talent, all accessible through cutting-edge technology platforms.
He said, “We are dedicated to being trusted partners on our clients’ journeys to prosperity, helping them achieve outcomes that go beyond financial returns”.
Commending the group’s regulatory recognition, the Nigerian Exchange Limited (NGX) said this is a start of another exciting chapter for the barometer of Nigeria’s economy- the capital market.
For his part, the CIS President, Oluwole Adeosun, expressed confidence that the group will spark a big bang of collaboration and competition within Nigeria’s financial system resulting in the emergence of Africa’s own Blackrocks and Berkshire Hathaway’s homegrown institutions with the capacity to solve the continent’s unique challenges.
