United Capital Plc, the Lagos-based investment banking and financial services group, has established its first operational foothold in Francophone West Africa with the launch of a new subsidiary in Abidjan, Côte d’Ivoire.
The unit, 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 secured regulatory approval from the AMF-UMOA, the financial markets authority overseeing the WAEMU region, to provide asset management services including portfolio management, mutual funds, and financial advisory.
“This marks our first major move establishing a physical office and regional headquarters outside Nigeria,” said Chika Mordi, chairman of United Capital Group’s board, in a statement on the NGX Friday.
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“Côte d’Ivoire stands out as a dynamic economy with a progressive financial landscape, making it the ideal gateway to expand our footprint across Francophone West Africa.”
The move signals a broader ambition by United Capital to entrench itself across the African continent. UCAMWAL will serve clients in Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.
Group CEO Peter Ashade said the expansion aims to deliver long-term value and inclusive growth across the WAEMU bloc. “This is about creating a lasting impact,” he said.
“We are committed to partnering with local economies, governments, and institutions to unlock long-term prosperity.”
The Lagos-based firm will prioritise investment in local talent, digital tools, and robust governance as it rolls out services tailored to regional investors.
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The company’s strategy includes aligning with the economic development goals of the member states, while facilitating cross-border investment flows and broader regional integration.
The move 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, which was listed on the Nigerian Exchange in 2013, operates through subsidiaries focused on asset management, securities trading, trusteeship, and consumer lending. It was the first investment bank listed on the Nigerian Exchange and is aiming to replicate that 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.
