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United Capital’s African expansion driving growth in regional investment banking

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The story of African development is undergoing a profound, historic shift. For decades, the narrative was dominated by foreign capital, with investments flowing inward from distant global capitals, development projects managed by external actors, and the resulting profits regularly finding their way back across oceans. While Africa has always been rich in resources and opportunities, its financial destiny was largely shaped by outsiders. Today, that old story is being rewritten. Across the continent, African-owned institutions are stepping forward, expanding beyond their national borders, mobilising local capital, and proving that Africa possesses both the expertise and the financial strength to fund its own progress.

In the vanguard of this transformation is United Capital Plc, whose expansion into Ethiopia and Rwanda marks a defining moment in the evolution of regional investment banking.

​The Nigerian financial services giant recently achieved a historic milestone by becoming the first foreign investment bank to secure an operating license in Ethiopia, one of Africa’s fastest-growing economies. Around the same time, the company obtained regulatory approval to operate in Rwanda, significantly strengthening its footprint in East and Central Africa. These milestones represent much more than standard corporate expansion; they symbolise the growing confidence of African financial institutions in the continent’s long-term future and highlight the increasing integration of Africa’s capital markets, proving that cross-border collaboration is a commercial reality.

​The entry into Ethiopia is particularly momentous. With a population exceeding 120 million people and an ambitious economic reform agenda, Ethiopia has historically maintained a tightly controlled, closed financial sector. The government’s recent decision to gradually liberalise the financial industry has attracted global attention, and United Capital’s successful entry positions the company as a foundational architect in Ethiopia’s evolving capital market ecosystem. For Ethiopia, granting United Capital the country’s very first foreign investment banking licence signals deep trust, reflecting confidence in the institution and validating the broader vision of economic openness championed by Prime Minister Abiy Ahmed to modernise the economy and encourage private-sector participation.

Rwanda presents a similarly compelling success story. Widely regarded as one of Africa’s most business-friendly destinations, Rwanda has steadily transformed its capital, Kigali, into a premier regional financial hub. With this new regulatory approval, United Capital is authorised to provide a full suite of services, including investment banking, portfolio management, trust services, and capital market advisory services, thereby strengthening Rwanda’s position as a strategic gateway for investments flowing into the wider region.

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​Together, Ethiopia and Rwanda offer direct access to some of the continent’s most dynamic economic corridors. Their youthful populations, expanding middle classes, urgent infrastructure needs, and strategic trade links make them prime destinations for long-term growth. By establishing a physical presence in these markets, United Capital presents itself directly at the intersection of opportunity and structural transformation, creating reliable pathways for local businesses seeking both expansion capital and world-class financial advisory services.

At the same time, it unlocks new wealth-creation opportunities for individuals and institutions through sophisticated fund management offerings, diverse investment options, and tailored portfolio management solutions designed to preserve and grow wealth across generations.

​However, the real weight of this expansion extends far beyond corporate balance sheets and market share. It perfectly embodies the philosophy of Africapitalism, a school of thought championed by renowned investor, entrepreneur, and Group Chairman, Heirs Holdings, Tony Elumelu, a major investor in United Capital PLC. The core premise of Africapitalism is that Africa’s private sector must play a leading role in driving economic development, and that true, sustainable prosperity is generated when businesses commit to long-term investments that create both economic profit and social wealth.

For years, Mr Elumelu has argued that Africa’s development cannot depend solely on foreign aid or external borrowing. Rather, sustainable growth occurs when African businesses actively invest in African opportunities, create sustainable jobs, build domestic industries, and unlock the immense potential of the continent’s people.

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United Capital’s quarterly profit jumps 66% as revenue crosses N17 billion

Through institutions like the Tony Elumelu Foundation and his leadership of major corporate engines like UBA Group, Transcorp, and Heirs Energies, Elumelu has consistently advocated for private-sector-led development as the only reliable path to true economic independence.

​This vision is rapidly becoming an everyday reality. Across critical sectors, African companies are proving they can compete at global standards while solving deeply rooted local development challenges. The expansion of institutions like United Capital reflects the growing maturity of African financial markets. It signals the rise of a new generation of homegrown champions capable of mobilising capital on a massive scale.

United Capital’s journey from Nigeria into new regional markets mirrors a broader continental ambition, most clearly seen in initiatives such as the African Continental Free Trade Area, which aims to deepen economic integration, encourage cross-border investment, and build interconnected financial systems that can support large-scale industrialisation. In this ecosystem, investment banks act as vital engines that connect idle capital with productive opportunities, facilitate complex infrastructure financing, and enable widespread wealth creation.

​Industry analysts emphasise that one of the most valuable assets United Capital brings to Ethiopia and Rwanda is the transfer of knowledge, as the migration of technical expertise, professional training, market insights, and institutional best practices will significantly accelerate the development of local financial ecosystems. Furthermore, this expansion sends a powerful message about Nigeria’s leadership role within Africa’s financial services landscape. As Nigerian institutions expand across the continent, they export an invaluable wealth of innovation and investment solutions refined over decades of operating in one of Africa’s most competitive regulatory markets.

This export of talent strengthens regional cooperation and reinforces the foundational truth that African solutions can effectively solve African challenges. Ultimately, United Capital’s milestone entry into Ethiopia and Rwanda reflects a continent taking full ownership of its economic destiny, proving that the vision of Africapitalism is no longer a distant aspiration but a powerful reality unfolding right now.

Dan Aibangbe is a Media and Public Relations Consultant


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AXA Mansard Health Takes World Hepatitis Day Campaign to Bariga with Free Screenings and Community Relief

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PRESS RELEASE—As part of efforts to promote preventive healthcare and early detection of diseases, AXA Mansard Health has taken its hepatitis awareness campaign to Bariga, Lagos, providing residents with free screening, health education and support services.
The initiative, organised to commemorate World Hepatitis Day 2026, reflects the health management organisation’s continued focus on improving access to preventive healthcare, particularly in communities where routine screening and health information may be limited.
Residents who participated in the outreach received free hepatitis screening and were educated on prevention, diagnosis and the importance of seeking timely medical attention.
The programme also extended beyond medical intervention, with relief packages distributed to vulnerable families in the community as part of efforts to provide immediate support to beneficiaries.
According to AXA Mansard Health, taking health education and screening directly to communities is critical to closing gaps in awareness and access to preventive services.
The initiative underscores the growing importance of preventive healthcare in Nigeria, where delayed diagnosis and limited access to routine screening can worsen the health and financial consequences of treatable diseases.
For insurers and health maintenance organisations (HMOs), greater emphasis on prevention and early detection could also help reduce long-term healthcare costs by encouraging timely intervention before illnesses become more severe.
The Bariga outreach therefore highlights a broader shift in healthcare delivery towards awareness, screening and early intervention rather than treatment after diseases have advanced.
AXA Mansard Health said it would continue to support initiatives that equip Nigerians with the knowledge and resources needed to make informed decisions about their health.
The organisation stressed that sustained public education and improved access to screening are essential to preventing hepatitis from progressing into serious and potentially life-threatening conditions.
The campaign also demonstrates the role of private-sector, early detection and preventive care.

The post AXA Mansard Health Takes World Hepatitis Day Campaign to Bariga with Free Screenings and Community Relief appeared first on Business Today NG.

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COP17: Africa must connect science to action to tackle land degradation — Expert

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In this interview with PREMIUM TIMES on the sidelines of COP17 in Ulaanbaatar, Mongolia, Oluseyi Ifatimehin, a Professor of Geography (Environmental Resource Planning) at Kogi State University, Nigeria, and Science and Technology Correspondent to the United Nations Convention to Combat Desertification (UNCCD), outlines the scientific and institutional gaps confronting Nigeria and other African countries and proposes stronger land and drought observatories, artificial intelligence, satellite technology, indigenous knowledge and improved science-policy mechanisms to tackle the challenges.

Excerpt:

PT: What are the biggest scientific gaps preventing Nigeria and other African countries from effectively addressing land degradation and drought?

Ifatimehin: From my perspective, Africa does not primarily suffer from a lack of scientific knowledge. The bigger problems are gaps in data continuity, local-scale evidence, technology deployment and the capacity to translate evidence into decisions. For Nigeria, one major gap is the lack of sufficiently dense, continuous and interoperable datasets on soil health, land degradation, groundwater, vegetation, drought indicators and land-use change. Satellite data are increasingly available, but they need to be combined with reliable ground observations to produce information that is useful at the farm, watershed and community scales.

A second gap is predictive capacity. We need to move from asking, “Where has degradation or drought occurred?” to ask, “Where is it likely to occur next, when will it happen, how severe will it be, and what should farmers and governments do now?”

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A third gap is the shortage of sustained investment in African scientific institutions, laboratories, field-monitoring networks, data infrastructure and technical personnel. Nigeria’s priority should therefore be to establish stronger national and regional land and drought observatories, integrate satellite and ground data, strengthen universities and research institutions, and develop indicators that measure outcomes. These could include hectares of degraded land restored, changes in soil organic carbon, vegetation recovery, water availability and the number of farmers receiving actionable early warnings.

PT: Why is there a disconnect between research institutions and policymakers, and how can COP17 help close that gap?

Ifatimehin: The disconnect is partly because research and policymaking often operate on different timelines and communicate in different languages. Researchers may produce excellent scientific papers, but policymakers need concise answers to practical questions: What is the problem? What will it cost? What intervention works? Where should it be implemented? What result can we expect within three or five years? There is also insufficient institutional linkage between universities, government ministries, agencies and communities. Research funding is frequently project-based, while policy implementation requires long-term evidence and monitoring. COP17 can help by strengthening the UNCCD Science-Policy Interface (SPI) and encouraging countries to establish stronger national science-policy mechanisms. Universities should not be viewed simply as institutions that produce publications; they should become knowledge partners in national land-restoration programmes.

In line with this, proposals from two Nigerian universities — the Federal University Lokoja (FUL) and Confluence University of Science and Technology (CUSTECH), Osara — were presented at the COP17 side events.

FUL presented two proposals: ECO-HUB for Land Restoration Technical Education, focused on ecopreneurship, restored land, resilient food systems and shared prosperity; and Building a University-led Knowledge Curriculum and Research Platforms for Sustainable Rangeland Resource Governance, Livestock Reform and Peace-building for Nigeria’s Sub-humid and Humid Ecological Zones.

CUSTECH presented Measuring Nature, Building Skills and Restoring Land: Bio-resource Quantification, Ecosystem Evaluation and Land Degradation Neutrality Capacity in Kogi State, Nigeria.

For Nigeria, I would like to see a measurable mechanism whereby scientific baselines, measurable targets, independent monitoring and periodic evidence reviews accompany major land-restoration policies and programmes. The ultimate test is simple: Can scientific evidence change a government decision, improve an investment or change what happens on the farm? If the answer is yes, then we are closing the science-policy gap.

PT: What technologies could Nigeria realistically deploy to predict drought and prevent its worst impacts?

Ifatimehin: Nigeria does not need to wait for futuristic technology. Much of the technology required already exists; the challenge is integrating it and deploying it at scale.

First is satellite Earth observation. Satellite systems can monitor vegetation stress, soil moisture, rainfall anomalies, surface water and land-use change across Nigeria. This allows the government to identify emerging drought conditions over large areas much faster than conventional field surveys.

Second is artificial intelligence and machine learning. AI can combine satellite observations with rainfall, temperature, soil, crop, hydrological and historical drought data to identify patterns and generate localised drought-risk forecasts. Third is multi-hazard early-warning systems. Nigeria should connect meteorological and hydrological forecasts with agricultural advisory services so that a warning becomes an actionable message — for example, when to plant, which crop or variety is more appropriate, when to conserve water, or where livestock movement and water resources may become constrained.

Fourth is climate modelling and seasonal forecasting, which can support planning several months ahead. But technology alone is insufficient. Nigeria needs an end-to-end drought information system linking observation to forecasting, early warning, communication, early action and impact assessment. A measurable target could be to ensure that drought warnings reach vulnerable farming and pastoral communities before critical agricultural decisions are made, rather than after losses have already occurred.

PT: How can modern science and Indigenous knowledge be combined at the community level?

Ifatimehin: The answer is not to choose between modern science and Indigenous knowledge. We need to put them into dialogue. Farmers and pastoralists possess generations of knowledge about rainfall patterns, soil characteristics, pasture availability, water sources, drought indicators, livestock behaviour and locally adapted crops. Modern science brings remote sensing, climate modelling, soil analysis, forecasting and new technologies.

The most effective approach is therefore co-production of knowledge. Scientists should work with communities to test Indigenous observations against meteorological, ecological and satellite data and determine what is reliable, where it works and under what conditions. For example, if pastoral communities have traditional indicators for anticipating pasture or water scarcity, these can be assessed alongside satellite vegetation indices, rainfall forecasts and groundwater information. Where both sources provide consistent signals, the resulting early-warning system is likely to have greater local credibility and uptake.

We should also ensure that communities are not merely treated as recipients of scientific information but as knowledge partners.

ALSO READ: COP17 advances $1.3bn for land restoration, puts rangelands at centre

A measurable approach would be to establish community demonstration sites where restoration interventions are jointly designed, tested and monitored, with indicators such as vegetation recovery, soil health, water availability, livestock productivity and household livelihoods.

PT: What should governments, universities and development partners do differently to move African innovations from laboratories into practical solutions?

Ifatimehin: Africa needs to change the way it measures research success. A scientific publication is important, but it should not be the final destination.

Governments should create innovation-to-implementation pathways in which promising technologies are identified, field-tested, independently evaluated and then incorporated into national programmes and procurement systems.

Universities should strengthen technology-transfer offices, innovation hubs, demonstration farms and partnerships with farmers, pastoralists, government and industry. Research funding should include resources for field validation, scaling and adoption, not only laboratory research.

Development partners should move beyond financing short-term pilot projects. Where a technology has demonstrated effectiveness, financing should support the transition from pilot to demonstration, scale-up and institutional adoption.

The private sector is also critical because governments and donors alone cannot finance the scale required.

For Nigeria, I would propose a Land Restoration Innovation Pipeline with clear stages: Research → Field testing → Independent validation → Community adoption → Investment readiness → Scale-up → Impact measurement. Success should be measured not simply by the number of papers or projects produced, but by outcomes such as hectares restored, farmers and pastoralists reached, increases in soil and water productivity, drought losses avoided, jobs created, technologies commercialised and sustained improvements in livelihoods.

My central message from COP17 is that Africa does not need to reinvent science; it needs to connect the science we already have to decisions, finance and action.

Nigeria has universities, research institutions, satellite technologies, climate scientists, Indigenous knowledge and a growing innovation ecosystem. The opportunity now is to connect these assets through stronger science-policy institutions, digital knowledge platforms, predictable financing and measurable implementation. “Restoring Land, Restoring Hope” must therefore mean moving from knowledge to action, and from isolated projects to nationally and locally scalable solutions.

PT: Thank you so much for your time, Prof.

Ifatimehin: Thank you for the opportunity. Bye.


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