United Capital Plc has appointed four seasoned infrastructure investment professionals as independent members of the Investment Committee of the United Capital Infrastructure Fund (UCIF), in a move aimed at repositioning the fund to seize emerging infrastructure opportunities in Nigeria and across Africa.
City Business News reports that the appointments, which have received ratification and clearance from the Securities and Exchange Commission (SEC), are expected to further strengthen the governance framework and strategic depth of UCIF, a ₦150 billion closed-ended fund with investments spanning power, industrial recycling and renewable energy.
The fund has continued to deliver strong performance, recording a year-to-date gross return of 24.62 per cent.
The newly appointed independent members are De Buys Scott, who will serve as Chairman of the Investment Committee, alongside Olubunmi Akinremi, Bola Bamidele and Obinna Ufudo.
They join existing committee members Odiri Oginni, UcheNna Mkparu and Adeyinka Jafojo. Meanwhile, Mr Samuel Nwanze has exited the committee following the completion of his tenure, with the Group expressing appreciation for his contributions to the fund’s rigorous investment processes.
Commenting on the development, the Group Chief Executive Officer of United Capital Plc, Mr Peter Ashade, said the appointments were made to deepen the fund’s governance and sustain its impact-driven investment strategy.
“These appointments were made to further deepen the Fund’s governance and ensure that UCIF continues to drive sustainable impact through its investments. I welcome the newly appointed members of the Investment Committee and charge them to ensure sustainable growth and impact, while delivering consistent value to our investors,” Ashade said.
Also speaking, the Chief Investment Officer and Fund Manager at UCIF, Mr UcheNna Mkparu, said the fund would leverage the appointees’ extensive experience and global exposure as it scales its investment activities.
“We are delighted to welcome the new members to the Investment Committee and would be counting on their track record, wealth of experience across multiple jurisdictions and impeccable professional reputations to steer UCIF’s strategic direction as we scale investments that deliver competitive returns across Nigeria and Africa,” he said.
The appointees bring decades of multi-sector experience across infrastructure, finance and investments. De Buys Scott is the Managing Partner at Cornerstone Infrastructure Advisors and a former Senior Partner, Infrastructure at KPMG South Africa, with deep expertise in public-private partnerships, project finance and capital raising across multiple sectors.
Olubunmi Akinremi, Chief Executive Officer of Tocam Capital, has over 30 years of experience in investment banking and corporate finance across Nigeria, the United States and the United Kingdom, having raised more than $5 billion for the Nigerian market.
Bola Bamidele recently retired from the World Bank Group after nearly 25 years, where she served as Sub-Saharan Africa Regional Lead for Transaction Advisory and Equity Mobilization at the International Finance Corporation (IFC), with extensive experience in structuring impact investments across several regions.
Obinna Ufudo is a veteran board director and executive with over three decades of experience across banking, infrastructure, energy and social impact. He previously served as President and Group Chief Executive Officer of Transnational Corporation of Nigeria Plc (Transcorp), leading a major turnaround that created significant shareholder value.
The United Capital Infrastructure Fund (UCIF) is a SEC-licensed fund established to finance and support infrastructure and related projects across Sub-Saharan Africa. The fund targets key sectors including agribusiness, industrial recycling, renewable energy, gas infrastructure, healthcare and manufacturing, with a mandate to deliver competitive returns while supporting sustainable economic growth and development.
