Economy
Alta Semper Quits Egypt’s Macro Group Pharmaceuticals
By Aduragbemi Omiyale
After the successful competition of its initial public offering (IPO), Alta Semper Capital has exited Macro Group Pharmaceuticals, a leading cosmeceuticals manufacturer in Egypt.
Since Macro Group became a portfolio holding of Alta Semper in 2017, the latter has supported the former in nearly doubling its market share.
Today, its diversified portfolio encompasses 112 products across a variety of high-growth therapeutic areas, with Alta Semper boosting Macro’s top line to $27 million by the end of 9 months of 2021, three times its 2017 revenues, while ensuring profitability and increasing its EBITDA and bottom-line to $11 million and $10 million respectively during the same period, nearly 3x its 2017 levels.
It was learned that shares of Macro Group began trading on February 10, 2022, in a Reg S, 144 A initial public offering under the symbol MCRO:CA on the Egyptian Exchange and the final offer price stood at EGP 4.85 per ordinary share or 2.8 bn EGP (equivalent to $178 million).
The co-founder and CEO of Alta Semper, Afsane Jetha, while commenting on the development, stated that, “We are proud of our successful journey with Macro Pharmaceuticals and its tremendous growth on the financial, operational, organizational and social impact level during the tenor of our partnership.
“It has been a pleasure working alongside such a skilled and motivated management team as they established a leadership position in Egypt’s burgeoning cosmeceutical space, and we congratulate them on their continued success.”
On his part, the Managing Director and Head of North Africa for Alta Semper, Mr Ahmed Rady, who also serves as Vice Chairman of Macro Group, disclosed that, “Since our investment in 2017, we have worked alongside Macro’s relentless management team to supercharge sustainable growth, expand operating margins, and lay the foundations for a more impressive future.
“We have successfully grown gross profit margin from 63% in 2018 to 80% in 9M 2021, grown EBITDA margin from 21% in 2018 to 41% in 9M 2021, and have achieved an impressive EBITDA CAGR of 89% over the period of 2018 to 2020. In an industry that is witnessing transformational growth, we believe Macro Group will continue to shape what is a thriving and rapidly expanding market.”
Alta Semper’s shareholder base has played a strategic role in improving Macro Group’s financial capabilities, as well as its sustainability and governance practices.
The firm’s investors include institutions such as the International Finance Corporation, the investment arm of the World Bank, IDI Emerging Markets, and Mbuyu Capital Partners, in addition to expert individuals such as former Citigroup Chairman Richard Parsons and businessman and philanthropist Ronald Lauder, heir to the Estée Lauder cosmetics company.
“It is gratifying to see this positive investment outcome for a company dedicated to improving quality of life for millions of Egyptians,” said Richard Parsons, Founding Shareholder and Chairman of the Investment Committee of Alta Semper. “We have a longstanding commitment to investing on the African continent for positive change. The success of Macro Group is emblematic of the type of outcome we seek.”
Ronald Lauder, a Founding Shareholder of Alta Semper, added that “Our mission as investors is to advance entrepreneurial activity across Africa in a manner that serves as a catalyst for sustainable development and broadly improves the quality of life on the continent.”
Macro Chairman and Co-founder, Dr. Ahmed El Nayeb, concluded “I am extremely proud of the organization we have built over the last 18 years, from its humble beginnings to becoming the market leader in Egypt’s cosmeceutical space and the first of its kind to go public in Egypt. The IPO marks yet another significant milestone for our business and we will continue to deliver on our vision of regional leadership within the cosmeceuticals and nutraceuticals space.”
Alta Semper has overseen Macro Group’s Environmental, Social and Governance enhancements, which has resulted in increased female workforce representation with women comprising 42% of total staffing and occupying 18% of senior management positions.
Community outreach through Medical Convoys in collaboration with the Egyptian Ministry of Health has directly benefitted over 8,000 patients since 2017. With an eye on Sustainable Development Goals, the Company has been able to deploy training programs outside of the urban centre of Cairo, across more rural areas in Upper Egypt and the Delta.
In tandem, Environmental practices have been improved through energy efficiency initiatives, waste minimization and switching to raw materials with a lower environmental impact. Macro remains committed to enhancing its ESG practices as well as striving to contribute to the enhanced achievement of the Sustainable Development Goals in the years to come.
Learn more at www.altasemper.com.
By Modupe Gbadeyanka
A subsidiary of Stanbic IBTC Holdings Plc, Stanbic IBTC Trustees, has affirmed its leadership in delivering customer-centric fiduciary and investment solutions across the region.
The company said this after it was recently recognised as the Most Customer-Focused Trust and Investment Company of the Year for Nigeria at the 2025 West Africa Innovation Awards (WAIA).
The honour bestowed on the trustee for Customer Service Excellence reinforces its reputation for delivering exceptional client experiences, driven by innovation, integrity, and a deep understanding of the evolving financial needs for their clients.
“Being recognised as the most customer-focused trust and investment company of the year is both humbling and inspiring.
“This award reflects the strong relationships we have built with our clients and our commitment to not only meet expectations but to consistently exceed them through innovative and ethical service delivery,” the chief executive-designate of the organisation, Ms Emi Agaba-Oloja, stated at the award ceremony held in Lagos.
“What sets Stanbic IBTC Trustees apart is our willingness to embrace innovation in a traditionally conservative industry.
“As we work on digital onboarding to bespoke trust solutions, we strive to simplify complex processes and deliver insights that empower our clients.
“Our goal is to make trusteeship more responsive, inclusive, and accessible to Nigerians. A sincere thank you to our clients, partners and the incredible team that continue to drive our success,” she added.
The West Africa Innovation Awards, now in their 14th year, is a leading regional platform that is attended by a wide range of government stakeholders, brand experts, and corporate leaders in West Africa.
As the field of wealth management and trust services undergoes constant transformation, Stanbic IBTC Trustees says it remains at the forefront, redefining standards and demonstrating a commitment to empathy and innovation, stressing that the award reinvigorates a drive to empower clients and protect legacies for future generations.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange increased by 0.27 per cent week-on-week in Week 16 of the 2025 trading year.
Data indicated that the bourse’s market capitalisation rose by N5.15 billion in the four-day trading week to N1.924 trillion from the N1.919 trillion it ended in the previous week and the NASD Unlisted Securities Index (NSI) went up by 8.81 points to 3,286.38 points from the 3,277.57 points recorded in the previous trading week.
The alternative stock exchange opened for business for four days as it closed shop on Friday to celebrate Good Friday, observed by Christians across the globe,
The value of trades in the week was down by 99.4 per cent to N29.35 million from the N4.79 billion recorded in Week 15, and the volume of transactions declined by 99.2 per cent to 1.33 million units from the 171.4 million units in the previous week.
The most active security by value was Central Securities Clearing System (CSCS) Plc with N15.2 million, FrieslandCampina Wamco Nigeria Plc recorded N6.3 million, 11 Plc traded N2.2 million, Nipco Plc posted N1.3 million, and Afriland Properties Plc reported N0.616 million.
Also, CSCS Plc was the most traded instrument by volume with 0.731 million units, FrieslandCampina Wamco Nigeria Plc transacted 0.227 million units, Geo-Fluids Plc recorded 0.218 million, Paintcom Investment Plc traded 0.055 million units, and Afriland Properties Plc exchanged 0.035 million units.
Last week, there were five price gainers led by Newrest Asl Plc, which appreciated by 9.9 per cent to N37.97 per share versus N34.52 per share, UBN Property Plc gained 9.6 per cent to end at N2.17 per unit versus N1.98 per unit, FrieslandCampina Wamco Nigeria Plc rose by 5.9 per cent to N37.64 per share from N35.55 per share, Mass Telecom Innovation Plc improved by 2.5 per cent to 41 Kobo per unit from 40 Kobo per unit, and 11 Plc surged by 1.9 per cent to N245.50 per share from N241.00 per share.
On the flip side, Geo-Fluids Plc slipped by 10.00 per cent to N1.80 per unit from N2.00 per unit, and CSCS Plc depreciated by 2.6 per cent to N22.10 per share from N22.70 per share.
By Adedapo Adesanya
Celebrities, including musicians and influencers, have been warned by the Securities and Exchange Commission (SEC) against promoting unregistered investment schemes following the recent collapse of Crypto Bridge Exchange (CBEX).
In a statement made available to the press on Sunday, the commission stated that those who promote such schemes risk legal consequences.
The warning comes following the enactment of the Investments and Securities Act 2025, signed into law by President Bola Tinubu.
Explicitly defining Ponzi schemes, the new law empowers the SEC to impose a minimum fine of N20 million and a jail term of 10 years on promoters of such schemes.
SEC’s Director-General, Mr Emomotimi Agama, who spoke on the provisions of the new law, said the regulator was collaborating with the Economic and Financial Crimes Commission (EFCC), the Nigeria Police Force, and other law enforcement agencies to investigate and prosecute violators.
“The law also targets influencers and bloggers who promote fraudulent schemes, with clear penalties including imprisonment.
“We are therefore using this medium to warn such persons to desist from promoting unregistered entities,” Mr Agama stated.
He added that following the collapse of CBEX, a digital investment platform that allegedly defrauded Nigerians over billions, the SEC has intensified its crackdown on Ponzi operators.
“We will shut down their operations and the promoters will be made to face the full weight of the law,” he said.
Business Post reports that celebrities and influencers are often major promoters of these schemes and in the past many of them have put Nigerians at losses. One such prominent case was Racksterli, founded by Mr Michael Chidiebere Oti known as Black Gold and was promoted by top Nigerian musicians and actors which promised high return of up to 40 -50 per cent monthly.
However, the platform collapsed in 2021, leaving many investors without their capital or promised returns.
At that time, affected individuals called for the arrest of these celebrities for their roles in endorsing the Ponzi scheme.
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