United Capital Group received approval from the Ethiopian Capital Market Authority (ECMA) on 5 June 2026 to operate as an investment bank in Ethiopia, through its wholly owned subsidiary United Capital Financial Services PLC, becoming the first foreign investment bank licensed in the country.
REGULATORY CONTEXT AND PERMIT SCOPE
The approval granted by the Ethiopian Capital Market Authority allowed United Capital Group to engage in investment banking activities inside Ethiopia’s jurisdiction.
The licensing process involved the Ethiopian Capital Market Authority, the Ethiopian Investment Commission and coordination with Nigerian regulators. A Deloitte subsidiary, D&T Management Consulting, had earlier been licensed as a securities adviser, but United Capital is the first foreign institution to receive an investment banking licence.
OPERATIONS AND PLANS
Chief executive Peter Ashade said the licence reflected growing pan-African financial cooperation.
United Capital has injected more than $1.5 million into its Ethiopian operations and may also seek to manage collective investment schemes. The regulator expects it to hire and train Ethiopian professionals.
Sources: Capital (Ethiopia); Nairametrics
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