The Chairman of First HoldCo Plc, Femi Otedola, has called the company's inclusion in the FTSE Frontier 50 Index a "defining milestone" for the financial services group.
FirstHoldCo will join the FTSE Frontier 50 Index, which tracks top companies in frontier markets, starting from 21 September 2026.
This inclusion puts FirstHoldCo alongside six other Nigerian companies in the index. It is expected to boost its visibility among global investors looking to invest in Nigeria and other frontier markets.
Mr Otedola stated in a release on Monday that this development shows the transformation the company is undergoing and the confidence investors have in the institution.
"Our inclusion in the FTSE Frontier 50 Index is a defining milestone in FirstHoldCo’s evolution. 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.
We remain focused on building a stronger, more profitable and globally competitive financial services group, while delivering superior and sustainable value to shareholders," he said.
The FTSE Frontier 50 Index includes companies that meet strict standards for market capitalisation, liquidity, free float, governance, and investability.
FirstHoldCo mentioned that its inclusion comes after a time of strong market performance and consistent interest from investors. This was backed by better financial results, strategic actions, improved governance, and a focus on long-term shareholder value.
The company added that this development is more than just an index listing. It is an independent recognition of its size, governance standards, market depth, and long-term value.
It said being in the index might lead to more liquidity, increased interest from institutional investors, and better access to global capital.
Investors like asset managers, exchange-traded funds, and pension funds, who look at frontier-market opportunities, are likely to show more interest in the company due to its inclusion in the index.
This news comes after FirstHoldCo announced that it met the Central Bank of Nigeria’s minimum capital requirement.
The group said it is committed to strengthening its capital base, enhancing financial stability, and creating room for faster growth.
It noted that its improved balance sheet, growing shareholder base, and focus on careful execution would help it compete better across its businesses.
The Group Managing Director of FirstHoldCo, Wale Oyedeji, said this achievement shows the hard work and dedication of the company’s board, management, and employees.
"This achievement reflects the discipline, commitment and execution focus of our Board, Management and employees. It validates the progress we have made in strengthening performance, enhancing operations and positioning FirstHoldCo for sustainable growth," Mr Oyedeji said.
He added that the inclusion would enhance the company's visibility among global investors and support its goal to become a top financial services provider in Africa.
FirstHoldCo plans to keep investing in digital transformation, customer experience, innovation, and responsible business practices, while staying focused on sustainable growth and stakeholder value.
The company also mentioned that its focus on environmental, social, and governance principles, workplace excellence, and operational efficiency would further boost investor confidence in the group.
As global investors become more careful about where to put their money in frontier markets, FirstHoldCo believes that its place in the index shows strong recognition of its fundamentals, governance standards, liquidity, and growth potential.
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