…expands to 12 African countries in eight years
United Capital is intensifying its digital transformation strategy to strengthen its footprint across Africa, with the investment banking and financial services group positioning technology as a key driver of cross-border expansion, operational efficiency, and improved customer experience.
The company says its digital investments will support its ambition to become a leading Pan-African financial institution while tapping into growing opportunities across the continent’s evolving financial markets.
Peter Ashade, group chief executive officer at United Capital disclosed this on Wednesday during the firm’s investor relations connect, themed: “Decoding Performance: Insights into United Capital’s Growth Drivers and Outlook”, when he said the company is equipping itself from human capital development to technology upskilling.
“We are equipping from people, technology, governance, and to our structure. We are equipping everything. We are retooling because what we see ahead is bigger than where we are today.
“The future we see is to have a platform that will give every of our clientele access to trade in any market they so wish across our footprint using technology; either in Nigeria, Cote d’Ivoire, Ethiopia, Rwanda, Senegal, or you’re in Burkina Faso. It’s about integrating Africa in that line which is very critical,” he said.
Ashade further explained that the firm is operating at about N2.3 trillion in terms of growth. Besides, he disclosed that United Capital has established its presence in 12 African countries and is still counting.
He emphasised that the firm is in these countries to represent Nigeria. “We do not go to Africa to represent United Capital Group alone. We go to Africa to represent Nigeria.
“We believe that Nigeria is a big brother in Africa. Hence, we must start the journey of integrating the continent,” he noted.
Besides, he emphasised that the United Capital Group is intentional and strategic in its tech investment, ease of operation, and expansion of growth.
“We’re careful in terms of retail growth, without technology we can’t be everywhere. If you have to use direct sales agents, we won’t be able to cover Nigeria, not to even talk of within Africa.
“So, it’s about the game of technology. Retail space is about the game of technology, commitment and investment for us,” he said.
Meanwhile, he revealed that the firm has bought five percent in NGX, which, according to the group executive officer is very strategic in the firm’s expansion drive.
Shedrack Onakpoma, group chief financial officer at United Capital, highlighted some of the core values of the firm driving the growth, such as execution, excellence and entrepreneurship, which has differentiated the firm from others.
He revealed that the firm recorded N37.49 billion in terms of gross earnings representing 58 percent year-on-year growth.
“This is impressive, and it speaks a lot to what we have been doing, as a group, but it’s beyond growth; we had 57 percent last year, so 58 percent is just one percent growth.
“It shows we are making progress, but this is not the kind of progress we want to see, and that’s where the drive and the energy come to play,” he said.
Onakpoma emphasised that the growth demonstrates the success of the strategy to deliver superior growth, which is embedded in the firm’s three core values of execution, excellence and enterprise.
He noted that the 58 percent growth speaks of the firm’s execution, as they have been able to execute their growth plan in H1 2026.
Speaking about profit before tax (PBT), he said the firm was able to grow the margin by 80 percent, which, when juxtaposed with the 58 percent growth in revenue, speaks to a lot.
“It speaks to efficiency and resilience, because it is not about just growing the revenue, but how we are growing this revenue.
“We are focused on how we’re growing these numbers, and how we’re delivering these values; the 80 percent growth in PBT speaks how our investment in digital assets and capabilities is playing out, yielding results,” he noted.
Moreover, he said that between 2025 and 2026, the company made some strategic moves to stay strong at the liquid side of the balance sheet. s
“The cash and cash equivalent, as of December 2025, was 16 percent, and today, we have moved it to 24 percent because we want to be liquid and fluid enough to take advantage of the opportunities we see in the market.
“The beauty of our balance sheet is that over 95 percent of it is income-earning, and that puts us in a very strong position as a group,” he said.