The Group CEO of United Capital Plc, Peter Ashade, says the company is working to roll out at least five mutual funds through its newly launched subsidiary, United Capital Asset Management West Africa Limited (UCAMWAL), before the end of 2025.
Ashade shared this during the company’s investor and analyst call held virtually on August 6, where the firm discussed its half-year performance and outlook for the rest of the year.
When asked about the expected financial contribution of UCAMWAL to the Group, Ashade said:
“We are positive in turning around our new business before six to one year to contribute to the profit of the group, going by the antecedent on how our other businesses have turned to profits within a short period of time.”
He added that UCAMWAL, launched in June 2025, already offers two mutual funds across eight West African countries and plans to grow that number to five by the end of the year.
“We could end this year with no fewer than five different mutual funds. We are confident about the impact of this West African subsidiary,” he said.
United Capital Asset Management West Africa Limited is the West African subsidiary of United Capital Plc, with services available to eight member countries.
These countries — Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo — all fall under the West African Economic and Monetary Union (WAEMU).
At the launch, United Capital introduced two CFA franc-denominated mutual funds, accessible to customers across these countries.
When asked whether the Group plans to expand into more African markets, the CEO responded:
“We have a very audacious goal when it comes to African integration and expansion. We also have our eyes set beyond the continent, as the world is now a global village.”
He also pointed to the Group’s consistent performance and its efforts to maintain investor confidence as a foundation for future growth.
United Capital Plc reported a Profit Before Tax (PBT) of N7.06 billion for the second quarter ended June 30, 2025, representing a 42.24% year-on-year increase.
Gross earnings for Q2 stood at N10.63 billion, an 18.33% increase year-on-year.
On the balance sheet, total assets declined to N1.5 trillion from N1.7 trillion in December 2024. However, shareholders’ equity grew by 25% in six months to N166.91 billion, up from N133.50 billion.