About Us

Our History

Established in 1879 as a trading company, UAC has evolved to become an investment holding company active in 6 sectors of the Nigerian economy 

1879

The United African Company was formed from the merger of 4 companies trading on the River Niger

1880-86

National African Company Ltd took over the assets of The United African Company.Renamed to Royal Niger Limited

1900

Royal Niger's charter was revoked and its territories(Southern Nigeria protectorate) transferred to the British government

1914

The Southern Nigeria protectorate and the Northern Nigeria protectorate were united to form Nigeria

1919

The Niger Company was bought by Lever Brothers.

1929

The United Africa Company was formed by the joint agreements of The African and Eastern Trade Corporation and the Niger Company

1931-43

Incorporated in Lagos as Nigerian Motors Ltd. A subsidiary of The United Africa Company which later became UAC International. The company changes its name to United Africa Company Ltd in 1943

1948

Kingsway Stores was established. Nigeria's first chain of department stores

1965

Established MDS Logistics to provide warehousing services to UAC’s merchandising division

1974-77

40% of the company’s shares was acquired by Nigerians in 1974 and 20% in 1977 in compliance with the Nigerian Enterprises Promotion Act. Unilever’s stake in UACI was now 40%

1986- 91

Mr. Bigg’s was launched in 1986. UAC Ltd adopted the name UAC of Nigeria Plc in 1991

1992

UAC acquired 35.7% of CAP Plc from ICI Nigeria Ltd

1994

Unilever divested its interest in UAC to local investors

2010

Entered into strategic partnership with Tiger Foods in its packaged food and beverages segment

2013

Set up UPDC REIT, Acquires 51% of Portland Paints

2018-19

UAC transitions from a centrally run conglomerate to a lean holding company

2020

Sold controlling stake in MDS Logistics to Imperial Logistics

UAC Today

We are an evergreen investment holding company that aims to generate attractive long-term returns for investors by growing our businesses into market leaders in their respective segments.

Our investment approach is predicated on the following core principles:

Return Potential

We seek companies that show demonstrated ability to scale and can be transformed through the implementation of operational best practices

Management Team

We prioritise investing in companies with an innovative and collaborative management team which we will work with to drive growth and profitability

Sector Selection

We focus on sectors with long-term growth potential, skill based competition, sound business ethics and are cash generative

We help our companies excel by focusing on these pillars:

Leadership

Daniel Agbor

Chairman
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Folasope Aiyesimoju

Group Managing Director
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Ibikunle Oriola

Group Finance Director
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Vitus Ezinwa

Group Human Resources Director
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Bolaji Odunsi

Non-Executive Director
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Umaru Alka

Non-Executive Director
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Okechukwu Mbonu

Non-Executive Director
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Babatunde Kasali

Non-Executive Director
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Suzanne Iroche

Non-Executive Director
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Karl Toriola

Non-Executive Director
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Godwin Samuel

Company Secretary
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Folasope Aiyesimoju

Group Managing Director/CEO
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Ibikunle Oriola

Group Finance Director
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Bolarin Okunowo

Investment Executive
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Debola Badejo

INvestment Executive
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Vitus Ezinwa

Group Human Resources Director
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Godwin Samuel

Company Secretary/ Legal Adviser
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Funke Ijaiya-Oladipo

HEAD, INVESTOR RELATIONS
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