UK’s MOBILIST facilitates secondary sale of listed shares @InfraCredit - ITRALMS

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The United Kingdom’s MOBILIST programme has completed a landmark secondary sale of its investment in InfraCredit, Nigeria’s pioneering domestic credit guarantee institution, to five Nigerian pension funds, marking a major milestone in mobilising local capital for infrastructure development.

The transaction represents the largest trade in InfraCredit shares since its listing on the NASD OTC Exchange in April 2025. It enabled five domestic institutional investors; comprising pension funds and insurers, to acquire equity stakes in InfraCredit, with four of them joining the company’s ownership for the first time.

InfraCredit, established to enhance creditworthiness and de-risk infrastructure investments, issues Naira-denominated guarantees that allow institutional investors to participate confidently in long-term infrastructure financing.

The UK’s Foreign, Commonwealth & Development Office (FCDO), through MOBILIST, had invested ₦9.5 billion ($6 million) during InfraCredit’s April listing, which raised ₦27 billion ($17.7 million) in total after attracting investment from two local pension funds.

According to the British Deputy High Commissioner in Lagos, Mr. Jonny Baxter, the UK remains committed to supporting Nigeria’s infrastructure and market development.

“InfraCredit is a strong example of transformational investment that unlocks commercial markets. It has already facilitated over ₦300 billion in financing across Nigeria’s infrastructure landscape,” Baxter said. “We’re excited to see domestic investors increasingly drive this momentum, building infrastructure for Nigerian businesses while delivering real value to Nigerian stakeholders.”

Following the sale, Nigerian pension funds now collectively hold over 27% of InfraCredit’s equity, strengthening domestic institutional ownership and governance of a strategically vital institution.

InfraCredit’s Chief Executive Officer, Mr. Chinua Azubike, described the development as “a proud milestone for Nigeria’s capital market.”

“This transaction reinforces our vision that catalytic foreign investment can pave the way for sustained domestic participation at scale. Welcoming four new pension funds underscores growing market confidence in local finance driving Nigeria’s sustainable future,” he said.

Mr. Ross Ferguson, MOBILIST Programme Lead at the FCDO, said the deal demonstrates how development finance can stimulate deeper capital markets and crowd in private investment.

“MOBILIST’s InfraCredit investment proved that public markets can be powerful vehicles for sustainable growth,” Ferguson noted. “The exit recycles capital for future projects while broadening local ownership of development-oriented enterprises.”

InfraCredit has benefited from technical and catalytic support from the FCDO, Financial Sector Deepening Africa (FSDA), British International Investments (BII), and the Private Infrastructure Development Group (PIDG). Together, these partners have played a vital role in de-risking local investment and advancing Nigeria’s green infrastructure financing ecosystem.

The UK government reaffirmed its ongoing collaboration with Nigeria to deepen domestic capital markets through partnerships with the Nigerian Exchange (NGX) and programmes like MOBILIST — supporting sustainable investment, inclusive growth, and market innovation.