United Capital Assets Crosses N2trn, Targets 12 African Countries in Expansion Drive
Kayode Tokede
United Capital Plc has announced plans to deepen its expansion across 12 African countries and strengthen its retail business after its assets under management exceeded N2 trillion mark. .
The announcement was made by Group Chief Executive Officer of United Capital, Peter Ashade at the company’s Investor Relations Roundtable held in Lagos.
United Capital had disclosed that it recently acquired a five per cent stake in Nigerian Exchange Group Plc (NGX) as part of its long-term investment strategy and has expanded its operations into 12 African countries, including Rwanda and Ethiopia.
Ashade, said the company has grown from a capital market operator into a diversified financial services group with seven operating businesses and two associate companies since 2018.
According to him, assets under management, which were below N100 billion when he assumed office in July 2018, exceeded the group’s initial N1 trillion target in 2022 and have now risen above N2 trillion. He said the expansion across Africa is intended to create long-term value for shareholders while supporting economic integration on the continent.
“The rapid growth reflects increasing confidence from investors and clients in the company’s business operations,” Ashade said.
He added that shareholder value has increased by more than 2,500 per cent over the past eight years, while the company has consistently paid interim dividends over the last three years in addition to its final dividends.
Ashade said United Capital plans to launch several new products and strategic initiatives between August and December 2026 as part of efforts to broaden its retail financial services offerings and strengthen its technology platform.
He added that the group would continue to invest in technology, research, risk management and investor relations to support sustainable growth while pursuing expansion only in African markets that align with its long-term strategy. The company also reaffirmed its commitment to maintaining regular engagement with shareholders and other stakeholders as it advances the next phase of its growth strategy.
Providing an outlook for the economy, Group Chief Economist at United Capital, Ayodele Akinwunmi, said ongoing economic reforms are creating investment opportunities across banking, construction, oil and gas, consumer goods and infrastructure.
He projected Nigeria’s economy would grow by about four per cent in 2026, although he noted that stronger growth would be required to achieve the country’s long-term ambition of becoming a $1 trillion economy.
According to Akinwunmi, Nigeria’s emergence as a net exporter of refined petroleum products is reducing dependence on imports, improving foreign exchange stability and attracting fresh investment.
He said exports of refined petroleum products, aviation fuel and fertiliser, alongside diaspora remittances and foreign portfolio inflows, are strengthening the country’s external reserves.
Akinwunmi said United Capital expects interest rates to moderate in the second half of the year as inflationary pressures ease and major central banks slow monetary tightening. He said lower borrowing costs would support business expansion and improve the outlook for the capital market.
The economist identified banking, building materials, consumer goods, and oil and gas as sectors expected to lead the next phase of market growth, citing increased infrastructure spending and stronger corporate earnings as key drivers.
He added that the fixed income market remains attractive following the introduction of tax incentives on investments in Federal Government and state government bonds, noting that Nigeria’s relatively high yields continue to attract both local and foreign investors.
Akinwunmi urged investors to remain focused on long-term wealth creation rather than short-term market movements, saying consistent investment and dividend reinvestment have historically delivered significant returns.