United Capital Expands Investment‌ Management Role in West Africa

‌ ‌ Updated May 31, 2025

Nigeria’s United Capital⁣ Group, a leading investment banking and financial services institution, has broadened its ⁣Pan-African presence by launching​ United Capital ⁣Asset​ management West Africa Limited‌ in Abidjan, Côte d’Ivoire. This move marks United Capital as the first ​Nigerian investment management group licensed by the⁤ financial Markets Authority of the⁤ West African Economic & monetary ‌Union (AMF-UMOA).

The license⁤ allows the group to ⁤offer investment management services, including portfolio management, mutual funds, ⁤and‌ financial advisory ‌services, in Benin, Burkina ‌Faso, Côte‌ d’Ivoire, ⁤Guinea-Bissau, Mali, Niger, Senegal,‍ and Togo. With its regional headquarters in Abidjan, United Capital⁤ aims ⁣to ⁢provide tailored⁤ financial services to ‍the region’s economic needs.

The launch​ event​ in Abidjan drew dignitaries and industry leaders, ​including Dr.emomotimi Agama, Director-General of the​ Securities and Exchange Commission (SEC), Ibrahim Magassa, Chairman of Algest Consulting, and Yvon Sana Bangui, Governor of the Bank of Central African States.

Tony O. Elumelu,‍ Chairman‌ of Heirs ​Holdings Group, hailed⁤ the expansion as “history in the making,”⁣ emphasizing the group’s dedication to African ​excellence. He anticipates United Capital Asset Management West Africa will accelerate economic progress and job creation.

the board and‍ management team for the ⁢new venture include:

• Peter Ashade – Board Chairman
• Sunny⁣ Anene ​- Non-executive ‍Director
• sarata Kone ‌Thiam – Non-executive director
• Mamadou Traoré – Self-reliant Board Director
• Ejikeme Okoli – Director of African Operations
• Labas Bamba – Chief Executive Officer

Bamba‍ said United Capital Group’s decision to locate its subsidiary in Côte d’Ivoire reflects the strength of the Ivorian economy and its strategic position within the ‌WAEMU ⁣region. He added that Abidjan provides an ideal base to ⁢replicate their Nigerian success across ⁤Francophone west Africa.

Peter Ashade, ⁤Group Chief‌ Executive ‍Officer​ of United Capital Plc, said the expansion is about making an impact by collaborating with local economies and governments to build⁣ a more prosperous Africa. He emphasized the vision ⁤of generational ‍wealth​ creation and sustainable development.

What’s next

United Capital Asset ⁢Management West Africa Limited (UCAMWAL)⁢ seeks to become a key ‍investment⁣ partner in Francophone West Africa, fostering regional integration and shaping the future of finance in Africa. The company’s expansion underscores United Capital’s role as a Pan-African powerhouse, driving investment flows and innovation.