Global Investor ACTIS takes majority stake in Nigerian pension firm Sigma

Lagos — ACTIS, a global pan-emerging markets investor, has acquired a majority stake in Sigma Pensions in a transaction valued at US$62 million.

Sigma is a leading pension fund administrator (PFA) in Nigeria.

Natalie Kolbe, Partner at Actis, said building on their extensive experience in the asset management and distribution sector, they were excited to be investing behind a growing consumer demand for future financial protection and well-being in Nigeria.

“In Sigma, we have identified a well-managed, solid business with ‘best in industry’ back office, IT and operational systems and excellent customer service that can leverage these underlying secular trends,” she said.

Tony Abakisi, Investment Principal from Actis’ Lagos office, said Sigma sat in an under-penetrated, well-regulated market and had excellent growth prospects.

The pensions industry in Nigeria remains significantly underpenetrated, with pension assets constituting only about 5 percent of gross domestic product.”We are excited to be investing in the Nigerian PFA industry and to be partnering with Mr Modibbo and a great management team to support growth initiatives, including extending the core business, enhancing the brand, and creating a platform for further expansion within Nigeria,” said Abakisi.Umaru Modibbo, is founder and Chief Executive Officer of Sigma Pensions.He was delighted to welcome Actis as […]