Group Chief Executive Officer of United Capital Plc, Peter Ashade, has said Africa’s economic future will be shaped by strong execution of reforms, consistent regulatory frameworks, and deeper collaboration among African economies.
Speaking in an interview with ARISE NEWS on Wednesday, Ashade said the company’s expansion into Ethiopia and Rwanda reflects growing opportunities across the continent, supported by ongoing financial sector reforms and improved regulatory environments
Explaining the regulatory process that enabled the approvals, he said the legal and supervisory frameworks in both countries played a crucial role in guiding the company’s expansion and licensing journey.
“I want to acknowledge the provisions and regulatory frameworks in both jurisdictions, which clearly define the requirements institutions must meet to obtain operating licences and expand their presence across markets,” he said.
He commended regulators in both countries for creating platforms that enabled United Capital to secure operating licences, describing the process as a “transformational journey” built on compliance, governance, and financial strength.
“It has been highly instrumental,” he stated noting that strong regulatory engagement and institutional support were key in securing the landmark approvals.
He added that the expansion reflected a broader shift in Africa’s financial sector, where increased intra-African investment is gradually reducing dependence on external capital.
“The ongoing reforms and cooperation from financial institutions and market regulators have been crucial in enabling this cross-border expansion. Their support has made it possible to navigate complex processes and strengthen integration within the financial system,” he said.
Ashade acknowledged the role of Nigerian financial institutions and regulatory authorities, noting that their collaboration was instrumental throughout the expansion process.
According to him, the development forms part of a wider transformation in Africa’s financial landscape, driven by efforts to deepen regional investment flows and strengthen economic self-reliance across the continent.
He said Africa is entering a new phase where growth will be driven more by Africans investing in Africa.
“The next growth phase in Africa will belong to Africans,” he stated.
Ashade highlighted Ethiopia and Rwanda as key entry markets for the group, citing their strong reform agendas and economic potential.
He noted that Ethiopia, with a population of over 130 million, has recorded strong economic expansion and continues to attract significant infrastructure and industrial investment, while Rwanda is emerging as a regional hub for innovation and financial services, with steady GDP growth in recent years.
“If you look at Ethiopia and Rwanda, you will see two countries that are clearly positioning themselves as growth engines in Africa. Ethiopia, with its large population and ongoing reforms, is seeing remarkable infrastructure and industrial investments, while Rwanda has distinguished itself as a fast-rising hub for innovation, governance reforms, and financial services development. Both markets present very strong opportunities for long-term investment.”
He said these developments make both countries attractive destinations for long-term investment.
On Africa’s broader economic direction, Ashade emphasised the importance of intra-continental trade and capital movement, supported by frameworks such as the African Continental Free Trade Area (AfCFTA).
“For example, when you look at the direction of growth across Africa, you will see that countries like Ethiopia and Rwanda are becoming very attractive for long-term investment because of their reforms and economic outlook. Beyond that, it is also important that we strengthen intra-African trade and encourage the movement of capital within the continent. Initiatives like the African Continental Free Trade Area (AfCFTA) are key to unlocking that potential and ensuring Africa grows in a more integrated and sustainable way.”
On United Capital’s role in African financial markets, the executive said the firm aims to serve as a catalyst in connecting surplus capital with areas of deficit across the continent.
“Well, United Capital is focused on playing a catalytic role in linking surplus and deficit capital across African markets. The idea is to ensure efficient flow of funds where they are needed most to support growth and development. So I think that should be a key part of our mandate.”
On the company’s growth strategy following recent expansion milestones, he emphasised discipline, consistency, and strong execution as the guiding principles.
“When it comes to our strategy, we are guided by discipline, consistency, and execution. These remain our core focus as we continue to build on recent expansion milestones and strengthen our position in the market.”
Meanwhile, addressing expectations around the company’s direction, Ashade said the focus has now shifted to execution and strategic alignment, adding that investors should anticipate sustained value creation and stronger performance outcomes.
“Now it is about execution and convergence,” he explained.
Ashade also highlighted the company’s continued emphasis on shareholder returns, noting that dividend delivery remains central to its priorities.
“It’s just about dividend,” he said, adding that expansion in scale is expected to further strengthen the group’s bottom line.
On corporate strategy and growth, he said:
He added that United Capital remains focused on consolidating its current African operations rather than rushing into further expansion or new stock market listings.
“For now, let’s get our foot on the ground,” he said, emphasizing a cautious but opportunity-driven approach to future growth.
Ashade concluded that Africa’s financial future will be shaped by institutions that combine strong capital base, sound governance structures, and long-term execution discipline to drive sustainable economic transformation across the continent.
Goodness Anunobi
