The Nigerian financial services group United Capital plans to increase the assets it manages to 3 trillion nairas ($2.2 billion), after reaching its previous target of 1 trillion nairas ($733 million) before the originally set deadline.
Its CEO, Peter Ashade, stated that the group would continue its expansion in Africa and planned to launch new activities in the second half of 2026.
United Capital operates in 12 African countries, including Rwanda and Ethiopia. Since 2018, the group has expanded its activities to several segments, including investment banking, asset management, securities custody, wealth management, microfinance, digital banking, and consumer credit.
In the first half of 2026, gross profit increased by 58% year-on-year to 37.49 billion nairas ($27.47 million). Pre-tax profit rose by 80% to 24.78 billion nairas ($18.15 million), while net profit reached 21.10 billion nairas ($15.46 million), up by 77%.
As of the end of June, assets under management stood at 1.04 trillion nairas ($762 million) and equity at 187.09 billion nairas ($137.06 million), a 25% increase year-on-year. The group also announced an interim dividend of 30 kobo per share, amounting to a distribution of 5.4 billion nairas ($3.96 million).
United Capital has also acquired a 5% stake in the Nigerian Exchange Group (NGX). The group has announced a governance reorganization, with a separation of the management of its operations in Nigeria and other African markets, as well as a strengthening of its risk management functions.
