United Capital Plc is ready to expand across Africa following the acquisition of investment-banking licences in Ethiopia and Rwanda .
On Monday, the company became the first foreign institution approved to offer investment banking services in Ethiopia, including financial advisory, securities brokerage, and portfolio management.
“This marks a significant milestone in the development of the country’s emerging capital market ecosystem.
“The licence enables the group to establish operations in Ethiopia and participate in capital market activities, supporting market development while expanding access to its range of financial and investment solutions across the region,” the company said.
The company secured an operating licence in Ethiopia shortly after receiving regulatory approval from the Capital Market Authority to provide trust, investment banking, and portfolio management services in Rwanda.
The Group Chief Executive Officer of United Capital Group, Peter Ashade, said, “Ethiopia and Rwanda represent two of Africa’s most significant growth opportunities. We are pleased to receive these licences at an important moment in the region’s capital market development journey.
“This is also a significant milestone for our country, Nigeria, as we export our business expertise to Ethiopia and Rwanda as they open their doors to foreign players.
Ashade stated that the approvals suggested bilateral collaboration could significantly accelerate continental economic development.
“This is Africapitalism in action.
“Receiving the Ethiopian licence shortly after we enter into Rwanda and becoming the first foreign investment bank to receive this licence in Ethiopia demonstrates the confidence the market has placed in us.
“As an institution committed to Africa’s economic progress, we see capital markets as a critical catalyst and enabler for mobilising investment, supporting enterprise growth and unlocking long-term economic value.”
The group, according to Ashade, aims to use its expertise and track record to foster strong capital markets and efficient capital allocation to productive sectors in East Africa.
Ashade added that the group was committed to contributing meaningfully to building deeper, more inclusive and interconnected financial markets across Africa.
United Capital’s Director for Africa, Ejikeme Okoli, said that the licence to provide financial services in Ethiopia and Rwanda expanded the organisation’s footprint to 12 countries within West, East and Central Africa.
He said, “This milestone is significant not only for our institution but also for Nigeria and Africa as a whole, as it reflects the strengthening of long-term partnerships and collaboration across the African financial services sector.
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