The capital will boost working capital and fuel GTCO’s domestic and international growth, including acquisitions in pensions and asset management.
Segun Agbaje
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Agbaje reaffirms GTCO’s goal to be the first Nigerian company to reach $1-billion profit, aiming for significant market capitalization and international expansion.
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The capital raise, aimed at generating N500 billion ($329.5 million) through the issuance of ordinary shares, underscores GTCO’s strategy to bolster its …
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The targeted capital will be sourced through public offerings, private placements, rights issues, and other instruments.
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Building on a strong 2023 performance, with profit rising 219 percent to $470.1 million, GTCO’s first-quarter profit jumped 685.9 percent year-over-year.
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The capital raise aligns with the Central Bank of Nigeria’s (CBN) recent increase in minimum capital requirements for the country’s largest banks.
- Hot News
Nigerian banker Segun Agbaje’s GTCO to distribute $63.8 million in dividends to shareholders
With Segun Agbaje at the helm, GTCO continues to chart a path of sustained growth and profitability in the Nigerian financial landscape.
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GTCO’s 2023 financial performance, marked by record profit, strengthens Agbaje’s leadership and cements the company’s position as a Nigerian financial powerhouse.
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Nigerian business executive Segun Agbaje’s leadership remains a key ingredient in GTCO’s financial success in recent years.
- West & Central Africa
GTCO, led by Nigerian banker Segun Agbaje, posts $370-million half-year profit
Agbaje’s leadership has been pivotal to GTCO’s remarkable success as he continues to guide the group to new heights.