Nigeria: Coronation Group obtains Capital Market Holding Company license from SEC

Coronation Group Limited has obtained a Capital Market Holding Company (CMHC) license from the Securities and Exchange Commission (SEC).

According to the statement, the regulatory recognition represents a significant milestone in the Group’s mission to democratize access to wealth creation for Africans, harnessing the power of ecosystems.

• “Coronation Group Limited subsidiary companies include Coronation Capital Limited, Coronation Asset Management Limited, Coronation Securities Limited, Coronation Trustees Limited, Coronation Registrars Limited, Coronation Technology Limited, and Trium Limited. 
• The Group is also affiliated with companies such as Coronation Insurance Plc., Coronation Life Assurance Limited, Coronation Insurance Ghana Limited, and Coronation Merchant Bank Limited. Coronation Group maintains strategic investments in leading players in the technology and energy sectors.
• The Group Managing Director and Chief Executive Officer Wole Onasanya will oversee the strategic priorities of Coronation’s ecosystem. 
• These priorities include building digital platforms, establishing strategic partnerships for exponential growth, and maximizing shareholder returns,” the statement said. 

Democratizing access to investment

Aigboje Aig-Imoukhuede, Chairman of Coronation Group said:

• “This transition marks our first five years of orchestrating the Coronation Group ecosystem. 
• We established Coronation with the objective of democratizing access to investment, lending, and insurance, empowering individuals to achieve financial independence and build enduring legacies. 
• We are excited about the future and our role as a key driver of growth in Africa.” 

Wole Onasanya, MD/CEO of Coronation Group stated:

• “Our primary objective is to make wealth creation accessible to all Africans. 
• Coronation Group is well positioned to offer integrated financial services backed by exceptional talent, all accessible through cutting-edge technology platforms. 
• We are dedicated to being trusted partners on our clients’ journeys to prosperity, helping them achieve outcomes that go beyond financial returns.” 

Highlighting the benefits Coronation Group delivers to its clients, Aig-Imoukhuede during a Closing Bell Ceremony hosted in honour of his investiture as an Honorary Fellow of the Chartered Institute of Stockbrokers on Wednesday further added:

• “Our culture of innovation and excellence drives us to deliver world-class experiences to our clients. By delivering transformational solutions at scale, we are strategically positioned to address several of Africa’s unique challenges.” 

Expects to deploy $500 million of capital by 2033:

Pai Gamde, Chief Talent Officer of Coronation Group, affirmed the company’s commitment to strong corporate governance practices, fostering transparency, and ensuring accountability in its operations.

• “We are pleased to have reached this important milestone, and we remain fully committed to our responsibilities as a regulated holding company.”
• This notable achievement builds upon Coronation’s journey culminating in the acquisition of a CMHC license. 
• With $200 million of its capital, Coronation Group stands among prominent privately-owned players on the continent. 

The company expects to deploy $500 million of its capital in the business by 2033”.