United Capital Plc‘s latest subsidiary, United Capital Asset Management West Africa Limited (UCAMWAL), officially commenced operation with the launch of two CFA franc-denominated mutual funds in Abidjan, Côte d’Ivoire.
According to the statement filed on the Nigerian Exchange, the newly unveiled mutual funds, UCAMBAL Bond Fund and UCAMWAL Diversified Fund, aim to provide sophisticated and accessible wealth management solutions to investors in Francophone West Africa.
The funds are available to investors across the eight member countries in the WAEMU region – Benin, Burkina Faso, Côte d’Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo.
Highlighting the significance of the product launch, Mr. Peter Ashade, the group chief executive, said,
“This product launch signals the kick-off of the expansion of our pan-African footprint starting with the WAEMU region. As a group, our mission is to shape a more financially inclusive and economically resilient Africa, for Africa by Africans.
“We are here to make a difference, and we are bringing our proven investment expertise into this market to support cross-border investment and Africa-driven prosperity. This is the beginning of a legacy, for wealth creation, financial empowerment, and a new chapter in Africa’s story of innovation and enduring success.”
Sharing the group’s long-term vision for the WAEMU region, Mr. Ejikeme Okoli, director of Africa operations at United Capital Plc, stated that the expansion strategy is designed to create impact in the area and collaborate with the local economies in creating value while delivering tailored and inclusive financial solutions in the region.
Labas Bamba, managing director of UCAMWAL, noted that the fund came at a critical time when government and private institutions seek innovative solutions to mobilise domestic savings and channel them into productive investment.
Adding that with the United Capital Plc’s strong track record, managing nearly N2 trillion in assets and more than $200 million in mutual funds in Nigeria, UCAMWAL is well-positioned to become a leading investment partner across the region.
