Sifax launches new financial services subsidiary

Taiwo Afolabi
Dr. Taiwo Afolabi, Group Executive Vice Chairman, SIFAX Group. PHOTO CREDIT: SHIPS & PORTS archive

By Oluwatoyin Amao

Sifax Group has launched a new subsidiary called the Sky Capital and Financial Allied International Limited, an investment and asset management firm that offers wealth creation opportunities through a unique blend of traditional investment management and alternative investment services.

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, insurance brokerage and credit assessment and analysis. 

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.

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, the Managing Director of Sifax Group, Adekunle Oyinloye, 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 Olubukola Abitoye as the General Manager of the company. 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). 

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