In a strategic move to strengthen its position for major infrastructure projects, the Board of Directors of United Capital Plc has announced the appointment of four new independent members to the Investment Committee of the United Capital Infrastructure Fund (UCIF). This decision, confirmed on 13 January 2026, aims to reposition the fund to capitalize on opportunities within Nigeria and across the African continent.
New Faces to Steer Strategic Direction
The newly appointed members bring a wealth of multinational experience and decades of expertise in infrastructure and investments. The appointments have received the necessary ratification and clearance from Nigeria's Securities and Exchange Commission (SEC). The committee will now be chaired by De Buys Scott, the Managing Partner at Cornerstone Infrastructure Advisors and former Senior Partner for Infrastructure at KPMG South Africa.
The other three independent members are Olubunmi Akinremi, CEO of Tocam Capital; Bola Bamidele, former Sub-Saharan Africa Regional Lead at the International Finance Corporation (IFC); and Obinna Ufudo, a seasoned executive and former President/Group CEO of Transnational Corporation of Nigeria Plc (Transcorp). They join existing committee members Odiri Oginni, UcheNna Mkparu, and Adeyinka Jafojo. Mr. Samuel Nwanze has exited the committee after completing his tenure.
Leadership Focus on Governance and Impact
Mr. Peter Ashade, the Group Chief Executive Officer of United Capital Plc, stated that the appointments were made to deepen the fund's governance framework. He emphasized the goal of ensuring UCIF continues to drive sustainable impact through its investments while delivering consistent value to investors.
Echoing this sentiment, UcheNna Mkparu, Chief Investment Officer and Fund Manager at UCIF, expressed delight in welcoming the new members. He highlighted that the committee will rely on their proven track records and extensive cross-border experience to steer UCIF's strategic direction as it scales investments delivering competitive returns.
Fund Performance and Mandate
The United Capital Infrastructure Fund, a SEC-licensed, ₦150 billion closed-ended fund, continues to perform robustly. With current investments in power, industrial recycling, and renewable energy, UCIF has achieved an impressive year-to-date gross return of 24.62%. The fund is designed to finance high-impact, sustainable projects in key sectors such as agribusiness, gas infrastructure, healthcare, and manufacturing across Nigeria and Sub-Saharan Africa.
The group also extended its profound gratitude to the outgoing member, Samuel Nwanze, for his valuable insights and contributions to the fund's rigorous investment processes during his tenure.
