Nigeria: UBA Capital Halts African Expansion on Ebola Concerns

18 December 2014

UBA Capital Plc, an investment and asset management arm of United Bank for Africa, will halt its African expansion plan on concern about the spread of the outbreak of Ebola.

The company's shareholders voted to stop its regional expansion and to transfer N402 million of proceeds from a rights offer into infrastructure projects in Nigeria and working capital instead. UBA Capital also changed its name to United Capital Plc.

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