United Capital Group has expanded its operations into East Africa after securing investment banking licences in Ethiopia and Rwanda, a move the company says strengthens its pan-African growth strategy and deepens its footprint across the continent.
The financial services group said the approvals make it the first foreign institution licensed to provide investment banking services in Ethiopia, including financial advisory, securities brokerage and portfolio management services.
According to the company, the licence will enable it to establish operations in Ethiopia and participate in the country’s emerging capital market ecosystem while extending its financial and investment solutions across the region.
United Capital noted that the approval by the Ethiopian Capital Market Authority followed an extensive regulatory review process involving multiple government agencies and cross-market due diligence.
ADVERTISEMENT
READ ALSO: UK Tops Capital Inflows Into Nigeria In Q3 2025 — NBS
The development comes shortly after the company secured approval from the Capital Market Authority in Rwanda to provide trust services, investment banking and portfolio management services, further expanding its presence in East and Central Africa.
Speaking on the development, the Group Chief Executive Officer of United Capital, Peter Ashade, described Ethiopia and Rwanda as key growth markets for the company.
He said the two countries present significant opportunities due to their strategic location, youthful populations and ongoing economic reforms that continue to attract foreign investments.
“This is also a significant milestone for our country, Nigeria, as we export our business expertise, for Ethiopia and Rwanda as they open their doors to foreign players, and to the African continent indicating that bi-lateral collaboration can be a major catalyst for accelerating economic development on a continental scale. This is Africapitalism in action,” Ashade said.
He also commended Ethiopian Prime Minister, Abiy Ahmed, and Rwandan President, Paul Kagame, for implementing reforms and policies aimed at strengthening the financial services sector in their respective countries.
ADVERTISEMENT
According to him, becoming the first foreign investment bank to obtain a licence in Ethiopia reflects the confidence reposed in the company and reinforces its commitment to supporting capital market development across Africa.
Ashade added that United Capital intends to leverage its expertise to facilitate investment flows, support enterprise growth and contribute to the development of deeper and more interconnected financial markets on the continent.
Also commenting, United Capital’s Director for Africa, Ejikeme Okoli, said the new approvals have expanded the company’s presence to 12 African countries across West, East and Central Africa.
“With our business expertise spanning over six decades of experience doing business and providing financial services across Africa, we bring deep expertise, a proven track record, and unique capabilities to accelerate the development of the Eastern African financial markets,” he said.
Okoli described the development as significant for both Nigeria and the wider African continent, noting that it demonstrates growing collaboration within Africa’s financial services industry.
ADVERTISEMENT
He said the company’s expansion reflects its belief that African capital, mobilised through African institutions and regulated within African frameworks, remains the most sustainable pathway to the continent’s economic prosperity.
With the latest approvals, United Capital now operates in 12 African countries, including Nigeria, with an expanding presence across the West African Economic and Monetary Union region as well as East Africa.
The company said the expansion aligns with its commitment to serving governments, institutions, businesses and investors through a broad range of financial services while supporting efforts to deepen Africa’s integrated capital markets.
