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 ensue 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 Public- Private-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 Non- Executive 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.
Obinna Ufudo – Independent Member
Obinna is a seasoned board director and executive with over 30 years’ experience spanning banking, investment, infrastructure, energy and social impact. He is Chairman of Loanbook Limited and Atiat Limited, and a Non-Executive Director of Abbey Mortgage Bank. He previously served as President/Group CEO of Transnational Corporation of Nigeria Plc (Transcorp), leading a successful turnaround that delivered over US$1 billion in shareholder value within three years. He is the Founder & Chairman of Sir Pius Ufudo Foundation, a Fellow of the CIBN, a British Chevening Scholar, an alumnus of Wharton AMP and IESE Executive MBA.
About United Capital Infrastructure Fund (UCIF)
The United Capital Infrastructure Fund (UCIF) is a SEC-licensed, #150 billion closed- ended fund designed to finance and support infrastructure and related projects in Nigeria and Sub-Saharan Africa. The fund targets key sectors, including agribusiness, industrial recycling, renewable energy, gas infrastructure, healthcare, and manufacturing. UCIF is committed to delivering competitive returns to investors while financing high-impact, sustainable projects that contribute to economic growth and development.
