VFD Group Demonstrates Financial Resilience and Growth Trajectory
VFD Group Plc, a diversified financial services group, held its 9th Annual General Meeting (AGM) virtually on Thursday, marking a significant milestone in its journey of financial resilience and growth. The AGM served as a platform to announce robust financial performance, strategic expansion plans, and a commitment to rewarding shareholders. Key highlights of the meeting included the approval of a substantial dividend payout, the issuance of bonus shares, and an overview of the Group’s impressive financial performance for the 2024 financial year and the first quarter of 2025. These achievements underscore the Group’s dedication to creating long-term value for its shareholders and solidifying its position as a leading player in the African financial landscape.
The shareholders’ approval of a N3.17 billion dividend payout, translating to N2.50 per share, reflects the Group’s strong financial performance and commitment to rewarding investors. This significant return on investment demonstrates the effectiveness of the Group’s strategic initiatives and its ability to generate sustainable profits. Furthermore, the endorsement of a five-for-one bonus share issuance further enhances shareholder value and underscores investor confidence in the Group’s future prospects. These actions signify the Group’s dedication to fostering a mutually beneficial relationship with its shareholders and aligning their interests with the company’s growth trajectory.
VFD Group’s financial performance in 2024 marked a remarkable turnaround, with a profit of N11.3 billion. This achievement represents a significant recovery from the challenges faced in 2023, highlighting the Group’s resilience and adaptability in navigating economic headwinds. The strong performance can be attributed to several factors, including enhanced governance, disciplined execution, and a sharper focus on risk management. The Group’s leadership implemented strategic measures to optimize its portfolio and strengthen risk controls, leading to improved financial outcomes. This turnaround demonstrates the effectiveness of the Group’s strategic adjustments and its ability to capitalize on emerging opportunities.
The positive momentum continued into the first quarter of 2025, with the Group reporting a profit of N4 billion, representing a N1 billion increase compared to the same period in the previous year. This sustained growth trajectory underscores the effectiveness of the Group’s long-term strategy and its ability to generate consistent profits. The improved performance is driven by several key factors, including growth in recurring income, increased trading volumes, higher investor engagement, and enhanced system resilience. These positive trends indicate a strong foundation for continued growth and success in the future.
VFD Group’s strategic expansion plans focus on leveraging its strong balance sheet to invest in various sectors across the African continent. The Group is exploring opportunities in fintech infrastructure, capital market platforms, and real estate, with a particular focus on West and East Africa. This expansion strategy reflects the Group’s ambition to capitalize on the growth potential of African markets and diversify its investment portfolio. The Group’s leadership has identified key markets with promising growth prospects and is actively pursuing strategic investments to expand its footprint and enhance its market share. This expansion strategy demonstrates the Group’s commitment to long-term growth and its vision to become a leading pan-African financial services provider.
The success of VFD Group’s turnaround and growth strategy can be attributed to the strong leadership of its Board and management team. The Chairman of the Board, Olatunde Busari, emphasized the importance of sharper risk controls, tighter portfolio alignment, and disciplined execution in achieving the Group’s remarkable performance. He also highlighted the Group’s commitment to transparency and accountability, which have played a crucial role in building investor confidence and driving sustainable growth. The Group Managing Director, Nonso Okpala, outlined the Group’s regional expansion plans, emphasizing the focus on scaling the ecosystem across various sectors and geographies. The Executive Director, Finance, Risk and Compliance, John Okonkwo, provided insights into the key drivers of the Group’s improved financial performance, highlighting the importance of de-risked exposure, stronger compliance, and an optimized investment mix. These collective efforts demonstrate the Group’s strong leadership and its ability to execute its strategic vision effectively.
