United Capital Asset Management Ltd, a subsidiary of United Capital Plc, has urged for inter-sectoral collaboration to enhance financial inclusion in the country.
The company has stated this in its first Investment Forum, which was set up as a platform for industry stakeholders to dialogue on the issue of Financial inclusion, Themed “Deepening Financial Inclusion through Participation in Collective Investment Schemes: A Collaborative Approach,” the forum addressed emerging trends, challenges, and opportunities in the financial landscape with a focus on driving greater retail participation in Collective Investment Schemes (CIS), specifically mutual funds, to enhance financial access for all, according to Vanguard.
Delivering the keynote speech at the forum, the Director-General of the Securities and Exchange Commission, Lamido Yuguda represented by the Executive Commissioner (Operations) at SEC, Dayo Obisan, stressed the vital need for increased retail participation in the capital markets, noting that, despite the progress made so far in advancing financial inclusion across Nigeria, less than five per cent of Nigerian adults currently invest in the capital market, underlining the urgency for concerted efforts in this endeavor.
In her remark, the MD/CEO of United Capital Asset Management Ltd, Odiri Oginni, underscored the growth potential in Nigeria’s Collective Investment Schemes (CIS) industry but expressed concern about the low penetration rate compared to other countries.
She explained that “Collaboration among stakeholders is essential to scale up the industry and reach underserved populations. By integrating CIS into their product offerings and distribution channels, financial institutions can expand their reach and attract new investors.”
Commenting, Group CEO, United Capital Plc, said “The timing of this conversation is particularly opportune given the prevailing economic landscape. At United Capital, we are steadfast in our commitment to advancing financial inclusion, which is our reason for putting this together. We hope this forum serves to catalyze collaboration within the financial services sector, ultimately contributing to the establishment of a more inclusive financial ecosystem and fostering sustainable wealth creation for all.”
The investment forum, which was attended by a diverse range of industry leaders and regulators, received positive feedback from participants. Of note, the Acting CEO of Nigerian Exchange Limited Nigeria, Jude Chiemeka, delivered a commendable goodwill message lauding United Capital’s consideration in organizing such an event
