United Capital Secures Investment Banking Licences in Ethiopia and Rwanda, Expanding East Africa Footprint

United Capital Plc has taken a bold step in its continental expansion strategy after securing investment banking licences in Ethiopia and Rwanda, strengthening its position as one of Africa’s leading financial services groups. The approvals mark a significant milestone in the company’s ambition to deepen its presence across emerging African capital markets.

With the new licences, United Capital becomes the first foreign institution authorised to provide investment banking services in Ethiopia. This includes financial advisory, securities brokerage, and portfolio management services, giving the firm a strong entry into one of Africa’s fastest-developing financial ecosystems.

According to regulatory authorities in Ethiopia and Rwanda, the approvals followed detailed assessments and cross-market due diligence. In Rwanda, the Capital Market Authority has also granted United Capital permission to operate trust services, investment banking, and portfolio management services, further solidifying its regional expansion strategy.

Reacting to the development, Group Chief Executive Officer, Peter Ashade, described the approvals as a defining moment for both the company and the continent. He noted that Ethiopia and Rwanda represent high-growth investment destinations driven by reforms, a youthful population, and increasing foreign investor interest. He also emphasized that the move reflects Africa’s growing capacity for intra-continental financial collaboration.

With operations now spanning 12 African countries, United Capital says its expansion aligns with a broader vision to build stronger, more integrated capital markets across the continent. The Group reaffirmed its commitment to mobilising African capital for African development, describing the expansion as a practical example of “Africapitalism” in action.

source: punch