United Capital Secures Investment Banking Licences in Ethiopia, Rwanda

Leading pan-African investment banking and financial services group, United Capital, has expanded its presence in East Africa following the acquisition of investment banking licences in Ethiopia and Rwanda.

The development marks a significant milestone in the company’s continental expansion strategy and positions it as the first foreign investment bank licensed to operate in Ethiopia’s emerging capital market.

Under the Ethiopian licence, United Capital will provide financial advisory services, securities brokerage, and portfolio management. The approval enables the firm to establish operations in the country and participate actively in the development of its capital market ecosystem.

According to the Ethiopian Capital Market Authority, the approval followed an extensive regulatory review process involving multiple government institutions and comprehensive cross-market due diligence.

The Ethiopian approval comes shortly after the company secured regulatory clearance from Rwanda’s Capital Market Authority to provide trust services, investment banking, and portfolio management services in the East African nation.

Speaking on the development, Group Chief Executive Officer of United Capital, Peter Ashade, described Ethiopia and Rwanda as two of Africa’s most promising growth markets.

He noted that the region’s strategic position as a trade corridor linking Africa and the East, its youthful population, and ongoing economic reforms would continue to attract foreign investment.

Ashade said the approvals represented a significant achievement not only for United Capital but also for Nigeria and the African continent, demonstrating how cross-border collaboration can accelerate economic development.

“This is Africapitalism in action,” he stated.

He also commended the governments of Ethiopia and Rwanda for implementing reforms aimed at strengthening their financial sectors, particularly acknowledging Abiy Ahmed and Paul Kagame for their leadership in advancing the region’s financial services landscape.

According to him, becoming the first foreign investment bank licensed in Ethiopia reflects the confidence regulators and stakeholders have placed in the company.

“As an institution committed to Africa’s economic progress, we see capital markets as critical catalysts for mobilising investment, supporting enterprise growth and unlocking long-term economic value,” he said.

United Capital’s Director for Africa, Ejikeme Okoli, said the latest approvals expand the group’s footprint to 12 African countries across West, East and Central Africa.

He said the company would leverage its more than six decades of experience in providing financial services across the continent to support the growth and development of Eastern Africa’s financial markets.

Okoli described the expansion as a reflection of strengthening partnerships within Africa’s financial services sector, stressing the need for African capital to be mobilised and structured through African institutions.

With the latest expansion, United Capital now operates in 12 African countries, including Nigeria, with a growing presence across the West African Economic and Monetary Union (WAEMU) region as well as East Africa.

The company said the move reinforces its commitment to supporting governments, institutions, businesses and investors through a broad range of financial and investment solutions while contributing to the development of integrated capital markets across Africa.