Business

Otedola speaks on FirstHoldCo’s inclusion in FTSE Frontier 50 Index

Published

57 minutes ago

September 8, 2026

Preport

The Chairman of First HoldCo Plc, Femi Otedola, has described the company’s inclusion in the FTSE Frontier 50 Index as a “defining milestone” in the evolution of the financial services group.

FirstHoldCo is scheduled to join the FTSE Frontier 50 Index, a benchmark tracking leading and investable companies across frontier markets, effective 21 September 2026.

The inclusion places FirstHoldCo among six Nigerian companies represented in the index. It is expected to strengthen its visibility among global institutional investors seeking exposure to Nigeria and other frontier markets.

Mr Otedola, in a statement issued on Monday, said the development affirmed the transformation the company is undertaking and the confidence investors continue to place in the institution.

“Our inclusion in the FTSE Frontier 50 Index is a defining milestone in FirstHoldCo’s evolution.

“It affirms the transformation we are driving, the confidence investors continue to place in our institution, and the strength of our governance and business model.

“We remain focused on building a stronger, more profitable and globally competitive financial services group, while delivering superior and sustainable value to shareholders,” he said.

The FTSE Frontier 50 Index comprises companies that meet stringent requirements relating to market capitalisation, liquidity, free float, governance and investability.

FirstHoldCo said its inclusion followed a period of strong market performance and sustained investor interest, supported by improved financial results, strategic execution, enhanced governance and its focus on long-term shareholder value.

The company said the development was more than an index listing, describing it as an independent recognition of its scale, governance standards, market depth and long-term value proposition.

It said the inclusion could also lead to deeper liquidity, increased participation by institutional investors and greater access to global capital.

Asset managers, exchange-traded funds, pension funds, and other investors that track frontier-market opportunities are expected to take a greater interest in the company as a result of its inclusion in the index.

The development comes after FirstHoldCo said it had met the Central Bank of Nigeria’s minimum capital requirement.

The group said it remained focused on strengthening its capital base, improving financial resilience and creating capacity for accelerated growth.

Its strengthened balance sheet, expanding shareholder base and focus on disciplined execution, it said, would enable it to compete at a greater scale across its businesses.

The Group Managing Director of FirstHoldCo, Wale Oyedeji, said the achievement reflected the commitment and execution of the company’s board, management and employees.

READ ALSO: FirstHoldco, Dangote, four other Nigerian companies admitted to FTSE’s 50 most liquid frontier market stocks

“This achievement reflects the discipline, commitment and execution focus of our Board, Management and employees.

“It validates the progress we have made in strengthening performance, enhancing operations and positioning FirstHoldCo for sustainable growth,” Mr Oyedeji said.

According to him, the inclusion would elevate the company’s visibility among global institutional investors and reinforce its ambition to become a leading African financial services provider.

FirstHoldCo said it would continue to invest in digital transformation, customer experience, innovation and responsible business practices while maintaining its focus on sustainable growth and stakeholder value.

The company also said its emphasis on environmental, social and governance principles, workplace excellence and operational efficiency would further strengthen institutional confidence in the group.

With global investors becoming increasingly selective in allocating capital to frontier markets, FirstHoldCo said its inclusion in the index represented a significant recognition of its fundamentals, governance credentials, liquidity and growth trajectory.

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Related Topics:FirstHoldCos Frontier FTSE INCLUSION Index Otedola speaks

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Business

SanlamAllianz Nigeria Unveils Proud Moments 2.0 Campaign to Celebrate Customers’ Life Achievements

Published

9 hours ago

September 7, 2026

Preport

SanlamAllianz Nigeria, comprising SanlamAllianz Life Insurance Nigeria and its subsidiary, SanlamAllianz General Insurance Nigeria, has announced the launch of its Proud Moments 2.0 campaign, an initiative designed to celebrate personal journeys, milestones, achievements, and everything that makes a person proud.

The campaign marks a refreshing shift from the traditional fear-based approach or uncertainty to insurance, reframing the narrative through positivity and the recognition of life’s hard-earned achievements.

Built around the powerful proposition, “You’ve Earned It. Celebrate It”, the Proud Moments 2.0 campaign shines light on not just one person’s successes, but also on the invaluable support systems: parents, grandparents, teachers, neighbors, mentors, friends and loved ones; all who helped make those dreams come true. From starting a business, purchasing a first car or home, to achieving educational milestones, building a family or overcoming personal challenges, the campaign recognizes that success means something different to each person.

“At SanlamAllianz Nigeria, we strongly believe that insurance should not be viewed merely as a response to what could go wrong, but as an empowering enabler that recognizes, celebrates and provides people with the confidence, financial security and peace to enjoy what they have worked hard to achieve and continue towards life’s next chapters,” Chris Ekwonwa, Group Head, Strategy, Marketing and Customer Relations, SanlamAllianz Nigeria.

“This is why we are launching our Proud Moments 2.0 campaign, to remind the market that we are not just in the business of providing insurance solutions; but also recognize that every achievement, big or little, is a proud moment worth celebrating,” he concluded.”

The campaign, which will run for upwards of eight weeks across digital platforms, includes a socials-only call for nominations of trending and emotional true-life events, with clear positive denouements; a national radio campaign and product advertising on select digital platforms.

Also, Bankole Banjo, Marketing and Corporate Communications Manager, SanlamAllianz Nigeria, said: “We want authentic Nigerian stories, published on socials, and with a life-changing outcome. We will select the most resonant and the main character of that story will enjoy an all-expense paid trip to watch the 2026 Youth Olympics in Dakar courtesy of SanlamAllianz Nigeria. Details are as shared across our various platforms.”

Recall that SanlamAllianz Life Insurance Nigeria Limited and its subsidiary, SanlamAllianz General Insurance Nigeria Limited, were amongst insurers who made the list of recapitalized companies as released by the National Insurance Commission, (NAICOM).

The Proud Moments 2.0 campaign further reaffirms their solid financial base, continuous commitment to insurance education and customer appreciation across various economic strata of the Nigerian market.

About SanlamAllianz Nigeria

Formed as a merger of Sanlam, Africa’s biggest non-banking financial services firm and Allianz, easily the world’s most recognizable insurance brand in a JV across 28 countries on the continent, SanlamAllianzhas become the clear leader in the non-banking financial services industry in Africa with strong commitments to be top two in every market in which they operate. Consummated in Nigeria as SanlamAllianz Nigeria (comprising SanlamAllianz Life Insurance and SanlamAllianz General Insurance) in June 2025, the brand has continued to flourish with presence in more that 30 states of the Federation and is widely regarded as one of the foremost insurance companies in the country.

The post SanlamAllianz Nigeria Unveils Proud Moments 2.0 Campaign to Celebrate Customers’ Life Achievements appeared first on Business Today NG.

Business

BREAKING: Dangote Refinery sets minimum subscription for $1.6 billion IPO

Published

17 hours ago

September 7, 2026

Preport

Dangote Refinery has completed the endorsement of the offer documents for its initial public offering, putting it on course to launch the $1.6 billion public equity sale, regarded as Africa’s largest ever, next week.

Aliko Dangote, Africa’s richest man and owner of the 700,000 barrel-per-day (bpd) plant, led the sign-off ceremony in Lagos on Monday in the presence of advisers and other parties to the pan-African offering, which aspires to source about N2.2 trillion from investors.

The minimum subscription of the offer is 10 ordinary shares, translating to N5,250, Mr Dangote told the event.

Lagos-based Vetiva Advisory Services Limited is coordinating the capital raise.

The ceremony follows a key approval by the capital market regulator, the Securities and Exchange Commission (SEC), last week, with 4.1 billion shares up for subscription at N525 ($0.40) per unit.

The maiden share offer values the refinery at nearly $50 billion, and plans to plough the proceeds into doubling the current capacity of the facility, which lies on a 6,180-acre expanse on the outskirts of Lagos, to 1.4 million bpd.

That could lift the market capitalisation of the Nigerian Exchange by more than one third when the shares are listed on the local bourse later this year.

A cross-border listing on the Johannesburg Stock Exchange, the continent’s biggest bourse, is in the works, just as the company is giving thought to quoting the stock in Egypt, Kenya, Ghana and Rwanda.

In July, a private placement heralding the IPO raised $2.5 billion from institutional investors and HNIs, oversubscribed by 270 per cent.

Unmet demand from the private share sale could find its way into the IPO, which, long before its approval was announced, had drawn vast interest across Nigeria, where the SEC was impelled in June to stop all the marketing related to the share sale.

The regulator’s action followed reports that many retail investors, including those with little or no knowledge of how equity investment works, were already opening trading accounts ahead of the IPO.

Nevertheless, investor appetite is growing fast beyond retail level, with Abu Dhabi National Oil Co (ADNOC) which according to Bloomberg on Monday, was said to have opened conversations with the refinery towards buying a stake in it.

The global media outlet, citing interviews with sources, noted that an insider at ADNOC said Dangote Refinery has also received approaches from other big investors.

READ ALSO: AFC leads investment in Dangote Refinery’s $2.5bn private placement

Potential model for aspiring companies

The IPO’s launch on 14 September will ride on the improved liquidity Nigeria expects to attract from foreign portfolio capital, following the country’s restoration to frontier market status by FTSE Russell after a near-three-year downgrade that bogged it down under unclassified market status, consequently deterring international investors.

Likewise, an IPO on this scale could offer a template to similarly big Nigerian companies raring to become public quoted firms and, by so doing, unlock access to financing through the capital market.

State-owned energy company NNPC Limited has been fiddling with the idea of going public and holding an IPO since 2021 after transitioning into gaining limited liability status, reviving the talks around the push last November.

The company, whose public image has long been marred by opacity in its operations and lack of transparency in publishing its accounts, may borrow a leaf from Dangote Refinery’s listing.

In June, the refinery, which commenced production in January 2024, toppled the US to become the biggest external supplier of jet fuel to Europe, maintaining the feat in July.