United Capital Infrastructure Fund appoints new investment committee members

United Capital Infrastructure Fund (UCIF) has announced the appointment of four new independent members to its Investment Committee as part of efforts to strengthen governance and reposition the fund for emerging infrastructure opportunities in Nigeria and across Africa.

The appointments, approved by the Securities and Exchange Commission (SEC), were announced by the Board of Directors of United Capital Plc. The new members are De Buys Scott, who will serve as Chairman of the Investment Committee, alongside Olubunmi Akinremi, Bola Bamidele and Obinna Ufudo.

UCIF, which has investments spanning power, industrial recycling and renewable energy, said the move comes as it continues to deliver strong performance, recording a year-to-date gross return of 24.62 per cent.

Commenting on the development, the Group Chief Executive Officer of United Capital Plc, Peter Ashade, said the appointments were aimed at deepening the fund’s governance framework and sustaining 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,” Ashade said. “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.”

The new appointees bring decades of experience across infrastructure, investment banking, project finance and development finance institutions. De Buys Scott is the Managing Partner at Cornerstone Infrastructure Advisors and a former Senior Partner for Infrastructure at KPMG South Africa, with extensive experience in public-private partnerships, capital raising and project finance across multiple sectors.

Olubunmi Akinremi, Chief Executive Officer of Tocam Capital, has over 30 years’ experience in investment banking and corporate finance across Nigeria, the United States and the United Kingdom. He has raised more than $5 billion for the Nigerian market and previously served as Senior Special Adviser on economic policy to two former Nigerian presidents.

Bola Bamidele retired from the World Bank Group after nearly 25 years, where she was the Sub-Saharan Africa Regional Lead for Transaction Advisory and Equity Mobilisation at the International Finance Corporation (IFC). Her experience spans impact investments, infrastructure, mergers and acquisitions, and project finance across Africa, Latin America, Asia and Europe.

Obinna Ufudo is a veteran board director and executive with over three decades of experience across banking, investment, infrastructure, energy and social impact. He is a former President and Group Chief Executive Officer of Transnational Corporation of Nigeria Plc (Transcorp) and currently chairs several companies, while also serving as a non-executive director in the financial services sector.

The new members join existing Investment Committee members Odiri Oginni, UcheNna Mkparu and Adeyinka Jafojo. United Capital also announced the exit of Samuel Nwanze from the committee following the completion of his tenure, expressing appreciation for his contributions to the fund’s investment processes.

Also speaking on the appointments, the Chief Investment Officer and Fund Manager at UCIF, UcheNna Mkparu, said the fund was confident the new members would help steer its strategic direction as it scales investments across the 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,” Mkparu said.

UCIF is a Securities and Exchange Commission-licensed ₦150 billion closed-ended fund established to finance infrastructure and related projects in sub-Saharan Africa. Its target sectors include agribusiness, industrial recycling, renewable energy, gas infrastructure, healthcare and manufacturing, with a focus on delivering competitive returns while supporting sustainable economic growth.