United Capital Plc Expands into Francophone West Africa through New Subsidiary

United Capital Plc has established its first operational foothold in Francophone West Africa with the launch of a new subsidiary in Abidjan, Cote d'Ivoire. This move marks the Lagos-based investment banking and financial services group's first major expansion outside Nigeria. United Capital Asset Management West Africa Limited (UCAMWAL) will serve as a regional hub for the company's expansion into the eight-member West African Economic and Monetary Union (WAEMU). The firm has secured regulatory approval to provide asset management services, including portfolio management, mutual funds, and financial advisory. This expansion is part of United Capital's broader ambition to entrench itself across the African continent and deliver long-term value and inclusive growth.

Key Takeaways:

• United Capital Plc has launched a new subsidiary, United Capital Asset Management West Africa Limited (UCAMWAL), in Abidjan, Cote d'Ivoire, marking its first major expansion outside Nigeria.
• The subsidiary will serve as a regional hub for the company's expansion into the eight-member West African Economic and Monetary Union (WAEMU), providing asset management services, including portfolio management, mutual funds, and financial advisory.
• The firm prioritizes investment in local talent, digital tools, and robust governance, aligning with the economic development goals of the member states and facilitating cross-border investment flows and broader regional integration.
• The expansion comes as Pan-African financial firms seek to deepen their reach beyond Anglophone markets, positioning themselves to tap into underpenetrated regions with growing demand for financial services.
• United Capital Plc operates through subsidiaries focused on asset management, securities trading, trusteeship, and consumer lending, aiming to replicate its pioneering status in new African markets.
• The company said the expansion reaffirms its mission to build a Pan-African financial institution capable of delivering innovative, client-focused investment solutions.

Statistics:

• United Capital Asset Management West Africa Limited (UCAMWAL) will serve clients in eight member states of the West African Economic and Monetary Union (WAEMU): Benin, Burkina Faso, Cote d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.
• The firm secured regulatory approval from the AMF-UMOA, the financial markets authority overseeing the WAEMU region, to provide asset management services.
• United Capital Plc was listed on the Nigerian Exchange (NGX) in 2013.

Sources:

• United Capital Plc statement on the NGX Friday
• Chika Mordi, chairman of United Capital Group's board
• Peter Ashade, Group CEO of United Capital Plc
• Nigerian Exchange (NGX)
• AMF-UMOA (financial markets authority overseeing the WAEMU region)