News Finances

UBA Launches Asset Management Subsidiary in Côte d’Ivoire

UBA Launches Asset Management Subsidiary in Côte d’Ivoire
Friday, 30 May 2025 19:43

• UBA Group expands asset management arm to Abidjan with UCAMWAL
• Subsidiary to offer diversified investment solutions beyond Nigeria
• Strategy aims to tap into growing West African demand for financial products

United Bank for Africa (UBA), led by Nigerian businessman Tony Elumelu, has launched a new asset management subsidiary in Côte d’Ivoire as part of its regional expansion. The new entity, United Capital Asset Management West Africa Limited (UCAMWAL), was officially inaugurated on May 29, 2025, in Abidjan.

UCAMWAL represents the first expansion of UBA’s asset management operations outside Nigeria. From its base in Abidjan, the subsidiary will serve the broader West African market by offering diversified investment solutions to individuals, businesses, and institutions seeking alternatives to traditional placements such as real estate and savings accounts.

The decision to launch in Côte d’Ivoire builds on UBA’s existing presence in the country through its commercial banking division. The Ivorian market is increasingly drawing interest from clients seeking a broader range of financial instruments.

Côte d’Ivoire already hosts major asset management players, including the National Social Security Fund (CNPS), which manages more than CFA1,000 billion ($1.72 billion) in assets. Of that, 48% is invested in government bonds within WAEMU markets, 35% in shares of companies listed on the BRVM, and the remainder in private and unlisted investments.

The move into Côte d’Ivoire follows the recent launch of the Children Investment Fund (CIF) in Nigeria, a naira-denominated product designed to help families save for education, healthcare, and other milestones. United Capital Asset Management now oversees more than 1,000 billion naira ($630 million) in assets across 10 open-ended mutual funds.

This regional strategy underlines the group’s ambition to develop long-term investment offerings across West Africa, capitalizing on Abidjan’s growing status as a financial hub.

On the same topic
Ora Technologies secures its largest funding to date, led by Azur Innovation Fund Total capital raised reaches $11.9 million since its launch...
• IMF extends Niger’s Extended Credit Facility (ECF) program by one year through December 2026.• IMF approves a $41 million disbursement tied to...
EBRD grants $100 million loan to Banque Misr to expand credit access for SMEs and women-led businesses. Loan supports Egypt’s green finance...
UTB’s restructuring delayed to end-2026 due to incomplete audits; reorganization plan expected by March. Despite a CFA 15.2B injection, the bank...
Most Read
01

• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....

UEMOA: Inflation Drops to 0.6% in May, Driven by Lower Food Prices
02

• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...

WAEMU Sees Easing Conditions on Regional Interbank Market
03

• The U.S. imposed a 20% tariff on cashew exports from Vietnam and a 40% tax on suspected transshipm...

U.S. Tariffs on Vietnam Cashews May Disrupt Trade, Hit African Growers (Interview)
04

Cauri Money launches Gajo Money, an e-wallet for the Cameroonian diaspora, targeting €120 mil...

Cauri Money Targets Cameroonian Diaspora with Digital Wallet Launch
05

Backbone Infrastructure will build a $15 billion refinery in Nigeria's Ondo State, with a capac...

Nigeria’s Second Largest Refinery Planned with $15 Billion Investment
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.