United Capital Plc has announced the launch of a new subsidiary, United Capital Asset Management West Africa Limited, in Abidjan, Côte d’Ivoire, marking its first licensed and operational footprint in Francophone West Africa.

The disclosure, which was filed with the Nigerian Exchange on Friday, represents a significant milestone in the group’s pan-African expansion strategy.

Licensed by the Financial Markets Authority of the West African Economic and Monetary Union, the new entity will operate across the eight WAEMU member countries: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.

UCAMWAL is expected to offer services including portfolio management, mutual funds, and financial advisory services tailored to the investment needs of the region.

Speaking on the development, the Board Chairman of United Capital Group, Chika Mordi, described the launch as a pivotal step in the firm’s growth journey.

“The launch of UCAMWAL is a pivotal step in our pan-African growth journey and a reflection of our deep conviction in the strength and potential of Africa,” Mordi said. “Côte d’Ivoire stands out as a dynamic economy with a progressive financial landscape, making it the ideal gateway to expand our footprint across Francophone West Africa.”

Also commenting, the Group Chief Executive Officer, Peter Ashade, stated that the move underscores United Capital’s commitment to building a lasting impact on the continent.

“This expansion goes beyond establishing a physical footprint; it is about creating a lasting impact,” Ashade said. “Our ambition has always been to build a truly pan-African financial institution that understands and serves the continent.”

He added that the company would invest in people, systems, and technology to ensure sustainable performance and deliver tailored solutions that safeguard investor wealth and drive inclusive growth across the WAEMU region.