United Capital Plc has unveiled ambitious plans to expand its mutual fund offerings across West Africa through its newly launched subsidiary, United Capital Asset Management West Africa Limited (UCAMWAL).
Group Chief Executive Officer, Peter Ashade, said the company was targeting the rollout of at least five mutual funds before the close of 2025.
Speaking during the company’s investor and analyst conference call at the weekend, Ashade explained that UCAMWAL, which began operations in June 2025, already offers two CFA franc-denominated funds in eight West African countries – Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.
These countries are all members of the West African Economic and Monetary Union (WAEMU). He expressed confidence that the subsidiary would significantly contribute to group profitability within six to twelve months, noting the group’s history of turning new ventures profitable in a short period.
Ashade emphasised that the target of ending 2025 with no fewer than five mutual funds is achievable, given the company’s strategic positioning and the region’s appetite for diversified investment products.
He said the firm’s expansion strategy is not limited to West Africa, pointing to its broader vision for African integration and its aspiration to explore opportunities beyond the continent.
The launch of UCAMWAL builds on United Capital Plc strong financial performance in the first half of the year. The Group posted a profit before tax (PBT) of N7.06 billion in the second quarter of 2025, representing a 42.24 per cent year-on-year increase.
This brought its half-year PBT to N13.79 billion, representing a 52 per cent rise when compared to N9.1 billion achieved in the same period of 2024.
Its gross earnings for Q2 rose to N10.63 billion, translating to 18.33 per cent rise over the previous year’s figure, while half-year gross earnings hit N23.76 billion, surpassing half of the group’s total revenue for the entire 2024 financial year.
Ashade attributed this strong performance to the Group’s consistent execution of growth strategies, disciplined financial management, and sustained investor confidence, stressing that these fundamentals would continue to underpin its regional expansion and new product rollouts.
