United Capital, a prominent Pan-African financial and investment services group, recently celebrated significant recognition at the 2024 Banks and Other Financial Institutions Awards, reflecting the company’s commitment to excellence in the financial sector. The Group Chief Executive Officer, Peter Ashade, emphasized that the multiple awards received would serve as motivation for the firm to enhance its services further. Among the five prestigious awards conferred upon United Capital were accolades for Financial Services Group of the Year (Non-Banking), Investment Management Firm of the Year, Innovative Fund Manager of the Year, Stockbroking Company of the Year, and Trustees Company of the Year. These achievements not only underline the firm’s standing in the industry but also its dedication to providing world-class financial solutions.
In his remarks, Ashade expressed gratitude for the recognition from peers in the industry, viewing the awards as a validation of the group’s strategy and operational accomplishments. He conveyed that the honors reaffirm United Capital’s commitment to creating exceptional value for its clients, investors, and shareholders. The accolades signify the trust and confidence placed in United Capital by its stakeholders and are seen as an endorsement of its operational excellence across various financial sectors.
Additionally, Ashade’s recent recognition as one of Nigeria’s top CEOs at the BusinessDay Top CEOs Awards further highlights his leadership role in steering United Capital towards its innovative and growth-oriented objectives. He noted that the achievements reflect not just the firm’s current successes but also serve as a source of inspiration for ongoing innovation and boundary-pushing endeavors in the financial landscape of Nigeria and Africa. The company’s mission to set new benchmarks in the finance industry signifies its ambition to position itself as a leader and pioneer in delivering innovative financial services.
The firm’s robust performance is further illustrated in its interim report for the third quarter of 2024. United Capital reported an impressive 61 percent surge in gross earnings, reaching N28.17 billion, up from N17.51 billion in the same period of the previous year. Such financial growth not only demonstrates the firm’s resilience in a challenging economic environment but also reflects its strategic initiatives and strong operational management. Additionally, profit before tax saw a staggering increase of 93 percent year-on-year, culminating in N18.73 billion, while profit after tax also experienced significant growth, rising by 89 percent to N15.98 billion. This remarkable financial performance underscores the effective strategies employed by the firm’s management team.
In maintaining its innovative edge, United Capital has made notable strides in diversifying its portfolios and service offerings. The company’s leadership in the issuance of Nigeria’s first-ever Domestic FGN US Dollar Bond, which raised over $900 million, exemplifies its pioneering spirit and commitment to developing the financial markets. Furthermore, the launch of its seventh subsidiary, UCEE Microfinance Bank, signifies the firm’s dedication to expanding its operational footprint and broadening access to financial services for a wider audience. This diversification is aimed at enhancing financial inclusion and providing tailored solutions to meet the diverse needs of clients.
Overall, United Capital’s recent accolades and financial results illustrate its successful positioning as a key player in Africa’s financial landscape. The company’s leadership ethos, exemplified by Ashade’s vision, combined with its strong performance metrics, reflect a commitment to sustainable growth and innovation. As United Capital continues to push boundaries and lead in the evolution of financial services in Nigeria and beyond, the anticipation of its future endeavors remains high, bolstered by the recognition it has received from the industry. The commitment to excellence and a forward-looking approach continues to inspire confidence among stakeholders, promising ongoing advancements and successes for the firm.
