United Capital Plc has announced the establishment of a new subsidiary, United Capital Asset Management West Africa Limited (UCAMWAL) in Abidjan, Côte d’Ivoire.
In a filing on the Nigerian Exchange Group (NGX) on Friday, the company said it secured a license from the Autorité des Marchés Financiers de l’Union Monétaire Ouest Africaine (AMF-UMOA), the financial markets regulator for the West African Economic and Monetary Union (WAEMU), to operate as a regional asset management company.
With its regional headquarters now located in Abidjan, the company said UCAMWAL is authorised to provide portfolio management, mutual funds, and financial advisory services across all eight member countries of WAEMU.
The countries are Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.
Advertisement
Speaking on the significance of the move, Chika Mordi, chairman of United Capital Group, described the launch as a pivotal moment for the company.
“The launch of UCAMWAL is a pivotal step in our pan-African growth journey and a reflection of our deep conviction in the strength and potential of Africa,” he said.
“While we have taken steps to expand our regional presence over the years, this marks our first major move, establishing a physical office and regional headquarters outside Nigeria.”
Advertisement
He described Côte d’Ivoire as a “dynamic economy with a progressive financial landscape”, positioning it as a natural gateway to scale operations across Francophone West Africa.
On his part, Peter Ashade, group chief executive officer of United Capital, said the company’s ambition is to build a truly pan-African institution that drives long-term impact.
“This expansion goes beyond establishing a physical footprint. It is about creating a lasting impact,” Ashade said.
“We are committed to partnering with local economies, governments, and institutions to unlock long-term prosperity across the WAEMU region.”
Advertisement
Ashade said the firm would prioritise investment in people, technology, and systems to deliver excellence, safeguard investor wealth, and contribute to inclusive economic growth.
“We are also focused on delivering tailored financial solutions that respond to the evolving needs of investors, backed by strong corporate governance,” he added.
“Our mission remains clear: to deliver enduring value, safeguard investor wealth, and drive inclusive growth across the West African Economic and Monetary Union.”
The launch of UCAMWAL marks the group’s first expansion of its asset management operations beyond Nigeria. Previously, United Capital only operated in Nigeria and Ghana.
Advertisement
