United Capital Secures Investment Banking Licenses in Africa

United Capital has achieved a major milestone by securing investment banking licenses in Ethiopia and Rwanda, enabling the Nigerian financial services group to provide full-scale investment banking services in these markets. Peter Ashad, the Group Chief Executive Officer of United Capital, described this achievement as a corporate breakthrough that reflects the evolving financial landscape in Africa.

United Capital is the first foreign institution to receive such licenses in Ethiopia, which is noted for its significant growth potential due to its large population of approximately 130 million people. The licenses were granted following regulatory reforms in both countries, with Ashad acknowledging the support from the governments of Rwanda and Ethiopia.

He emphasized the importance of cross-border cooperation and the role of regulatory authorities in facilitating this process. This expansion is part of a broader strategy to enhance intra-African investment flows and transform the financial market landscape across the continent.