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Emerging Africa Marks Fifth Anniversary, Eyes Listing on NGX
Kayode Tokede
The Founder and Chief Executive Officer (CEO) of Emerging Africa Group (EAG), Mrs Toyin Sanni has said that the leading financial services firm is pursuing listing on the Nigerian Exchange Limited (NGX) in order to enhance its visibility and credibility in the Nigerian capital market.
Mrs Sanni stated this while speaking at the fifth year anniversary of the group in Lagos, disclosing that the firm is set to launch the Emerging Africa Technology Limited Mauritius and Emerging Africa Technology Fund Mauritius, which is expected to manage $50 million Technology Fund. According to her, this will position Emerging Africa Group at the forefront of technological innovation in Africa.
Other set ambitious goals in the next five years, she mentioned include: establishing hubs in six geo-political regions of Nigeria and key African markets, positioning Emerging Africa closer to clients and facilitating better service delivery, undertaking bond issuance to provide financing for critical infrastructure projects, contributing to Africa’s development and economic growth, among others.
She said: “These milestones represent our unwavering commitment to driving positive change in Africa, embracing innovation, and delivering exceptional financial solutions. We remain steadfast in our determination to foster sustainable economic growth, create opportunities, and empower communities across the continent.”
Mrs. Sanni said when Emerging Africa Group embarked on the journey 2018, the vision was to become the leading catalyst for Africa’s emergence as a key global origin and destination for Environmental, Social, and Governance (ESG) focused investments and finance.
“We set out to make a significant impact in the financial landscape of the great continent, and I am proud to say that we have made remarkable strides towards achieving this purpose. Over the past five years, Emerging Africa Group has grown from strength to strength, expanding from two companies in 2018 to 10 as of date.
“This expansion is a testament to our commitment to diversifying, our services and providing comprehensive solutions to meet the evolving needs of our clients. We have successfully built a robust ecosystem that covers investment banking, capital advisory, asset management, trusteeship capacity building, and funds management,” she said.
Mrs Sanni noted that the financial position of Emerging Africa has been exceptional over the years, stressing that the firm has experienced phenomenal growth across all key financial metrics between 2019 and 2022.
“Our revenue has achieved an average annual growth of 193 per cent, while our profit before tax has grown at an astounding rate of 338 per cent. Total assets, managed funds, share capital, shareholders funds, earning per share, return on equity and return on assets, and profit margin have all shown remarkable growth rate, ranging from 149 per cent to 273 per cent,” she said.
“These numbers reflect our unwavering commitment to generating significant returns for our clients and investors. We have achieved this by upholding our core values of professionalism, integrity, and innovation,” she added.
Also speaking also at the ceremony, the Chairman, of Emerging Africa Group, Chief (Mrs) Nike O. Akande, said that as the financial landscape is continuously evolving, it presents the firm with new challenges and opportunities.
“As we enter the next phase of our journey, we remain steadfast in our commitment to innovation, embracing technology and emerging trends to better serve our clients. We will continue to leverage our expertise and market insights to deliver superior financial solutions while upholding the highest standards of professionalism and integrity.
“I am confident that Emerging Africa Group will continue to break barriers, create new opportunities, and shape the future of finance in Africa,” she declared.
