United Capital Plc

What United Capital Plc does

United Capital Plc is a Nigerian-listed pan-African financial services group operating across investment banking, asset management, securities trading, wealth management, trusteeship, consumer finance, and microfinance banking. Founded in 1963 and listed on the Nigerian Exchange (NGX) in January 2013 under ticker UCAP, the group serves federal and state governments, corporates, institutional investors, high-net-worth individuals, and retail investors primarily in Nigeria with expanding operations in Côte d'Ivoire (UCAMWAL, licensed by AMF-UMOA), Rwanda, and Ethiopia. Its technology stack centers on the proprietary InvestNow digital trading platform (web, iOS, Android) enabling direct market access to the NGX for equities, fixed income, and mutual fund transactions, supplemented by the UTrace portfolio tracking tool and the KashNow USSD-based (*5077#) microfinance lending product.

Revenue is generated through diversified streams: recurring asset management fees on US$904.7M+ AUM across 10+ mutual funds, transaction-based investment banking advisory and capital markets fees (debt and equity capital markets, M&A, project finance, structured finance), securities trading commissions on the NGX and NASD OTC, subscription-based wealth management fees with HNI minimums of N50M, trusteeship fees on N8T+ in managed trust transactions, consumer finance interest income, and dividend/interest income including a strategic equity stake in the Nigerian Exchange Group acquired in June 2026. Go-to-market combines direct enterprise field sales for institutional and government mandates, consultative wealth advisors for HNI clients, and a product-led self-serve channel for retail via InvestNow. The group completed SEC recapitalization of all four regulated subsidiaries in 2026 and posted FY 2025 profit after tax of N28.15 billion, representing 37% YoY growth.

Name

United Capital Plc

Legal name

United Capital Plc

Website

https://unitedcapitalplcgroup.com

Company type

Public

Founded year

1963

Operating status

Operating

Headcount range

51–100 employees

Short description

United Capital Plc is a Nigerian-listed pan-African financial services group offering investment banking, asset management, securities trading, wealth management, trusteeship, and microfinance to governments, corporates, institutions, and individuals across Nigeria, Côte d'Ivoire, Rwanda, and Ethiopia.

Ownership category

akta.pro rank

Product category

Investment Banking and Asset Management

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Open-End Investment Funds (525910), Other Financial Investment Activities (5239)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282), Finance Services (6199)

akta.pro industry

PRIMARYBPAHADAB

Corporate Finance & Capital Advisory

Business & Public Services/Professional Services (Legal, Accounting, Consulting)/Strategy & Corporate Finance Advisory

SECONDARYFSAAAAAA

Full-Service Retail Brokerage & Wealth Platforms

Financial & Insurance/Asset & Wealth Management/Retail & Mass-Affluent Wealth Management

SECONDARYBPAHAOAD

Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit)

Business & Public Services/Professional Services (Legal, Accounting, Consulting)/M&A, Transaction & Restructuring Advisory

SECONDARYBPAHAOAL

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory)

Business & Public Services/Professional Services (Legal, Accounting, Consulting)/M&A, Transaction & Restructuring Advisory

SECONDARYBPAHAOAE

Equity Capital Advisory (Private Equity Placements, Growth Capital)

Business & Public Services/Professional Services (Legal, Accounting, Consulting)/M&A, Transaction & Restructuring Advisory

Keywords

• Investment banking services
• Asset management
• Wealth management
• Securities trading
• Trusteeship services

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Asset Management Fees: Revenue generated from managing mutual funds, portfolio management schemes, and providing investment advisory services. Includes management fees on assets under management (AUM) across equity, balanced, fixed income, money market, sukuk, and dollar-denominated funds. AUM currently exceeds US$904.7 million.
2. Investment Banking Advisory and Transaction Fees: Fees earned from strategic financial advisory, capital raising (debt and equity), M&A execution, project finance structuring, and structured finance solutions for corporate and government clients. Includes underwriting fees, arrangement fees, and success fees on completed transactions.
3. Securities Trading Commissions: Commissions and transaction fees earned from securities dealing services on the Nigerian Exchange (NGX) and NASD OTC platform, including equity trading, fixed income securities trading, IPO participation, and rights issues.
4. Wealth Management Fees: Fees from private wealth services including managed investment accounts, offshore investment management, UC Prestige, UC-IMRAN (USD Sukuk), UC Octus, retirement planning, and legacy investment services for high-net-worth individuals and families.
5. Trusteeship Fees: Fees earned from acting as trustee for corporate bond issuances, estate planning trusts, education trusts, public trusts, Islamic trusts, and escrow services. Managed over N8 trillion in major trust transactions.
6. Consumer Finance Interest Income: Interest and fee income from asset-backed loans, UC Invest (margin financing), UC Easy Invest, dividend loans, and the KashNow digital microfinance product.
7. UCEE Microfinance Bank Revenue: Interest and fee income from microfinance banking services including savings, lending, and digital-first banking products targeting financial inclusion customers.
8. Dividend and Interest Income: Dividend income from the company's strategic equity stake in the Nigerian Exchange Group, supplemented by interest income on fixed income and money market investments.

Pricing tiers

Go-to-market motion3 records

Distribution channels10 records

Marketing channels10 records

Core offering

United Capital Plc provides a comprehensive suite of pan-African financial services including investment banking (debt and equity capital markets, M&A advisory, project finance, structured finance), asset management (10+ mutual funds including equity, balanced, fixed income, money market, sukuk, dollar-denominated and infrastructure funds with AUM exceeding US$904.7 million), securities trading on the Nigerian Exchange and NASD OTC, wealth management for mass-affluent and high-net-worth individuals, trusteeship services (corporate bonds, estate, education and Islamic trusts with over N8 trillion in managed transactions), consumer finance products, and microfinance banking through UCEE MFB. These services are delivered through direct enterprise sales teams, dedicated wealth advisors, and the proprietary InvestNow digital trading platform accessible via web and mobile.

Differentiator

Problem solved

Functional benefit

Brands

• InvestNow: Digital investment platform for trading stocks, mutual funds, and accessing financial services
• UCEE Microfinance Bank
• UCAMWAL
• UC Prestige
• UC-IMRAN
• UC Octus
• United Capital Infrastructure Fund (UCIF)
• KashNow

Products and services

• Investment Banking Advisory and capital raising services covering debt capital markets, equity capital markets, mergers and acquisitions advisory, project finance, and structured finance solutions for corporate and government clients across Africa.
• Asset Management Mutual fund and discretionary portfolio management services delivered through United Capital Asset Management Limited and UCAMWAL, covering 10+ funds across equities, balanced, fixed income, money market, sukuk, dollar-denominated, global fixed income, and infrastructure, with AUM exceeding US$904.7 million.
• Wealth Management Private wealth services including discretionary and non-discretionary portfolio management for high-net-worth individuals and families, with offshore offerings (UC Prestige, UC Octus) and Shariah-compliant products (UC-IMRAN USD Sukuk portfolio); HNI minimum investment is N50 million and corporate minimum is N100 million.
• Trusteeship Services Trusteeship services for corporate bond issuances, estate planning trusts, education trusts, public trusts, Islamic trusts, and escrow services, with over N8 trillion in managed major trust transactions across the United Capital Trustees Limited book.
• Securities Trading Equity trading, fixed income securities trading, IPO participation, and rights issues execution on the Nigerian Exchange (NGX), NASD OTC, and FMDQ platforms through United Capital Securities Limited, which holds dealing member, Supplemental Market Maker (SMM), and Designated Adviser status.
• Consumer Finance Asset-backed loans (up to 95% of investment value), UC Invest margin financing, UC Easy Invest, and dividend loans (up to 100% of dividend payout) for individuals and retail investors against their investment portfolios.
• UCEE Microfinance Bank Microfinance banking services including savings accounts, micro-loans, and digital-first banking products delivered through UCEE Microfinance Bank Limited targeting financial inclusion customers and micro-entrepreneurs in Nigeria.
• UCAMWAL Asset Management (West Africa) Asset management and mutual fund distribution across the WAEMU region delivered through United Capital Asset Management West Africa Limited (UCAMWAL), headquartered in Abidjan, Côte d'Ivoire, and licensed by AMF-UMOA.
• Diaspora Investment Services Investment and wealth management services targeted at Nigerians abroad, enabling diaspora investors to access Nigerian financial markets, manage wealth remotely, and support family financially from overseas.
• InvestNow Digital Platform Proprietary digital investment platform offering direct market access to the Nigerian Exchange, supporting self-serve stock trading, mutual fund purchases, securities account opening, and real-time portfolio monitoring via web and mobile (iOS, Android).
• KashNow Digital Microfinance Loan Digital microfinance loan product accessible via USSD shortcode *5077# that delivers alternative lending to individuals and small businesses.
• United Capital Infrastructure Fund (UCIF) A N150 billion close-ended infrastructure fund registered with the Securities and Exchange Commission (SEC) for investment in Nigerian infrastructure projects.

Quantifiable outcome

• 37% year-on-year profit after tax growth to N28.15 billion in FY 2025
• +6 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered core, flagship and supporting.

• Rwanda Capital Markets Authority (CMA)coreStrategic or Co-development Partner · 9 June 2026United Capital secured investment banking licenses to operate in Rwanda through a landmark regulatory partnership with the Rwanda Capital Markets Authority. This partnership represents a strategic bridge between Nigerian and Rwandan capital markets, facilitating cross-border investment banking activities and regulatory cooperation.
• Ethiopian Capital Markets AuthoritycoreStrategic or Co-development Partner · 9 June 2026United Capital obtained investment banking licenses to operate in Ethiopia, marking its entry into the East African market alongside Rwanda operations. This expansion establishes United Capital's presence as a pan-African investment banking group.
• Africa Prudential PlccoreOthersAfrica Prudential Plc serves as the official Registrars for United Capital Plc's shareholding records, handling change of name, address updates, lost certificates, and dividend processing. Located at 220B Ikorodu Road, Palmgrove, Lagos.
• Nigerian Exchange (NGX)flagshipStrategic or Co-development PartnerUnited Capital is a licensed dealing member of the Nigerian Exchange (NGX), a Supplemental Market Maker (SMM), and Designated Adviser. The company also has a strategic equity stake in Nigerian Exchange Group. Active participation in primary and secondary market trading, IPOs, rights issues, and bond listings.
• NASD OTC PlcsupportingStrategic or Co-development PartnerUnited Capital Securities is a registered dealing member of NASD OTC Plc, enabling dealing in over-the-counter equity and fixed income securities, extending market access beyond the formal exchange.
• FMDQ OTC Trading PlatformsupportingStrategic or Co-development PartnerUnited Capital Securities facilitates trading of fixed income securities including Treasury bills, Government Bonds, FGN Savings Bonds, FGN Sukuk Bonds, and Commercial Paper on the FMDQ OTC trading platform.
• CSCS (Central Securities Clearing System)coreOthersSecurities clearing and settlement partner for all equity transactions executed on the Nigerian Exchange. CSCS ensures secure and efficient post-trade processing of securities.
• AMF-UMOA (Autorité des Marchés Financiers)coreOthersRegulatory licensing authority for United Capital Asset Management West Africa Limited (UCAMWAL) operations in the WAEMU region (Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, Togo). UCAMWAL is licensed to provide world-class asset management services across West Africa's key markets.

Scale indicators10 records

Recent moves9 records

Expansion highlights6 records

Emerging players

• Renaissance Capital: Emerging-markets and Africa-focused investment bank with strong Nigerian and sub-Saharan ECM/DCM franchise; comparable in deal types and client mix (sovereigns, corporates, institutions) but with broader geographic scope.

Direct peers

• Vetiva Capital Management: Nigerian investment banking and asset management firm; competes with United Capital in DCM, ECM, and securities dealing, and is a peer for HNI and institutional portfolio mandates.
• Cordros Capital: Nigerian securities trading, asset management, and investment banking firm; directly comparable to United Capital Securities in NGX/NASD dealing and to United Capital Investment Banking in advisory mandates.
• FSDH Group: Nigerian merchant bank group offering investment banking, asset management, and securities trading; comparable to United Capital's DCM, portfolio management, and research-led advisory business.
• Asset & Resource Management (ARM) Holdings: Leading Nigerian asset management, pension, and investment banking group with mutual funds and HNI offerings; directly comparable to United Capital Asset Management and the broader group wealth franchise.
• CardinalStone Partners: Nigerian investment banking and securities dealing firm competing with United Capital Securities on NGX trading, ECM, and advisory mandates for institutional and corporate clients.
• Afrinvest West Africa: West African investment banking, securities trading, and asset management firm with operations spanning Nigeria and the region; comparable pan-African investment banking ambitions to United Capital's.
• Chapel Hill Denham: Nigeria-focused investment banking and securities firm with overlapping DCM/ECM, asset management, and securities trading capabilities; former employer of several United Capital executives and a close peer in deal league tables.

Broad incumbents

• Stanbic IBTC Holdings: Nigerian investment banking, asset management, and wealth management group under Standard Bank Group; competes directly with United Capital in DCM, ECM, portfolio management, and HNI wealth on the NGX, but at materially larger scale and capital base.
• Zenith Bank Plc: Tier-1 Nigerian bank with a large investment banking subsidiary (Zenith Capital) and asset management; competes with United Capital in DCM, ECM, and HNI wealth from a much larger balance-sheet and branch base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/unitedcap
• YouTubeyoutube.com/channel/UC07ZLKfSkCUUm3CBHIWBL_Q
• Facebookfacebook.com/UnitedCapitalPlc
• LinkedInlinkedin.com/company/unitedcapitalplc
• Instagraminstagram.com/unitedcapitalplc

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about United Capital Plc