By Sofiyyah Layole
FCMB Group Plc has launched a massive capital raise, seeking to secure N160 billion through an offer for subscription of 16 billion ordinary shares at N0.50 per share.
While the primary goal is to meet the Central Bank of Nigeria’s (CBN) new minimum capital requirements, the Group has explicitly earmarked a significant portion of the proceeds to fund an ambitious five-year international expansion strategy across Africa.
The disclosure was made by the Group Chief Executive, Mr. Ladi Balogun, during the “Facts Behind the Offer” presentation held yesterday.
Balogun outlined that beyond shoring up the paid-up capital of FCMB Limited, the capital injection would be strategically deployed to drive business expansion, enhance technology infrastructure, and invest in human capital.
A major revelation from the presentation was the Group’s plan to expand its footprint by entering one new African country each year over the next five years.
This aggressive expansion is intended to diversify the Group’s portfolio and capture emerging opportunities across the continent.
Balogun pitched the offer to capital market stakeholders as a strategic opportunity, citing five key reasons to invest: a diversified business portfolio, an improving macroeconomic environment, strong net interest margins, ongoing digital transformation, and a favourable valuation outlook.
The capital raise is underpinned by a robust half-year 2025 financial performance. FCMB’s total assets rose 7% to N7.5 trillion from N7.1 trillion in 2024, and its Shareholders’ funds grew by 8% to N745.6 billion. Furthermore, the bank’s low-cost deposits climbed 27% to N3.1 trillion, while profit before tax jumped to N79.1 billion.
The offer period for the shares commenced on October 2 and will close on November 6, 2025.
The Group also announced that interim dividend payments are scheduled to begin in 2026, following the interim audit.