Femi Otedola, chairman of First HoldCo Plc, says the company’s inclusion in the FTSE Frontier 50 Index marks a significant milestone in its growth and reflects increasing investor confidence in the group.
Gatekeepers News reports that in a statement issued by the company on Monday, Otedola said the development underscores the transformation taking place at First HoldCo, as well as the strength of its governance structure and business model.
“Our inclusion in the FTSE Frontier 50 Index is a defining milestone in FirstHoldCo’s evolution,” he said.
“It affirms the transformation we are driving, the confidence investors continue to place in our institution, and the strength of our governance and business model.”
Wale Oyedeji, group managing director of First HoldCo, said the recognition demonstrates the discipline and execution focus of the company’s board, management and employees.
“This achievement reflects the discipline, commitment and execution focus of our Board, Management and employees,” he said.
“It validates the progress we have made in strengthening performance, enhancing operations and positioning FirstHoldCo for sustainable growth.”
Oyedeji said the inclusion would increase First HoldCo’s visibility among global institutional investors and strengthen its ambition to become a leading African financial services provider.
He said the group remained committed to building a stronger, more profitable and globally competitive financial services company while delivering superior and sustainable value to shareholders.
First HoldCo said its inclusion in the index would also improve its visibility among global institutional investors seeking opportunities in frontier markets.
“Interestingly, this is bigger than the FTSE Russell Index,” the company said.
“The inclusion of FirstHoldCo places it along with five other companies from Nigeria among the most liquid and investable companies across frontier markets, affirming its rising relevance to global institutional investors seeking quality exposure to Africa’s largest economy.”
According to the company, its improved market position and liquidity profile have been supported by strong market performance, improved financial results and the execution of its strategic priorities.
It added that enhanced governance standards and its focus on creating long-term shareholder value had further strengthened investor interest in the group.
First HoldCo also said it had met the Central Bank of Nigeria’s (CBN) minimum capital requirement and remained focused on further strengthening its capital base.
The group said the stronger capital position would enhance its financial resilience and provide capacity for accelerated growth across its businesses.
It added that its strengthened balance sheet, disciplined execution and expanding shareholder base had positioned the group to compete with greater scale, agility and confidence.
First HoldCo said it would continue to invest in digital transformation, customer experience and operational efficiency while maintaining its focus on sustainable growth.
The company also said its emphasis on governance, innovation and environmental, social and governance (ESG) principles would further strengthen institutional confidence in the group.
The inclusion of First HoldCo in the FTSE Frontier 50 Index will take effect on September 21.
The company was among six major Nigerian firms included in the index following FTSE Russell’s September 2026 semi-annual review.
