Sage Grey plans to transition its finance business into a commercial bank by 2027, as the financial services group sets out its next phase of growth after a decade of operations in Nigeria.
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‎The plan is part of the company’s roadmap to build Sage Grey Finance into a Tier 1 Nigerian bank within the next 10 years, with wholesale, retail and commercial banking capabilities.
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‎Speaking at Sage Grey’s 10th anniversary celebration in Lagos, the Managing Director and Chief Executive Officer, Temitope Runsewe, said the company was focused on consolidating its existing businesses, strengthening its capabilities and expanding its partnerships.
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‎He said the next phase would build on the foundation established over the past decade, during which the company expanded from an advisory business into financial services, technology and investment management.
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‎Sage Grey’s presentation also outlined plans to list Sage Grey Finance on the Nigerian Exchange and position it as a leading impact financing institution.
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‎Runsewe said the company began operations in 2016 with three people, helping businesses and institutions identify opportunities, structure transactions and mobilise capital.
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‎“We built a financial services business, expanded into technology and developed the capacity to invest directly in opportunities where we could create lasting value,” he said.
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The company said it has grown from three people to about 1,000 staff, with about 38 companies and four operating locations in Nigeria.

‎He said the journey had not been without challenges, citing currency devaluation, the COVID-19, changes in government and shifts in policy and regulation.
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‎Despite these challenges, he said Sage Grey remained focused on building its people, capabilities, structures, processes and partnerships, while building a brand that people could trust.
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‎Runsewe said Nigeria’s demographics, ongoing government reforms and growing international interest, alongside opportunities in mining, oil and gas, infrastructure, manufacturing and technology, presented significant possibilities for economic growth.
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‎He expressed confidence in Sage Grey’s ability to contribute to the country’s growth, adding that its next phase would focus on strengthening its businesses, deepening capabilities, expanding partnerships and creating greater value for the markets and communities it serves.
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‎The company’s presentation also outlined plans to expand Sage Grey Technologies, consolidate its investment activities and strengthen the Sage Grey Foundation’s social impact initiatives.
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‎Runsewe thanked the Central Bank of Nigeria, the Bank of Industry, NIBSS, the Netherlands Consulate, banking partners, clients, shareholders, board members and employees for their support over the past decade.
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‎He described the anniversary as both an important milestone and the beginning of another phase for the company.