United Capital Plc has become the first foreign investment bank to secure an operating licence in Ethiopia. The group has also received approval to operate in Rwanda.
African institutions are increasingly leading, competing, and succeeding across the continent.
For decades, Africa witnessed foreign capital flowing in while profits largely flowed out.
That narrative is beginning to change.
This is Africapitalism in action — a vision that recognizes the importance of both indigenous and international capital working together to finance Africa’s development and unlock shared prosperity.
This development is particularly noteworthy because Ethiopia only recently opened its financial sector to foreign participation, making United Capital’s entry a historic step for both the company and the ongoing integration of African capital markets. This is Africa renaissance.
Congratulations to the transformational Prime Minister of Ethiopia, His Excellency Abiy Ahmed Ali, for promoting economic reforms and regional cooperation. The Director General of Ethiopian Capital Market Authority, Ms. Hana Tehelku, and the team at UCAP on this landmark achievement.
