United Capital Infrastructure Fund (UCIF) has strengthened its governance structure and sharpened its strategic focus on Nigeria’s and Africa’s fast-evolving infrastructure landscape with the appointment of four seasoned infrastructure investment experts as independent members of its Investment Committee.The appointments, announced by the Board of Directors of United Capital Plc and ratified by the Securities and Exchange Commission (SEC), are widely seen by market analysts as a timely move to position the ₦150 billion closed-ended fund to capture emerging opportunities in power, renewable energy, industrial recycling, agribusiness, healthcare, gas infrastructure, and manufacturing across Sub-Saharan Africa.
The newly appointed members are De Buys Scott, who will serve as Chairman of the Investment Committee, alongside Olubunmi Akinremi, Bola Bamidele, and Obinna Ufudo as independent members. They join existing committee members Odiri Oginni, UcheNna Mkparu, and Adeyinka Jafojo. Mr. Samuel Nwanze has exited the committee following the completion of his tenure, with United Capital Group expressing appreciation for his contributions to the Fund’s disciplined investment framework.
The governance enhancement comes amid strong performance by UCIF. With investments spanning power, industrial recycling, and renewable energy, the Fund has recorded a year-to-date gross return of 24.62 per cent, reinforcing its growing reputation as one of Nigeria’s leading infrastructure-focused investment vehicles.
Commenting on the development, Mr. Peter Ashade, Group Chief Executive Officer of United Capital Plc, said the appointments were deliberately made to deepen governance, strengthen decision-making, and sustain long-term value creation.
“These appointments were made to further deepen the Fund’s governance and ensure that UCIF continues to drive sustainable impact through its investments. I welcome the newly appointed members of the Investment Committee and charge them to ensure sustainable growth and impact, while delivering consistent value to our investors,” Ashade stated.
Industry experts say the calibre of the appointees reflects United Capital’s intent to align capital with Nigeria’s infrastructure deficit and Africa’s long-term development needs.
Celestine Ukpong, an economist and public policy analyst, described the move as strategic, noting that infrastructure funds require deep technical and financial expertise to manage risk and deliver impact.
“Nigeria’s infrastructure gap remains one of the biggest constraints to economic growth.
By strengthening its Investment Committee with professionals who have global experience in project finance, PPPs, and capital mobilisation, UCIF is better positioned to channel long-term capital into projects that can unlock productivity, jobs, and inclusive growth,” Ukpong said.
Similarly, Peter Adebayo, FCA, a chartered accountant and financial governance expert, said the appointments signal strong corporate governance and investor confidence.
“For institutional investors, governance is as important as returns. Bringing in independent members with proven track records across multiple jurisdictions enhances transparency, risk management, and accountability. This is critical for infrastructure funds where investment horizons are long and capital commitments are substantial,” Adebayo noted.
Also reacting to the announcement, UcheNna Mkparu, Chief Investment Officer and Fund Manager at UCIF, expressed confidence that the expanded committee would strengthen the Fund’s strategic execution as it scales investments across Nigeria and the African continent.
“We are delighted to welcome the new members to the Investment Committee and would be counting on their track record, wealth of experience across multiple jurisdictions, and impeccable professional reputations to steer UCIF’s strategic direction as we scale investments that deliver competitive returns across Nigeria and Africa,” Mkparu said.
The new committee members bring decades of multinational experience across infrastructure advisory, investment banking, development finance, and corporate leadership. De Buys Scott, Managing Partner at Cornerstone Infrastructure Advisors and former Senior Partner at KPMG South Africa, brings deep expertise in public-private partnerships and project finance. Olubunmi Akinremi, CEO of Tocam Capital, has raised over $5 billion for the Nigerian market and previously served as Senior Special Adviser on economic policy to two former Nigerian Presidents. Bola Bamidele, a former International Finance Corporation (IFC) executive, brings nearly 25 years of experience in structuring impact investments across emerging markets.
Obinna Ufudo, a former Group CEO of Transnational Corporation of Nigeria Plc (Transcorp), is credited with leading a turnaround that delivered over US$1 billion in shareholder value within three years.
About United Capital Infrastructure Fund (UCIF)
The United Capital Infrastructure Fund (UCIF) is a SEC-licensed, ₦150 billion closed-ended fund established to finance and support critical infrastructure and related projects across Sub-Saharan Africa. The Fund focuses on high-impact sectors including agribusiness, industrial recycling, renewable energy, gas infrastructure, healthcare, and manufacturing, while delivering competitive returns to investors and supporting sustainable economic development.
United Capital Infrastructure Fund strengthens governance with new Investment Committee appointments, recording a 24.62% YTD return as experts applaud the move to unlock sustainable infrastructure growth across Nigeria and Africa.
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