United Capital Plc has reaffirmed its commitment to expanding its footprint across Africa, revealing that it has become the first African financial services institution to secure regulatory registration in both Rwanda and Ethiopia as part of its long-term Pan-African growth strategy.
Group Chief Executive Officer, Peter Ashade, disclosed this while speaking on the company’s performance and strategic direction, noting that the group’s assets have grown to more than N2.2 trillion, reflecting growing confidence from clients, investors, regulators and other stakeholders.
According to him, the company’s sustained growth is underpinned by the trust reposed in the institution by its customers, shareholders, business partners and the media.
“The growth we are witnessing is a reflection of the confidence that clients, investors and stakeholders have in United Capital.
“We also appreciate the role of the media in shaping public perception because many investors rely on credible reporting to make informed decisions,” he said.
Ashade said the company deliberately pursued expansion into Rwanda and Ethiopia, describing the move as a strategic milestone that took more than a year of engagement with regulators in both countries.
He explained that United Capital is now the first African financial services institution registered in the capital market segment in Rwanda and the first Nigerian financial services firm to establish such a presence in Ethiopia, where no Nigerian bank currently operates.
He said the expansion is driven by a broader vision of promoting African economic integration rather than simply growing the company’s business.
“When we expand into Africa, we are not representing United Capital alone; we are representing Nigeria. We believe in Nigeria’s leadership role on the continent, and we also believe that the time has come for Africa to deepen economic integration.
Africa is now, and we are committed to contributing to that journey,” Ashade stated.
The Group CEO also highlighted the company’s strong financial performance, noting that its balance sheet has recorded significant growth over the years while shareholder value has increased substantially.
According to him, an internal review showed that United Capital has delivered more than 2,500 per cent growth in shareholder wealth over the past eight years, a performance he said is supported by publicly available market data.
Ashade said the company has consistently prioritized shareholder returns through a disciplined capital allocation strategy and an enhanced dividend policy.
He noted that while the company did not pay interim dividends before 2018, it has consistently declared interim dividends over the past three years, demonstrating its commitment to rewarding investors.
“Every major business decision we make is guided by the interests of our shareholders. Creating sustainable value for investors remains one of our highest priorities,” he said.
The United Capital CEO expressed confidence that the company’s market valuation does not yet fully reflect its intrinsic value but said ongoing strategic initiatives and future growth plans would unlock greater value for shareholders.
He also disclosed that the group has significantly strengthened its corporate governance framework since 2018 through structural reforms and leadership changes.
According to him, United Capital now operates with a more robust governance structure, supported by executive leadership overseeing both front-office and back-office operations, alongside chief executive officers heading each of its seven business subsidiaries.
Ashade said the strengthened governance framework positions the group to sustain its growth trajectory while supporting its ambition of becoming a leading Pan-African financial services institution.
Also speaking at the company’s H1 2026 Investors and Analysts Call, The Group Chief Finance Officer of United Capital Plc is Shedrack Onakpoma said the Group remains optimistic about its growth prospects despite a challenging global macroeconomic environment, citing its diversified business model, expanding digital ecosystem, robust capital position, and strategic investments as key drivers of future performance.
Onakpoma said the group’s strategic priorities for the remainder of the year include strengthening market leadership across its operating segments, accelerating digital transformation through technology and automation, expanding its presence across Africa, enhancing customer experience, embedding sustainability into its operations, and maintaining a resilient risk management framework.
United Capital also identified six high-impact initiatives that will shape execution in 2026.
These include expanding its African footprint, accelerating assets under management (AUM) growth, developing innovative financial products, improving operational efficiency through technology, driving financial inclusion, and leveraging strategic partnerships to broaden market reach.
Management noted that while global economic conditions remain uncertain, the company expects investment opportunities to emerge across key markets.
It projected that elevated global yields would likely persist amid inflationary pressures, while advances in artificial intelligence are expected to continue supporting equity market performance, particularly in the United States and Asia.
The Group also expects increased competition for deposits to raise funding costs but believes its diversified earnings base positions it to navigate the environment effectively.
The positive outlook follows a robust financial performance in the first half of the year.
United Capital reported gross earnings of N37.49bn, up significantly from N23.76bn recorded in the corresponding period of 2025, while profit before tax rose to N24.78bn from N13.79bn.
Profit after tax climbed to N21.10bn from N11.89bn, reflecting strong growth in investment income, fee and commission income, and trading activities.
The Group also recorded marked improvements in key profitability indicators. Return on Equity increased to 25.03 per cent from 16.77 per cent, Return on Assets rose to 2.48 pervcent from 1.37 percent, while earnings per share advanced to N2.34 from N1.32, underscoring improved returns to shareholders.
Across its business segments, United Capital reported continued momentum.
Its Investment Banking division maintained leadership in debt and equity capital markets, advising on several landmark transactions, including the N501.2bn NBET Finance Company Plc bond issuance, a N157bn rights issue for United Bank for Africa, and multiple commercial paper programmes for leading corporates.
The Asset Management business continued to strengthen its market position, managing over N1tn in assets on behalf of more than 100,000 retail and institutional investors.
The business also highlighted more than 350 per cent growth in mutual fund assets since 2021 and the successful launch of Nigeria’s first children-focused mutual fund, reinforcing its commitment to innovation and financial inclusion.
United Capital Securities also delivered a strong performance during the period, recording 64 per cent year-on-year revenue growth and 100 per cent growth in profit before tax.
The business traded shares worth N287.6bn during the first half, ranking seventh on the Nigerian Exchange’s Top 10 trading firms.
Similarly, the Wealth Management business reported continued expansion, with assets under management for its UC Octus offshore equities product increasing by 55 per cent year-to-date to N7.47bn, while its Investment Planning product more than doubled to N27.6bn.
Wealth Management’s core business revenue also exceeded ₦2 billion during the second quarter.
(The Whistler)