United Capital Secures Investment Banking Licences in Ethiopia, Rwanda, Deepens Pan-African Expansion

United Capital PLC has achieved a major milestone in its pan-African expansion strategy by securing investment banking licenses in Ethiopia and Rwanda. This development positions the Nigerian financial services group as the first foreign institution to be granted a license for full-scale investment banking operations in Ethiopia.

“

It is indeed a whole lot worth celebrating, not just for us at United Capital, but for the entire Federal Republic of Nigeria. Because when a Nigerian institution becomes the first foreign firm to enter a market like Ethiopia in investment banking, it is a statement about what Nigeria can export in terms of capacity and professionalism.

The approvals empower United Capital to provide a comprehensive suite of services, including financial advisory, securities brokerage, and portfolio management. This strategic move is expected to deepen capital market participation and broaden access to investment solutions across the continent, aligning with the company's ambition to be a leading financial player in Africa.

“

I think first and foremost, I must thank the government of Rwanda and Ethiopia for creating this platform. Without the platform they created, we would not be able to take up this opportunity. They have created a transformational agenda that is driving financial market development in those countries.

Group Chief Executive Officer Peter Ashade highlighted the achievement as a corporate breakthrough and a testament to Africa's evolving financial landscape. "When a Nigerian institution becomes the first foreign firm to enter a market like Ethiopia in investment banking, it is a statement about what Nigeria can export in terms of capacity and professionalism," Ashade stated. He emphasized Ethiopia's significance as a major growth market, noting its large population and ongoing economic transformation.

“

The leadership has been quite instrumental. I must appreciate the Ethiopian Capital Market Authority, the Rwanda Capital Market Authority, and the National Bank of Rwanda. One of our licences in Rwanda is a trust licence issued by the central bank, and that engagement was very important in the process.

Ashade attributed the successful acquisition of the licenses to reforms and strong regulatory collaboration in both Ethiopia and Rwanda. He specifically thanked the Ethiopian Capital Market Authority, the Rwanda Capital Market Authority, and the National Bank of Rwanda for creating a conducive platform for financial market development. The Nigerian Securities and Exchange Commission and Nigerian Exchange Limited were also acknowledged for their support.

“

I also want to appreciate the Nigerian leadership of the Securities and Exchange Commission and the Nigerian Exchange Limited. We are a listed company, and they supported us along the way. They were aware of our engagements, and they