Adeosun commends United Capital Plc domestic investment drive
Minister of Finance, Mrs. Kemi Adeosun yesterday in Abuja commended the domestic investment drive of United Capital Plc, a leading African financial and investment services Group in Nigeria.
The Minister charged other Nigerian corporate bodies to emulate the good examples of United Capital Plc to invest in infrastructure development as a way of attracting foreign investments as a measure of confidence building. She added that unless this was done, foreign investments would continue to elude Nigeria.
Adeosun gave the charge when the Management of United Capital Plc sensitized the public on the group’s recent two Initial Public Offers [IPOs] of: $10 million United Capital Nigerian Eurobond Fund and the N2billion United Capital Wealth for Women Fund.
It also presented the United Capital Nigerian Power Sector Report, which was just published.
“There is no magic to attracting foreign investment into the country. The local investors must attract the foreign investors here by themselves investing to demonstrate a sense of confidence in the economy,” she said.
On the outlook for the Nigerian economy, Adeosun noted that government was committed to increasing capital funding for critical infrastructure from 10% to 30% of government expenditure.
Managing Director of United Capital Asset Management, Jude Chiemeka said: “The current economic challenges have altered investment interests in the market.
We designed these new products specifically to suit the changing needs of our clients.
“Our Mutual Funds have consistently offered attractive dividend returns for investors and we expect our two new funds to follow suit.”
He said the United Capital Nigerian Eurobond Fund was an open-ended mutual fund that would be invested in dollar denominated Eurobonds.