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United Capital Plc Holds 12th Annual General Meeting, Shareholders Applaud Impressive Growth and Strategic Expansion

United Capital 2025 Annual General Meeting
United Capital Plc, a leading pan-African financial and investment services group, held its 12th Annual General Meeting (AGM) at the Transcorp Hilton Hotel, Abuja, where shareholders approved a total dividend payout of N14.4 billion for the 2024 financial year. This represents a 33% increase from the previous year, reinforcing the company’s commitment to delivering exceptional value to its investors.

The meeting, which brought together shareholders and key stakeholders, served as an opportunity to review the company’s outstanding results for the 2024 financial year and outline its strategic vision for continued growth.

In his opening remarks, Prof. Chika Mordi, Chairman, United Capital Plc, highlighted the company’s outstanding financial performance despite macroeconomic challenges. “In 2024, our Profit Before Tax (PBT) accelerated by 74.0% year-on-year to N30.10 billion in 2024, indicating impressive growth in the overall profitability of the Group. In terms of our financial position, the Total Assets of the Group appreciated by 82.6% year-on-year to N1.7 trillion. Prof. Mordi reassured investors of the company’s commitment to sustaining this momentum, stating that United Capital remains well-positioned to deliver even greater returns in the coming years.

The declaration of a final dividend of N0.50 per share, complementing the interim dividend of N0.90 per share distributed within the financial year, received unanimous shareholder endorsement. Investors commended the company’s consistent delivery of strong returns, spotlighting the previously declared 2-for-1 bonus share issuance that significantly enhanced their equity positions. This robust shareholder value creation is reflected in the 47% growth of Shareholders’ Funds to N133.50 billion

Peter Ashade, Group CEO, United Capital Plc, attributed the company’s continued success to strategic execution, operational excellence, and the dedication of its leadership team and employees. “We remained committed in our mission to create sustainable value for our stakeholders despite a volatile operating environment. Our market capitalization surged by 200% to N396 billion, while our Return on Average Equity (RoAE) stood at 21.5%, underscoring the wealth creation and business stability we have achieved,” he said. Looking ahead, Ashade reaffirmed United Capital’s commitment to sustaining its growth trajectory and delivering superior performance in 2025. “Our focus remains on expanding our market leadership, enhancing innovation, and driving long-term value creation.”

Following a profitable year with the firm leading key transactions, expanding into microfinance banking, and recording impressive growth in funds under management, the Group is determined to solidify its position as a high-performing, sustainable financial services group, with key strategic expansion into new markets and sectors, setting new standards of excellence in Africa’s financial landscape.
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About United Capital Plc

United Capital Plc remains a leader in the financial and investment services space, offering a robust suite of service offerings: Investment Banking, Asset Management, Trusteeship, Securities Trading, Wealth Management, Consumer Finance, and Microfinance Banking. The group aims to transform the African continent by providing innovative and creative investment banking solutions to governments, companies, and individuals.

United Capital is listed on the Nigerian Exchange Limited (NGX) and is at the forefront of becoming the financial and investment role model across Africa by leveraging on innovation, technology, and specialist skills to exceed client expectations, while creating more value for all stakeholders.

JOSEPH ONYEMA

Head, Group Enterprise Performance Management
Joseph Onyema
Joseph is the Head, Group Enterprise Performance Management at United Capital Plc.
Over the last 16 years, Joseph has worked with and led teams whose responsibilities cut across a major spectrum of technology transformational and retail growth projects and consultancy. Joining the group in 2017, Joseph started out leading the technology team for 5+ years in the position of the Group, Chief Information Officer, a role in which his focus on execution to reposition the business was exemplary, hence leading to increased digital presence, retail growth and improved revenues, with keen focus on our growth during the COVID-19 pandemic where the business was run totally virtual and saw outstanding growth in customers, revenue and profitability.​
Leveraging on his education, performance, experience and spirit of execution, Joseph transitioned to the Group Head, Enterprise Performance Management, where he brings his analytical and technological prowess coupled with his background in managing teams and businesses to bare in monitoring and tracking business units and employees performances, while helping them to improve in their performance and ensuring the group continues to win in all its endeavours.
Before joining United Capital, Joseph headed the Group Technology Operations at Cordros Capital Limited where he transitioned the business from a High Net-worth Individual (HNI) focused business to retail-focused business with total leverage on technology to drive B2C sales across verticals while exploring new markets and partnerships. Prior to Cordros Capital, he had led the Enterprise & Cloud Services team at Soft Solutions Limited, an IT Consultancy firm with a footprint across 15 Nigerian banks on enterprise security, cloud projects, and consultancy where he developed, deployed, and led support teams to manage several financial and FMCG application suites.
A Tony Elumelu entrepreneur from 2016 before joining the group, and a member of the prestigious Beta Gamma Sigma international business honor society, continues to reinvent himself and deliver exceptionally to the United Capital family.