Zedcrest, a Nigerian debt and equity capital markets investments firm, has acquired the Nigerian arm of RMB Stockbrokers for a figure between ₦400 million and  ₦420 million, according to a person familiar with the proceedings. 

The acquisition comes as Zedcrest looks to expand its services and give its clients access to Nigeria’s equity market, which gained 45% last year (a 26% increase from 2022) despite inflation, exchange rate challenges, and the delisting of major companies. This growth was spurred by government policies and strong quarterly performances by companies.

RMB Nigeria Stockbrokers’ expertise in stockbroking, when combined with our comprehensive financial solutions, will enable us to deliver even greater value to our clients,” Adedayo Amzat, the CEO of Zedcrest Group said. The acquisition will see RMB Nigeria rebranded to Zedcrest Securities.

In 2024, the market has remained resilient even as the new bank recapitalisation policy, foreign exchange volatility, and a weakened business environment have impacted consumer goods, while foreign investor activity remains mixed, with a net outflow in Q1 2024.

“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 of RMB Nigeria Stockbrokers said.