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GTCO Acquires Asset Management and Pension Fund Businesses

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Guaranty Trust Holding Company Plc, GTCO Plc, a diversified financial services provider, today notified the Nigerian Exchange Group (NGX) and the investing public that GTCO Plc has concluded the acquisition of the 100% equity stake in Investment One Pension Managers Limited (IOPM) and Investment One Funds Management Limited (IOFM) (together, the Companies) held by Investment One Financial Services Limited (IOFS or the Seller).

IOPM is licensed by the Nigerian Pensions Commission (PenCom) to operate as a Pension Fund Administrator in Nigeria. On the other hand, IOFM is licensed by the Securities and Exchange Commission (SEC) to undertake fund management and investment services on behalf of clients and manage collective investments schemes as a corporate investment adviser. The Seller is regulated by the SEC and offers a wide range of services including Investment Management, Trust Services, Financial Advisory Services, Security Brokerage and Pension Funds Management. Forthwith, the Companies cease to be subsidiaries of the Seller and have become wholly owned subsidiaries of GTCO Plc.

In line with GTCO Plc’s aspirations to operate across the financial services sector value chain in Africa, these acquisitions would expand the product and service offerings of the Group into the Assets and Funds management segments whilst positioning GTCO Plc as a dominant player for all critical financial services.

Commenting on the completion of the Corporate Reorganization, Mr Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, said: “We are very excited to get started on the next phase of our incredible journey to driving Africa’s growth by making end-to-end financial services easily accessible to every African and African Businesses by leveraging Technology and Strategic Partnerships. As a bank, we were always looking to meet every customer need; with our corporate reorganization, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities”.

He further stated that, “Whilst we are evolving as an organization, we remain committed to our founding values which have endeared our brand to millions of people across Africa and beyond, and which continue to drive our financial success. As a Proudly African and Truly International brand, we will continue to live by these values — of excellence, hard work and integrity, even as we create faster, cheaper, safer and products for people and businesses through every stage of life.”

The acquisitions were facilitated by Exotix Advisory Limited and Vetiva Capital Management Limited as Financial Advisers, Aluko & Oyebode as Legal Adviser and Deloitte & Touche (Nigeria) as Financial Due Diligence Adviser.

Distributed by APO Group on behalf of Guaranty Trust Holding Company Plc.

About Guaranty Trust Holding Company Plc (GTCO Plc):
GTCO Plc is a diversified financial services company with N5.144trillion in assets, providing commercial banking services and non-banking financial services across eleven countries, including the United Kingdom. The Group offers a wide range of banking as well as non-banking financial services in Nigeria, West Africa, East Africa, and the United Kingdom.

The Group is rated B- by S&P, a reflection of the Group’s stability and reputation of being a well-established franchise with strong asset quality and consistent excellent financial performance.

This Press Release has been issued by APO. The content is not monitored by the editorial team of African Business and not of the content has been checked or validated by our editorial teams, proof readers or fact checkers. The issuer is solely responsible for the content of this announcement.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Telecom

NCC Bars Ex-Officials from Joining Telecom Firms for 5 Years

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Nigerian Communications Commission (NCC) has introduced strict corporate governance rules that will bar its top officials from taking up roles in telecom companies they regulate until five years after leaving office.

NCC Bars Ex-Officials from Joining Telecom Firms for 5 Years

Under the new Corporate Governance Guidelines for the Communications Industry, the Chairman, Executive Vice-Chairman, and Board Commissioners, both executive and non-executive, are barred from being appointed to any position in a licensed telecom company until five years after their exit from the Commission.

Similarly, Directors of Departments at the NCC face a three-year cooling-off period before they can take jobs with any licensee under the Commission’s supervision.

The move, announced on August 11, 2025, seeks to enhance transparency, accountability, and ethical standards in Nigeria’s fast-growing telecommunications industry.

Departmental directors face a three-year cooling-off period before joining any licensee under the agency’s oversight.

This policy aims to prevent conflicts of interest and ensure impartial regulation.

By creating a clear separation between regulators and the industry, the NCC hopes to curb undue influence and maintain public trust.

]The guidelines reflect a global trend in regulatory bodies enforcing cooling-off periods.

Similar measures exist in industries like finance and energy to safeguard against regulatory capture.

For Nigeria’s telecom sector, this is a significant step toward aligning with international best practices.

The NCC’s new framework also targets telecom operators’ internal governance.

Board chairmen or vice-chairmen are barred from holding executive powers or serving as MD/CEO of a licensee.

Former board chairmen and non-executive directors must wait five years before assuming executive roles in the same company or its affiliates.

Additionally, no more than two family members can serve on a licensee’s board simultaneously.

These measures aim to promote balanced board structures and reduce nepotism.

Dr Aminu Maida, executive vice-chairman, NCC, emphasised the importance of these reforms.

“Corporate governance is no longer a soft requirement. It is now a strategic imperative,” he said during the guidelines’ launch in Lagos.

Maida highlighted that robust governance correlates with better business performance, citing an NCC internal review. Companies with strong governance frameworks consistently outperform peers in service delivery, financial management, and regulatory compliance.

Nigeria’s telecom sector is a cornerstone of its digital economy. With over 222 million active mobile subscriptions as of Q1 2025, the industry supports critical sectors like finance, healthcare, and education.

However, challenges like cybersecurity threats, energy shocks, and rising consumer demands have exposed governance weaknesses. The NCC’s new rules aim to address these by fostering transparency, accountability, and innovation.

The guidelines apply to all communications companies holding individual licences and paying Annual Operating Levies (AOL) under the AOL Regulations 2022.

The NCC has indicated flexibility in applying the rules across different licence categories, with phased compliance measures to be communicated in writing. While the rules may cause short-term disruptions for operators, the NCC insists that long-term benefits, like improved service quality and market trust, will outweigh these challenges.

 


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Airtel, Vodacom sign Network Infrastructure Agreement to Drive Digital Inclusion

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Airtel Africa and Vodacom Group have announced a strategic infrastructure sharing agreement in key markets including Mozambique, Tanzania and the Democratic Republic of Congo (DRC), subject to regulatory approvals in the various countries.

The agreement marks a transformative milestone in promoting digital inclusion and expanding access to reliable connectivity across Africa.

The initial partnership focuses on sharing fibre networks and tower infrastructure, to accelerate the roll-out of digital services in these markets, increasing connectivity for customers while reducing operators’ infrastructure costs and improving speed to market.

By leveraging existing infrastructure, the collaboration aims to deliver improved connectivity, faster internet speeds, and more reliable services. This will not only enhance customer experience but also assist with providing access to digital services for a broader population, particularly those in underserved areas, helping to bridge the digital divide in Africa.

Vodacom Group’s chief executive officer Shameel Joosub said: “Providing connectivity to empower people is at the core of our strategy. Our partnership with Airtel Africa is a proactive step forward in creating a sustainable, inclusive, and connected digital future for the continent.

Through infrastructure sharing, we can provide cost-effective services to more people, more rapidly, ensuring that no one is left behind in the digital age. As we fulfil our ambition to connect 260 million customers by 2030, the need for scalable and cost-efficient network solutions becomes increasingly significant.

This partnership provides us with the opportunity to narrow the digital divide, empowering more individuals and communities through digitalisation across the continent. It is aligned with our purpose to connect for a better future,” concludes Joosub.

Airtel Africa’s chief executive officer Sunil Taldar said: “This partnership is aligned with our unwavering commitment to delighting our customers by always making our network available to them even in the remotest locations.

“Working with Vodacom, we will open greater access to digital and financial opportunities which will transform the lives of our customers while complying with all regulatory requirements.

“Even as competitors, it has become a business imperative for us to collaborate in the provision of critical infrastructure required to build resilient network with strong capacity to support the emerging digital technologies as well as the growing need for data-enabled products and services.

“Accelerating the deployment of fibre connectivity is a key enabler in the acceleration of 4G and 5G technologies in Africa to deliver the high-speed, low-latency, and reliable connections needed for modern digital applications.

“This partnership allows for further opportunities for both operators to enhance network performance, extend coverage, and increase mobile, fixed, and financial services leveraging a broader footprint on the continent.”


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Truecaller Crosses 100m Users in MEA Region

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Truecaller, a global caller ID and spam prevention platform, has reached 100 million active users in the Middle East and Africa (MEA) region, representing a 19% year-over-year increase.

According to the platform, the region’s main markets include Egypt, Nigeria, South Africa, Kenya, Algeria, Ghana, and Jordan.

Truecaller is routinely utilised on 20% to 45% of connected cellphones in these areas, including Android and iOS devices, according to the business.

The app has gained traction across the African continent with its concept of resolving communication issues for individuals and businesses by blocking unsolicited calls.

It has also collaborated with local businesses, forming major partnerships including a recent cooperation with Telecom Egypt to change consumer communication and experience by providing safe, customised, and seamless calling experiences.

Truecaller’s CEO, Rishit Jhunjhunwala, stated that the service has grown organically in markets such as MEA and India due to the mobile first environment, which uses a user’s mobile number as the primary identifier of calls. He under-lined that the MEA market provides a growth-enabling environment.

“We’re continuing to strengthen our organisation and our partnerships in the region, because we believe that the MEA is poised for significant growth for many years ahead,” said Jhunjhunwala.


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