United Capital Expands into East Africa with Investment Banking Licences in Ethiopia and Rwanda
United Capital has recorded a major breakthrough in its African expansion strategy after securing investment banking licences in both Ethiopia and Rwanda, strengthening its footprint across the continent’s rapidly growing financial markets. The approvals position the Nigerian financial services group as a key player in East Africa’s evolving investment landscape.
In a landmark achievement, United Capital became the first foreign institution to receive authorisation to provide investment banking services in Ethiopia. The licence allows the company to offer financial advisory services, securities brokerage, and portfolio management, marking a significant step in the development of Ethiopia’s emerging capital market sector.
The approval paves the way for United Capital to establish operations in Ethiopia and contribute to the country’s financial market growth. It will also enable the firm to extend its range of investment and wealth management solutions to businesses, institutions, and investors seeking opportunities in one of Africa’s fastest-growing economies.
According to the Ethiopian Capital Market Authority, the licence was granted following an extensive regulatory review process involving multiple government agencies and detailed cross-border due diligence. The development comes just weeks after United Capital received approval from Rwanda’s Capital Market Authority to provide trust services, investment banking, and portfolio management services in the country.
Reacting to the milestone, Group Chief Executive Officer of United Capital Group, Peter Ashade, described Ethiopia and Rwanda as two of Africa’s most promising investment destinations. He noted that their youthful populations, strategic trade positions, and ongoing economic reforms continue to attract foreign investors. Ashade added that the expansion reflects Nigeria’s growing influence in exporting financial expertise across Africa and demonstrates how stronger regional collaboration can accelerate economic development, describing the achievement as “Africapitalism in action.”
source: The Guardian