FSDH Merchant Bank, a financial services group in Nigeria, announced that Advanced Finance and Investment Group (AFIG Funds), a leading African private equity fund manager has, through the Atlantic Coast Regional Fund (ACRF), completed an investment in the Bank.
“We are pleased to become a shareholder in FSDH, a well-established financial services group in Nigeria with exciting growth prospects, and a long track record of strong performance. We look forward to working with the Bank’s management, the board of directors, and the other shareholders to support the Bank in achieving its ambitious objectives,” says Papa Madiaw Ndiaye, AFIG Funds Chief Executive Officer.
FSDH provides an array of services including merchant banking, corporate banking, investment banking, asset management and pension fund management.
“We are delighted to welcome AFIG Funds as a shareholder of the Bank. We have built a strong relationship with the AFIG Funds team over time, and most recently in the context of this transaction. We believe that the Bank stands to benefit from AFIG Funds’ extensive experience investing in financial institutions across Africa. Importantly, we welcome their faith in the prospects of the Nigerian economy, backed by their experience identifying opportunities and investing in Nigeria and across the continent,” says Hamda Ambah, FSDH Merchant Bank Managing Director.