Pan-African stockbroker and financial services firm Securities Africa (www.securitiesafrica.com) has acquired a Nigerian stockbroker, Skye Stockbrokers Limited, in June and this week it announced that it has successfully changed its name to Securities Africa Financial Limited. The company has appointed Mr. Afolabi Folayan as Managing Director.
The stockbroker was previously owned by Skye Bank Plc and it was sold to Securities Africa Limited and local shareholders in compliance with a 2011 regulation by the Central Bank of Nigeria on universal banking. Securities Africa Financial Limited is a licensed member of The Nigerian Stock Exchange and regulated by the Securities & Exchange Commission of Nigeria. It has been busy with rebranding the company. Securities Africa Limited is an award-winning Pan-African financial services firm with offices throughout Africa, Asia, Europe and the Americas.
Securities Africa Financial Limited delivers a wide range of capital markets and investment banking services to state governments, pension fund administrators, insurance companies, multinational conglomerates, and institutional investors throughout Nigeria. It has served as lead manager on numerous capital market transactions with leading companies and institutions, notably IHS Nigeria Plc, Tanalizers Plc, Law Union and Rock Insurance Plc, and Lagos State among others.
Mr. Folayan’s previous job was as Executive Director for WSTC Financial Services, where he successfully managed the company’s stock-broking and portfolio management businesses. He has wide experience in Nigeria’s capital markets.
Michael Barnes, Managing Director of Securities Africa, commented in a press release: “Given the numerous changes presently underway across the Nigerian capital markets, we are pleased to announce the appointment of Afolabi Folayan as Managing Director of Securities Africa Financial Limited. Afolabi brings a wealth of experience to the role and his leadership will be an enormous benefit to the company and our clients. Our business has made substantial progress in Nigeria, and Afolabi brings a unique blend of knowledge and expertise as well as a broad range of relationships, both in the corporate world and financial community.”