VFD Group Launches ₦50.7 Billion Rights Issue to Drive Pan-African Growth

VFD Group Plc has unveiled plans for a ₦50.7 billion rights issue aimed at reinforcing its capital structure and accelerating expansion across Africa. The announcement was made during a signing ceremony, where company leadership emphasized that the capital raise is performance-driven, not a bailout.

At the ceremony, Group Managing Director and CEO Nonso Okpala stated that the rights issue would strengthen the group’s strategic growth prospects. Meanwhile, Chairman Olatunde Busari (SAN) expressed gratitude to shareholders, regulators, and advisers for their support.

The rights issue will offer new shares to existing investors, preserving ownership continuity while unlocking fresh capital. VFD has submitted an application to the Nigerian Exchange (NGX) through its stockbrokers to facilitate the transaction.

This capital-raising initiative is intended to support VFD’s cross-border ambitions and fuel further sector diversification as the group expands beyond Nigeria into regional markets.