Yemisi Izuora
In a bid to reposition for infrastructure opportunities in Nigeria and across Africa, the Board of Directors of United Capital Plc has announced the appointments of four highly experienced, infrastructure investment experts as independent members of the investment Committee of the United Capital Infrastructure Fund (UCIF).
With investments in power, industrial recycling and renewable energy, UCIF continues to deliver superior results, achieving a year-to-date gross return of 24.62%. The appointments have been confirmed following the ratification and clearance by the Securities and Exchange Commission.Commenting on the announcement, Mr Peter Ashade, the Group Chief Executive Officer of United Capital Plc, said:
“These appointments were made to further deepen the Fund’s governance and
ensure that UCIF continues to drive sustainable impact through its investments. I welcome the newly appointed members of the Investment Committee and
charge them to ensure sustainable growth and impact, while delivering consistent value to our investors.”
The appointees bring fresh perspectives, multinational exposure, and decades of multi-sector experience across infrastructure and investments. The appointees are:
De Buys Scott appointed as Chairman. Other independent members are
Olubunmi Akinremi, Bola Bamidele and Obinna Ufudo. They join other members of the Investment Committee who are Odiri Oginni, UcheNna Mkparu and Adeyinka Jafojo. Mr Samuel Nwanze has exited the Investment Committee, following the completion of his tenure. United Capital Group expresses its profound gratitude to Samuel Nwanze for the wealth of his insights and contributions to rigorous investing processes during his tenure.
Also commenting on the announcement, UcheNna Mkparu, Chief Investment
Officer and Fund Manager at UCIF, said:
“We are delighted to welcome the new members to the Investment Committee
and would be counting on their track record, wealth of experience across multiple jurisdictions and impeccable professional reputations to steer UCIF’s strategic direction as we scale investments that deliver competitive returns across Nigeria and Africa.”
Investment Committee Member Profiles De Buys Scott – Independent Member & Chairman De Buys is the Managing Partner at Cornerstone Infrastructure Advisors and former Senior Partner, Infrastructure at KPMG (South Africa). He is a qualified Chartered Accountant with vast African and International experience specializing in PublicPrivate-Partnerships (PPP); Corporate & Project Finance; Capital-raising in various sectors including transportation, passenger rail, healthcare, and mixed-use real estate.
Olubunmi Akinremi – Independent Member Bunmi is the CEO of Tocam Capital, a Project Development firm focussed on natural resources and associated infrastructure. He has over 30 years’ experience in investment banking and corporate finance across Nigeria, USA, and the UK and has raised over $5 billion for the Nigerian market. He served as Senior Special Adviser to two past Nigerian Presidents on economic policy and has held NonExecutive Director and Audit Committee roles for companies in the financial services and real estate sectors. He holds a B.A. in Economics from the University of Essex, an MBA from Cranfield University and is an Associate member of the Institute of
Chartered Accountants in England and Wales.
Bola Bamidele – Independent Member
Bola, until her retirement from the World Bank Group after nearly 25 years, was the Sub-Saharan Africa Regional Lead, Transaction Advisory & Equity Mobilization at the International Finance Corporation (IFC). Bola is experienced in originating and structuring impact investments and has working experience in Sub-Sahara Africa, Latin America, Asia and Europe. She is also skilled in International Business, M&A Advisory, Infrastructure, Structured & Project Finance.