Zedcrest, a prominent debt and equity capital markets investment firm, has successfully acquired the Nigerian branch of RMB Stockbrokers. The transaction, valued between ?400 million and ?420 million, marks a strategic expansion for Zedcrest in the countrys burgeoning equity market.
This acquisition comes at a time when Nigerias equity market has shown remarkable resilience and growth. Despite challenges such as inflation and exchange rate volatility, the market experienced a 45 gain in the previous year, surpassing 2022s performance by 26. This impressive growth can be attributed to favorable government policies and strong quarterly performances by listed companies.
The deal is set to enhance Zedcrests service offerings, providing its clients with direct access to Nigerias thriving equity market. Adedayo Amzat, CEO of Zedcrest Group, emphasized the synergistic potential of the acquisition, stating that RMB Nigeria Stockbrokers expertise in stockbroking, combined with Zedcrests comprehensive financial solutions, will create greater value for their clientele.
As part of the acquisition, RMB Nigeria Stockbroker Ltd will undergo a rebranding process, emerging as Zedcrest Securities. This name change reflects the integration of the acquired entity into Zedcrests existing operations and brand identity.
The Nigerian equity markets performance in 2024 has remained strong, despite ongoing challenges in the broader economic landscape. Foreign exchange volatility and a weakened business environment have impacted various sectors, particularly consumer goods. However, the market has demonstrated its ability to weather these storms and continue its upward trajectory.
