United Capital Expands Investment Banking to East Africa

United Capital has successfully expanded its operations into East Africa by acquiring investment banking licenses in Ethiopia and Rwanda. This achievement marks United Capital as the first foreign institution licensed to provide investment banking services in Ethiopia, which includes financial advisory services, securities brokerage, and portfolio management.

The Ethiopian Capital Market Authority approved the license after a comprehensive regulatory review involving multiple government institutions. This expansion is a significant milestone in the development of the capital market ecosystem in Ethiopia and reinforces United Capital's strategic footprint across East and Central Africa.

Peter Ashade, the Group Chief Executive Officer of United Capital, noted that Ethiopia and Rwanda represent two of Africa's significant growth opportunities. The licenses were issued following extensive scrutiny of the company's financial strength and compliance standards, reflecting the evolving financial landscape in Africa.

Ejikem Okoli, Director of Africa Operations at United Capital, emphasized the importance of cross-border cooperation in achieving this corporate breakthrough.