United Bank has opened its subsidiary company United Capital Plc in Cote D'Ivoire
The Chairman of Heirs Holdings Mr Tony Elumelu disclosed this in a statement by him
This was his post
" A significant chapter in Heirs Holdings story. Last week, we celebrated United Capital Plc’s bold expansion into West Africa, with the launch of a new office in Côte D'Ivoire– reaffirming our Group’s commitment to improving lives and transforming the African continent.
With this latest addition, United Capital Plc becomes the first Nigerian investment management group to be licensed by the Financial Markets Authority of West African Economic & Monetary Union (AMF-UMOA).
United Capital is now licensed to conduct Investment Management business across eight countries - Benin, Burkina Faso, Côte D'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo, in the WAEMU Zone under the Financial Market Regulatory laws.
It is truly intentional that United Capital is expanding into West Africa. Africa needs to mobilise her own savings, her own capital, to address the infrastructure and financing needs of our continent. Institutionalising that process is a critical foundation of our continent’s future success. At Heirs Holdings, we are long-term investors. We see opportunities where others hesitate. We know that no one but us will develop Africa, and that is why we continue to invest across the continent.
United Capital Plc, with operations spanning asset management, securities trading, investment banking, consumer finance, a microfinance bank, and more, is proof that when you apply long-term thinking, disciplined execution, and a strong sense of purpose, you create not just wealth, but impact. This is a story of Africapitalism in action. And a story of African success.
I extend hearty congratulations to the Group CEO, United Capital Plc, Peter Ashade, and the entire team. I also welcome the incoming MD/CEO, Labas Bamba, who will oversee this new mandate, and his new team.
I paid a courtesy visit to H.E. President Alassane Ouattara, whose visionary leadership has supported private sector-led growth. UBA Group is proud to partner with Côte d'Ivoire in its economic transformation, and is now one of the most profitable banks in Côte d'Ivoire, serving over 1.2 million customers through 20+ branches.
We continue to support critical projects that uplift communities, urban and rural alike. Through The Tony Elumelu Foundation, we have empowered 144 young Ivorian entrepreneurs with $700,000 in non-refundable seed capital, who have created 1,800+ jobs. These are the results that define our impact.
During my visit, I joined the African Development Bank Group Annual Meetings. I congratulate Sidi Ould Tah, on his election as the incoming President of the African Development Bank. Under his leadership BADEA partnered with TEF to empower 220 low income Nigerian women, including wives of deceased Nigerian military officers.
I also commend the outgoing President Dr. Akin Adesina for a decade of transformative leadership at the African Development Bank. Under his guidance, the AfDB Group partnered with TEF to empower 1,000 African entrepreneurs.
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