Home » Segun Agbaje, one of Nigeria’s richest bankers, holds $1.3-million stake in PepsiCo

Segun Agbaje, one of Nigeria’s richest bankers, holds $1.3-million stake in PepsiCo

by Feyisayo Ajayi
Segun Agbaje

Segun Agbaje, the group CEO of Guaranty Trust Holding Company (GTCO), a leading figure in Nigeria’s financial sector, has solidified his standing as one of the country’s most affluent executives by acquiring a minority interest worth $1.3 million in beverage giant PepsiCo Inc.

Agbaje, a respected business magnate and banker, has been leading GTCO since 2011. His influence transcends the boundaries of Nigeria, as he is also an Independent Director at PepsiCo, Inc., a role he undertook on July 15, 2020, alongside his various responsibilities across multiple corporations.

Having distinguished himself through his significant contributions to PepsiCo’s board, Agbaje has garnered 7,272 shares in the world’s largest beverage company.

PepsiCo reported impressive figures in its 2022 fiscal year, with a total net revenue of $86.4 billion and a net income of $8.91 billion, underscoring its robust market size.

Agbaje’s 7,272 shares in PepsiCo translate to a minority stake of 0.0005 percent in the beverage giant; The stake is currently valued at $1.34 million, reflecting PepsiCo’s stock price of $184.04 on the Nasdaq Stock Exchange. This financial feat further solidifies Agbaje’s position as one of Nigeria’s most affluent corporate leaders.

In addition to his stake in PepsiCo, Agbaje maintains a 0.14-percent minority stake in GTCO. This stake amounts to an impressive 41,628,001 shares, estimated at N1.6 billion ($2 million), making him a prominent player on the Nigerian Exchange.

Beyond his instrumental role at GTCO and his directorship at PepsiCo, Agbaje extends his influence to the Mastercard Advisory Board for the Middle East and Africa, showcasing his comprehensive involvement across diverse sectors.

Agbaje’s reputation as an exceptional CEO resonates across the African continent, a distinction earned through his prowess in capitalizing on opportunities and driving successful business ventures.

His contributions include pioneering the interbank derivatives market and introducing the balance sheet management efficiency system in Nigeria, demonstrating his enduring impact on the nation’s banking industry.

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