United Capital Expands into East Africa, Secures Rwanda, Ethiopia Licence

Kayode Tokede

United Capital Plc said it has achieved a major milestone in its continental expansion strategy with the successful acquisition of investment banking licences in Ethiopia and Rwanda.

With these approvals, United Capital becomes the first foreign institution licensed to provide investment banking services in Ethiopia, covering financial advisory services, securities brokerage and portfolio management, marking a significant milestone in the development of the country’s emerging capital market ecosystem. 

The licence enables the Group to establish operations in Ethiopia and participate in capital market activities, supporting market development while expanding access to its range of financial and investment solutions across the region.

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

This milestone comes shortly after the Group secured regulatory approval from the Capital Market Authority [CMA] to provide Trust Services, Investment Banking and Portfolio Management Services in Rwanda; further reinforcing its strategic footprint across East and Central Africa.

Commenting on the development, Group Chief Executive Officer of United Capital Group, Peter Ashade, in a statement said: “Ethiopia and Rwanda represent two of Africa’s most significant growth opportunities, and we are pleased to receive these licences at an important moment in the region’s capital market development journey. The region’s strategic location as an international trade route connecting Africa and the East, a large youthful workforce, and ongoing reforms are expected to continue attracting foreign investment.”