Afrinvest was founded in 1994 as Securities Transactions & Trust Company (Nigeria) Limited (“SecTrust”) which grew to become Nigeria’s leading integrated research, brokerage and asset management firm. Over the years, SecTrust established a close relationship with its London-based partners (“Afrinvest Limited”), an investment banking firm regulated by the United Kingdom Financial Services Authority (“FSA”). Following commencement of its business restructuring in 2005, SecTrust combined with the Nigeria-based corporate finance business of Afrinvest (UK) Limited.