United Capital PLC Expands Into Ivory Coast - Peter Ashade

Summary

United Capital Group, a leading Nigerian financial institution, has launched its West Africa office in Abidjan, Côte d'Ivoire, marking a significant step in its pan-African expansion. Group CEO Mr. Peter Ash discusses the company's strategy, focusing on creating value through financial inclusion, capital market development, and collaboration with local stakeholders. The move aims to unlock growth opportunities in the WMO region, with Côte d'Ivoire selected due to its stable economy and strong infrastructure. Emphasizing the importance of youth engagement, United Capital seeks to empower Africa’s younger generation while driving economic transformation across the continent.

Takeaways

• 😀 United Capital Group, Nigeria's leading financial institution, has expanded its footprint with the launch of United Capital Asset Management West Africa Limited in Abidjan, Côte d'Ivoire.
• 😀 The expansion is part of the company's Pan-African strategy, emphasizing their belief in Africa's potential and their commitment to implementing this vision.
• 😀 United Capital is the first capital market player in Nigeria to flag the Nigerian flag in Côte d'Ivoire, marking a historic milestone for the company.
• 😀 The license they received is a WMO region license, allowing them to operate across eight West African countries, with a total population of 147 million people.
• 😀 The goal of the expansion is not just to enter a new market but to unlock value, deepen the capital market, foster investor habits, and promote financial inclusion in the region.
• 😀 Abidjan, Côte d'Ivoire, was chosen as the strategic entry point into the WMO region due to its political stability, strong commercial infrastructure, and population of 30 million in the city alone.
• 😀 The inflation rate in Côte d'Ivoire is stable at 2.5%, and the exchange rate is favorable, showing signs of economic growth with a GDP growth rate of 6.5% over the last 3 years.
• 😀 United Capital is focused on building partnerships with local stakeholders, co-creating and developing a meaningful capital market in the WMO region, aiming for long-term development and transformation.
• 😀 The company is committed to developing youth-centered products and services, targeting financial inclusion and promoting investment habits among young people in the region.
• 😀 United Capital's expansion is part of its broader Pan-African journey, and they aim to drive financial sector transformation and support the growth of Africa's economy through strategic partnerships.

Q & A

What is the significance of United Capital’s expansion into Côte d'Ivoire?

The expansion marks a major milestone for United Capital as it takes its Pan-African strategy to the next level. By launching its West Africa office, United Capital aims to tap into the growth potential of the WMO region, which has a combined population of 147 million people.

Why did United Capital choose Côte d'Ivoire as the starting point for its regional expansion?

Côte d'Ivoire was chosen due to its political stability, strong economic performance, and infrastructural development. With a population of 30 million people, the country serves as an ideal gateway to the larger West African region.

How does United Capital view its role in the West African market?

United Capital sees its role as collaborative and developmental. The company is focused on co-creating solutions with local stakeholders to transform the financial landscape, rather than extracting value from the region.

What are the primary goals United Capital wants to achieve in the West African region?

United Capital aims to deepen capital markets, foster investor habits, drive financial inclusion, and develop structured financial products within the economy to unlock opportunities across the region.

How does United Capital plan to foster financial inclusion in West Africa?

By targeting youth and young adults, developing products tailored to their needs, and promoting investment habits, United Capital seeks to increase financial access and inclusion across the region.

What does United Capital’s strategy for youth engagement involve?

United Capital is intentionally focusing on younger demographics, with plans to develop products aimed at youth and MSMEs. The goal is to help the younger generation build financial security and awareness.

What kind of market environment does Mr. Peter Ash describe in Côte d'Ivoire?

Mr. Ash highlights Côte d'Ivoire's political stability, strong GDP growth, low inflation (2.5%), and a stable exchange rate as key factors that make the country an attractive market for investment.

How does United Capital plan to bridge the gap between Anglophone and Francophone West Africa?

United Capital plans to use its strong base in Anglophone West Africa to create a bridge to Francophone countries, starting with Côte d'Ivoire, and eventually expanding across the WMO region.

What message does Mr. Peter Ash convey to investors in light of the company’s expansion?

Mr. Ash’s message to investors is that Africa is on the rise and United Capital is committed to being a strategic partner in the continent’s financial transformation, with a focus on increasing wealth and driving development.

What is the long-term vision for United Capital’s presence in Africa?

The long-term vision includes expanding beyond Côte d'Ivoire into other regions of Africa, particularly East and Central Africa, as part of a broader Pan-African strategy to redefine the continent’s financial landscape.