The Nigerian debt and equity capital markets investment firm, Zedcrest, has acquired RMB Stockbrokers Nigeria for ₦400 million according to a source.
This follows Zedcrest’s quest to expand its services and provide its clients with access to the Nigerian Equity market. The equity market grew to 45% in 2023 despite the rapid Naira devaluation, inflation, and Forex challenges.
RMB Nigeria Stockbrokers’ expertise in stockbroking, when combined with our comprehensive solutions, will enable us to deliver even greater value to our customers.
Adedayo Amzat, CEO of Zedcrest Group
RMB Nigeria Stockbrokers will be rebranded as Zedcrest Securities.
However, in 2024, the market is staying strong, although the country is experiencing volatile foreign exchange quotes and a weak business environment which has directly affected consumer goods.
These situations led to foreign investors withdrawing more money than what was invested in the first quarter of 2023. This issue further deteriorated Nigeria’s macroeconomic conditions from the previous year, reaching a three-decade low.
We are excited about the opportunities this acquisition presents and look forward to a promising future. We assure our clients that this transition will be seamless and that their interests remain our top priority.
Layi Olaleru. CEO RMB Nigeria Stockbrokers