United Capital Assets Surpass N2 Trillion, Eyes Expansion into 12 African Countries

United Capital Plc has announced ambitious expansion plans across 12 African nations and a strategic focus on bolstering its retail business, following a significant milestone of surpassing N2 trillion in assets under management. The financial services group has already made inroads into several African countries, including Rwanda and Ethiopia, and recently acquired a 5% stake in the Nigerian Exchange Group Plc as part of its long-term investment strategy.

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The rapid growth reflects increasing confidence from investors and clients in the company’s business operations.

Group Chief Executive Officer Peter Ashade shared these developments at the company's Investor Relations Roundtable in Lagos. He detailed United Capital's transformation since 2018 from a capital market operator into a diversified financial services entity with seven operating businesses and two associate companies. Ashade noted that assets under management, which were below N100 billion when he took office in July 2018, exceeded the initial N1 trillion target in 2022 and have now surged past N2 trillion.

The expansion into 12 African countries is aimed at creating long-term value for shareholders while simultaneously fostering economic integration across the continent. Ashade attributed the company's rapid growth to the increasing confidence shown by investors and clients in its operations. He also highlighted a substantial increase in shareholder value, exceeding 2,500% over the past eight years, coupled with consistent dividend payments.

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The expansion across Africa is intended to create long-term value for shareholders while supporting economic integration on the continent.

Looking ahead, United Capital plans to introduce several new products and strategic initiatives between August and December 2026. These efforts are designed to broaden its retail financial services offerings and enhance its technology platform. The company remains committed to investing in technology, research, risk management, and investor relations to ensure sustainable growth, pursuing expansion only in African markets that align with its long-term vision.

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ongoing economic reforms are creating investment opportunities across banking, construction, oil and gas, consumer goods and infrastructure.

Meanwhile, Group Chief Economist at United Capital, Ayodele Akinwunmi, provided an economic outlook, noting that ongoing reforms in Nigeria are creating investment opportunities across various sectors, including banking, construction, oil and gas, consumer goods, and infrastructure. Akinwunmi projected Nigeria's economy to grow by approximately 4% in 2026, though he stressed that stronger growth is necessary to achieve the nation's ambition of becoming a $1 trillion economy. He also pointed to Nigeria's emergence as a net exporter of refined petroleum products as a factor reducing import dependence, improving foreign exchange stability, and attracting investment.

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projected Nigeria’s economy would grow by about four per cent in 2026, although he noted that stronger growth would be required to achieve the country’s long-term ambition of becoming a $1 trillion economy.