Firm Targets 12 African Countries As Assets Under Management Cross N2trn

United Capital Plc has planned to deepen its expansion across 12 African countries and strengthen its retail business after Assets Under Management exceeded the N2 trillion mark.

The Group chief executive officer, Peter Ashade stated this at the company’s Investor Relations Roundtable held in Lagos.

Ashade said the company has transformed 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 were below N100 billion when he assumed office in July 2018. The group exceeded its initial N1 trillion target in 2022 and has now risen above N2 trillion.

“The rapid growth reflects increasing confidence from investors and clients in the company’s business operations.”

Ashade said 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.

United Capital disclosed it had recently acquired a five per cent stake in Nigerian Exchange Group Plc (NGX) as part of its long-term investment strategy.

The firm has also expanded operations into 12 African countries, including Rwanda and Ethiopia.

Ashade said the expansion across Africa is intended to create long-term value for shareholders while supporting economic integration on the continent.

He said the group plans to launch several new products and strategic initiatives between August and December 2026 to broaden its retail financial services offerings and strengthen its technology platform.

The company will also continue to invest in technology, research, risk management and investor relations to support sustainable growth.

Expansion will be pursued only in African markets that align with its long-term strategy, he added.

Providing an outlook, Group chief economist, 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, noting that stronger growth would be required to achieve the country’s long-term ambition of becoming a $1 trillion economy.

Akinwunmi said, “Nigeria’s emergence as a net exporter of refined petroleum products is reducing dependence on imports, improving foreign exchange stability and attracting fresh investment.

“Exports of refined petroleum products, aviation fuel and fertiliser, alongside diaspora remittances and foreign portfolio inflows, are strengthening external reserves.”

He expected, “interest rates to moderate in the second half of the year as inflationary pressures ease and major central banks slow monetary tightening. Lower borrowing costs, he said, 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.

He added that the fixed income market remains attractive following tax incentives on investments in Federal and State government bonds, noting that Nigeria’s relatively high yields continue to attract local and foreign investors.

Akinwunmi urged investors to focus on long-term wealth creation rather than short-term market movements, saying consistent investment and dividend reinvestment have historically delivered significant returns.