AFRICA PRUDENTIAL PLC Company Profile

AFRICA PRUDENTIAL PLC

Africa Prudential Plc stands as a prominent Registrar, Investor Services, and Business Support solutions provider, boasting nearly five decades of exceptional experience in the Nigerian Capital Market. Currently managing a portfolio of over 80 corporate clients, the company has been a key player in the industry since its inception in 1970.

Originally established as a department within the legacy of United Bank for Africa Plc (UBA), Africa Prudential Plc has evolved significantly over the years. It began its journey by managing the register of members for UBA's Initial Public Offering (IPO) in 1970 and expanded its scope to handle 17 client companies with a total asset of N1.4 billion by 2006. Having celebrated 51 years of existence, the company was formally incorporated in 2006 as UBA Registrars Limited, a subsidiary of UBA Plc.

The incorporation marked a turning point for Africa Prudential, leading to increased business development initiatives. By 2006, its total assets had surged to N14.1 billion, serving a client base of 50 companies. Following UBA Plc's divestment from the registrar business in 2012, Africa Prudential Registrars Plc emerged as a fully autonomous entity, strategically positioned for listing on the Nigerian Stock Exchange (NSE).

On January 11, 2013, the company achieved a historic milestone by becoming the first registrar firm to list one billion units of shares on the NSE at N1.59, with close to 300,000 shareholders. Subsequently, a Rights Issue for an additional one billion ordinary shares was fully subscribed, reflecting strong investor confidence. In the same year, the acquisition of UAC Registrars Limited, Nigeria's largest conglomerate registrar, further propelled Africa Prudential's growth, reaching a total asset value of N18 billion.

In 2017, the company embarked on a diversification strategy into the digital technology space, leading to a rebranding initiative. Dropping the word 'registrar,' it became Africa Prudential Plc, aligning with its commitment to harness emerging potentials, uphold service promises, and maximize possibilities for stakeholders.

Continuing its digital technology drive, Africa Prudential launched an Innovation Lab, focusing on cloud computing, cybersecurity, tech startup acceleration programs, development of various tech platforms for the capital market, automated registrar services, and the provision of Software as a Service (SaaS).

The company's excellence has been recognized through various awards, including the 2019 Innovative Share Registrar Company of the Year, 2019 Registrar of the Year Award, and distinctions such as the Best Profit Margin Ratio Company and Best Corporate Governance Company in Nigeria at the 2015 PEARL AWARDS. Notably, Africa Prudential Plc received the International Quality Crown Award in London in 2013 and was honored as the Investor Relations Provider of the Year in 2019. Additionally, it earned the title of the Best Registrar Firm in West Africa at the 2017 West Africa Innovation & Excellence Awards. The company's leadership has also been acknowledged with the BusinessDay Top 25 CEOs Award in 2014 and 2015.