United Capital Plc has deepened its pan-African presence with the official launch of United Capital Asset Management West Africa Limited (UCAMWAL), its first fully operational subsidiary in Francophone West Africa. The launch, held in Abidjan, Côte d’Ivoire, also featured the unveiling of two new mutual funds denominated in CFA francs, specifically targeted at investors across the eight-member West African Economic and Monetary Union (WAEMU) bloc.
The two investment products—the UCAMWAL Bond Fund and the UCAMWAL Diversified Fund —will be available in Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. These funds are aimed at supporting long-term wealth creation through diversified, risk-adjusted solutions tailored to individual and institutional investors within the region.
Speaking at the launch, United Capital Group Chief Executive Officer, Peter Ashade, described the milestone as a crucial step in the company’s strategic ambition to shape a more financially inclusive Africa. He emphasized that UCAMWAL’s entrance into the WAEMU region signals the group’s broader commitment to enabling financial empowerment and pan-African prosperity.
“This product launch is not just about cross-border investment—it’s about a legacy of shared prosperity, financial empowerment, and inclusive wealth creation,” Ashade said. “With these CFA-denominated funds, we’re extending sophisticated yet accessible financial tools to a new audience, helping to fuel Africa’s economic resilience.”
Director of Africa Operations, Ejikeme Okoli, gave further insight into the fund structures. He explained that the UCAMWAL Bond Fund is a low-risk, open-ended mutual fund focused on fixed income and money market instruments. It is designed for conservative investors who prioritize capital preservation and steady returns.
In contrast, the UCAMWAL Diversified Fund adopts a balanced approach by allocating assets across fixed income securities, money markets, and equities, making it suitable for investors seeking capital appreciation alongside income diversification.
“Our entry into WAEMU is grounded in partnership, not just presence,” Okoli stated. “This is about leveraging local insights, managing risks smartly, and delivering financial solutions that create long-term value for the people and economies of this region.”
Managing Director of UCAMWAL, Labas Bamba, highlighted the strategic timing of the launch, pointing to a growing demand within WAEMU for more dynamic investment vehicles that can channel domestic savings into productive ventures. He stressed that these funds are specifically built for the unique realities of Francophone West Africa.
“Today’s launch represents a transformative moment in wealth and asset management in this region,” Bamba said. “With approval from the AMF-UMOA, and backed by the strong legacy of United Capital Plc—which manages nearly ₦2 trillion in assets and over $500 million in mutual funds in Nigeria—UCAMWAL is well-positioned to support individuals, institutions, and governments alike.”
Bamba emphasized that UCAMWAL will offer a full range of services, including portfolio management, mutual fund offerings, and financial advisory, and will operate under the license of the WAEMU Financial Markets Authority (AMF-UMOA), covering all eight regional member states.
United Capital’s launch of UCAMWAL and its suite of CFA franc mutual funds marks a significant chapter in regional capital market development, as it aims to bridge the gap between savings and investment, deepen financial inclusion, and support regional economic growth through trusted, professional asset management.
