SIFAX Group Launches New Financial Services Subsidiary

Last updated Apr 12, 2019

In order to take full advantage of emerging opportunities in the financial sector in the country and across the West African territory, SIFAX Group has launched a new subsidiary, Sky Capital and Financial Allied International Limited.

Corporate Affairs Manager, SIFAX Group, Muyiwa Akande disclosed this in a statement made available to newsmen in Lagos on Thursday.

The new subsidiary is an investment and asset management firm that offers wealth creation opportunities through a unique blend of traditional investment management and alternative investment services.

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Some of the services that the new firm offers include strategic financial planning advice to SMEs, investment portfolio/funds management, bureau de change operations (BDC), foreign exchange (FOREX), insurance brokerage and credit assessment & analysis.

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The company will, in the second phase of its growth, also offers services like microfinance/consumer lending and corporate funding after licensing by relevant regulatory agencies has been finalised.

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Sky Capital and Financial Allied International Limited will also oversee the management of the commercial banks which SIFAX Group recently acquired in The Gambia and Sierra Leone.

Speaking on the newly-established firm, Mr. Adekunle Oyinloye, Group Managing Director, SIFAX Group, said the decision to invest in the financial sector was part of the company’s ongoing restructuring and strategic growth planning, aimed at diversifying the investment portfolio of the organisation.

To drive this new business, SIFAX Group has appointed Mrs. Olubukola Abitoye as the General Manager of the company.

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A seasoned banker and financial strategist who has previously worked at Skye Bank Plc, Stanbic IBTC Bank, United Bank for Africa and Keystone Bank Limited, Abitoye brings over a decade of professional experience to her new role.

She holds a Master’s degree in Business Administration from Charisma University, Turks and Caicos Island, North America in year 2014 and a Bachelor’s degree in Management and Accounting from Obafemi Awolowo University Ile-Ife, Osun State.

She is an associate member of Nigerian Institute of Management (NIM) and Institute Chartered Accountants of Nigeria (ICAN).