Coronation obtains holding company licence

The Securities and Exchange Commission (SEC) has granted a Capital Market Holding Company (CMHC) licence to Coronation Group Limited.

A move that has seen the company transitioned to a licensed group structure, solidifying its position as an investment management powerhouse in the African region as the regulatory recognition represents a significant milestone in the group’s mission to democratise access to wealth creation for Africans.

This disclosure was made yesterday during the investiture ceremony of Chairman of Coronation Group, Mr Aigboje Aig-Imoukhuede, as Honorary Fellow of the Chartered Institute of Stockbrokers in Lagos.

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Aig-Imoukhuede disclosed that the Group Managing Director and Chief Executive Officer, Wole Onasanya, will oversee the strategic priorities of Coronation’s ecosystem. These priorities, he said, would include building digital platforms, establishing strategic partnerships for exponential growth, and maximizing shareholder returns.

In his remarks, Onasanya said, “ With $200 million of its own capital, Coronation Group stands among the most prominent privately-owned players on the continent. The company expects to deploy $500 million of its own capital in the business by 2033, further solidifying its position as an African leader.”