Nigeria’s United Capital Group has opened a new chapter in Africa’s financial sector after securing Ethiopian approval.
The Ethiopian Capital Market Authority granted the licence on June 5, 2026, after extensive regulatory reviews.
United Capital became the first foreign company to operate investment banking services within Ethiopia.
United Capital Entry To Ethiopian Market
United Capital will operate through United Capital Financial Services PLC in Addis Ababa.
As a result, the move introduces Ethiopia’s first foreign investment bank and strengthens confidence in reforms.
Furthermore, financial experts expect the development to attract more foreign institutions into Ethiopia’s capital market.
Regulatory Approval process
ECMA Director General Hana Tehelku described the licence as a major step for Ethiopia’s market.
She explained regulators carefully reviewed United Capital’s Nigerian regulatory standing before granting approval.
Meanwhile, United Capital CEO Peter Ashade described the achievement as an important company milestone.
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Additionally, he said the company plans training programmes for Ethiopian professionals within the financial sector.
Regional Expansion Strategy
United Capital reportedly committed more than $1.5 million to support Ethiopian business operations and expansion.
Earlier, the company successfully recapitalised its Nigerian subsidiaries during 2026.
Consequently, stronger capital reserves now position United Capital for wider expansion across African markets.
Analysts believe the move could encourage Nigerian financial institutions to pursue opportunities across the continent.
