United Capital Group, Nigeria’s leading investment banking and financial services institution, has taken a major step in its Pan-African expansion, with the official launch of its West Africa office, United Capital Asset Management West Africa Limited, in Abidjan, Côte d’Ivoire.
This expansion marks a significant milestone for the Group as United Capital is the first Nigerian investment management group to be licensed by the Financial Markets Authority of the West African Economic & Monetary Union (AMF-UMOA). The group now has license to conduct investment management services (portfolio management, mutual funds, financial advisory) in Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. With Abidjan as its regional headquarters, United Capital is strategically positioned to deliver world-class financial services tailored to the region’s dynamic economic landscape. The launch ceremony, held at the new regional office in Abidjan, was a landmark event, attracting top dignitaries, industry leaders, and prominent figures from across the continent. Among the notable guests were Dr. Emomotimi Agama, the Director-General of the Securities and Exchange Commission (SEC), Ibrahim Magassa, French-Ivorian Banker and Chairman of Algest Consulting, Yvon Sana Bangui, Governor of the Bank of Central African States, amongst others.
The Special Guest of Honour, Tony O. Elumelu, CFR, Group Chairman, Heirs Holdings, in his goodwill message, praised the milestone as a “history in the making” emphasising the Group’s consistency in championing African excellence, leveraging African resources, and building ecosystems that empower Africans.
He said: “Today marks a significant chapter in Heirs Holdings’ history as we celebrate United Capital’s bold expansion into West Africa. At Heirs Holdings, we advocate Africapitalism: this is a clear demonstration of our belief of Africa’s success led by its own private sector.
He added, “Cote d’Ivoire remains a significant hub for our investments and a welcoming country for investors. I commend President Alassane Ouattara, for his warm welcome. His visionary leadership has supported private sector-led growth. As a Group, we are proud to partner with Côte d’Ivoire in its economic transformation, and we will continue to support critical projects that uplift its communities, urban and rural. We look forward to United Capital Asset Management West Africa pacing up and catalyzing economic development, prosperity, and job creation for Africans”
The event served as an opportunity to introduce the board and management team of the new business:
Speaking at the launch, Bamba stated: “United Capital Group’s decision to establish its subsidiary in Côte d’Ivoire is not accidental. It testifies to the vitality of the Ivorian economy, its strategic position within the WAEMU region, and a deep belief in the power of African markets and the potential of its people. Abidjan is the ideal base to replicate a proven success model from Nigeria and deliver value across Francophone West Africa. I am humbled to be entrusted with the responsibility of leading this vision.”
Peter Ashade, Group Chief Executive Officer of United Capital Plc, expressed the vision for the new venture:
“This expansion is not just about physical presence; it is about impact. We are here to work with local economies, governments, and partners to build a more prosperous Africa. Our vision is Pan-African, and our mission is generational wealth creation and sustainable development.” He added, “This is the beginning of a legacy. A legacy of wealth transferred, lives enriched, and futures secured. We are here to stay, to deliver, and to write a new chapter in Africa’s financial story of innovation, inclusion, and enduring success.”
With a robust track record in Nigeria and strong ambitions for the WAEMU region, United Capital Asset Management West Africa Limited (UCAMWAL) is poised to become the go-to investment partner for individuals, institutions, and governments in Francophone West Africa. This expansion cements United Capital’s role as a Pan-African powerhouse, dedicated to fostering regional integration, driving investment flows, and shaping the future of finance in Africa.
