Saturday, September 26, 2026
Home Blog Page 159

United Capital makes history as Ethiopia’s first foreign investment bank

0

The Ethiopian Capital Market Authority has granted Nigeria’s United Capital Group the country’s first foreign investment banking licence, marking a historic milestone for Ethiopia’s emerging capital market.

The licence, issued on 5 June 2026, followed months of regulatory review and legal vetting involving the Capital Market Authority, the Ethiopian Investment Commission and other relevant government institutions, according to ECMA Director General Hana Tehelku, who spoke exclusively to Capital.

United Capital will operate through a wholly owned local subsidiary, United Capital Financial Services PLC, making it the first foreign investment bank licensed to establish a base in Addis Ababa. The company said it has brought in more than $1.5 million in capital to fund its investment banking operations in Ethiopia.

Hana said the licence reflects Ethiopia’s efforts to build a robust and globally competitive capital market while opening the door to foreign expertise and capital inflows. She said the regulator carried out extensive due diligence, including verification of the company’s regulatory standing with Nigerian authorities before approving the application.

According to the Authority, United Capital may eventually operate under up to four licence categories, including investment banking and collective investment scheme management.

The entry of the Nigerian firm is expected to signal confidence in Ethiopia’s nascent capital market and encourage other foreign institutions to consider entry. While D & T Management Consulting, a Deloitte subsidiary, was previously licensed as a securities investment adviser, United Capital is the first foreign institution to receive an investment banking licence.

United Capital Group CEO Peter Ashade praised the Ethiopian government and Prime Minister Abiy Ahmed for reforms aimed at opening and modernizing the financial services sector. He also said the company received strong support from the Ethiopian Capital Market Authority during the licensing process.

“We are honored to be the first foreign institution licensed to provide financial services in Ethiopia,” Ashade told Capital. He said the move was a milestone for both Nigeria and Ethiopia and reflected growing pan-African financial cooperation.

Ashade said United Capital intends to contribute to the growth of Ethiopia’s capital market by supporting human capital development, capacity building and the training of local professionals.

Hana said the greatest contribution expected from the company is not only financial capital, but also human capital and technical expertise. She said United Capital will be required to hire, train and empower Ethiopians so that its presence can help develop a broader pool of domestic investment bankers, analysts and compliance specialists.

United Capital’s Africa Director, Ejikeme Okoli, said the firm’s experience across Africa positions it to help accelerate the development of Ethiopia’s financial markets. He said the company sees Ethiopia as part of a broader pan-African strategy that already includes operations in several countries across the continent.

The Authority also said it is working with the Nigerian Securities and Exchange Commission on regulatory benchmarking and capacity-building initiatives.

No Peace Without Us: Ta’sis Alliance Rejects Islamists and Warns Against Exclusion in Sudan Talks

0

The Ta’sis (Sudan Founding Alliance) alliance announced ahead of its meeting with the five-party mechanism that it firmly rejects any political or negotiation arrangements outside established international frameworks, declaring that any peace process bypassing its involvement will be nothing more than a futile “public relations project.”

Prior to the start of the anticipated consultation forum with the five-party mechanism on the Sudanese crisis, the alliance reflected its firm stance during a press conference it held in the Ethiopian capital, Addis Ababa.

The alliance’s official spokesperson, Ahmed Tagad Lissan, forcefully denied rumors circulating about any direct or indirect contact or meetings with the Sudanese army or what he described as the “de facto authority” in Port Sudan, calling the allegations entirely unfounded and reaffirming the group’s strict commitment to international peace initiatives.

Central to the alliance’s demands is an absolute veto on the participation of the Islamic Movement, the National Congress Party, or any of their political fronts in future settlements. Linking its political engagement directly to the framework established by the Quartet on Sudan, the Ta’sis alliance is demanding an immediate three-month humanitarian truce through the Jeddah platform as a prelude to reaching a permanent ceasefire.

The alliance argues that addressing the country’s catastrophic humanitarian situation must take precedence over forming dialogue committees, asserting that moving directly to political talks before addressing these conditions is entirely premature.

Beyond the immediate ceasefire demands, the alliance clarified its stance on Sudan’s future government structure and its own geopolitical weight.

While the alliance defended the conceptual framework of forming a parallel government, spokesperson Lissan noted that securing official recognition is not their priority at this stage; instead, they are leveraging an extensive network of diplomatic relationships with international systems, as well as regional and international powers.

On the other hand, the alliance criticized the lack of impartiality among certain members of the five-party mechanism, specifically targeting the African Union’s representative to Sudan, Mohamed Baalish.

However, it maintained that the African Union remains the most appropriate platform for sponsoring Sudanese dialogue, provided that the participating parties are selected based on objective criteria appropriate to the nature and complexities of the conflict.

Backing the alliance’s firm position, leadership body member Advisor Mohamed Al-Mukhtar Al-Nour held the Islamist movement responsible for the continuation of the war. He argued that the Rapid Support Forces (RSF) did not initiate the conflict but rather found themselves confronted by it due to the political developments that followed the October 2021 coup.

Al-Nour concluded by reminding mediators of the realities on the ground, noting that the Ta’sis alliance controls vast areas of Sudanese territory and stating that any attempt to marginalize or exclude them represents an attempt to disregard the true balance of power and forcibly impose political agendas.

Russian language day celebrated at UNECA ahead of global observanceBy our staff reporter

0

The headquarters of the United Nations Economic Commission for Africa (UNECA) hosted a high-profile diplomatic and cultural event on June 4, 2026, to mark Russian Language Day. Held ahead of the official global observance on June 6, the event was noted for strengthening the growing diplomatic, educational, and cultural ties between the Russian Federation and African nations.

The ceremony was attended by UNECA Executive Secretary Claver Gatete, diplomats from various countries, representatives of United Nations agencies, and members of the Russian community living in Addis Ababa.

Established by UNESCO in 2010, Russian Language Day is celebrated annually by the United Nations on June 6. This specific date was chosen to coincide with the birthday of Alexander Pushkin, who is widely considered the father of modern Russian literature. Pushkin’s masterpieces, such as the novel Eugene Onegin and the poem The Bronze Horseman, laid the foundation for the beauty of the language.

Speaking at the event, Russia’s Ambassador to Ethiopia, Evgeny Terekhin, stated that the celebration of Russian Language Day is inextricably linked with Pushkin’s historical legacy. Beyond literature, organizers pointed out that this initiative is crucial for maintaining genuine equality among the six official languages of the United Nations. In international relations, language serves as the ultimate key to understanding a nation’s mindset and acts as a foundation for fully equitable global dialogue.

With more than 250 million speakers worldwide, the Russian language continues to play a vital role across various international sectors. From international politics and diplomacy to global trade and modern scientific research, its impact remains highly significant. Reports indicate that the works of famous authors like Leo Tolstoy, Fyodor Dostoevsky, and Anton Chekhov have been translated into various languages across the African continent, serving as a cultural bridge for many decades.

The central theme of the celebration highlighted the historical and contemporary role of academic exchange in fostering deep mutual understanding between Russia and Africa. It was noted that mastering the Russian language opens doors for international students to directly access unique technologies, scientific achievements, and deep practical expertise.

Ambassador Terekhin stated “Our universities educated hundreds of thousands of highly qualified specialists. By studying in Russian, African students received a foundational education and mastered complex fields – from medicine and engineering to public administration. Today, many of these alumni hold key positions in government and the economic sectors of their respective countries.”

This tradition of educational cooperation is currently experiencing a major resurgence. Current statistics reveal that 35,000 African students are currently pursuing their higher education at various Russian universities.

The event concluded with a cultural showcase featuring Russian poetry recitals by Ethiopian graduates of Russian universities, traditional dances, and musical performances. Attendees also toured a special exhibition showcasing Russian art, photography, and traditional artifacts.

iibGroup Expands Chevening Partnership to Ethiopia as Part of Broader Regional Engagement

0

Building on its successful partnership with the Chevening Scholarships programme in Cabo Verde and Djibouti, iibGroup has renewed its support for the 2026–2027 academic year and expanded the initiative to Ethiopia. This year, three fully funded Chevening scholarships will be awarded across Africa, one each in Cabo Verde, Djibouti, and Ethiopia, reinforcing iib’s commitment to education, leadership development, and capacity building across the continent.

A formal signing ceremony was held on Tuesday, 2 June, at the residence of the UK Ambassador in Addis Ababa to officially mark the partnership. The event brought together H.E. Darren Welch, UK Ambassador to Ethiopia & Permanent Representative to the African Union, and Sohail Sultan, Chairman of iibGroup. The ceremony was attended by a distinguished group of stakeholders, including S.K. Husain, Maruf Ahmed, Mateen Beg, Aynalem Ababu and Farah Sayeed, representing iib. Zafar Sultan, Scott Lewis and Ali Khuatau were also in attendance. The ceremony highlighted the collective commitment of all parties to foster meaningful collaboration and strengthen strategic partnerships in support of shared objectives.

Speaking at the occasion, Sohail Sultan, Chairman of iibGroup, said, “Over the past year, students supported through the iib Chevening Scholarships have demonstrated the transformative power of investing in talent. Their achievements are generating positive ripple effects, not only in their own lives but also across their communities. By extending this partnership to cover Ethiopia, we reaffirm our commitment to nurturing future leaders and advancing sustainable and inclusive development across the continent. As an institution with an active presence in emerging markets, supporting social development is of critical importance to us. We are immensely proud to work closely with the FCDO and its local representatives on initiatives we truly believe in. Education, in our view, is fundamental to both social and economic progress, and the Chevening programme represents the very best of British values.”

H.E. Darren Welch, UK Ambassador to Ethiopia & Permanent Representative to the African Union, stated, “This new partnership with iib will create opportunities for the next generation of women Ethiopian leaders through our Chevening programme. We are proud to be collaborating with iib to support Ethiopian talent, and through supporting scholarships in the financial sector, we will be giving opportunities to learn about the London market, one of the world’s biggest and most innovative. Through the Chevening programme, we are investing not only in education, but in the future of Ethiopia’s financial sector and its global connections. We look forward to seeing the impact these brilliant scholars will have in the years ahead.”   


The Chevening Scholarship initiative, funded by the UK Government, is aimed at exceptional individuals with proven leadership potential and a strong drive to make an impact. The programme fully supports postgraduate studies at universities across the United Kingdom while also connecting scholars to an influential international community of more than 60,000 alumni spanning over 160 countries and regions worldwide.
Beyond covering tuition and living expenses, iib will provide selected scholars with mentorship, professional guidance, and hands-on exposure to its diverse portfolio of initiatives through active involvement in meaningful projects across the organisation. This continued commitment reflects iib’s dedication to developing future leaders, creating lasting social impact, and empowering talented individuals to drive innovation and contribute to sustainable development within their communities and beyond.

 About iibGroup Holdings W.L.L. (Bahrain)iibGroup is a diversified international investment and banking group with operations across East Africa, the Middle East, West Africa, and the Caribbean. The Group provides commercial banking, structured investment and advisory solutions while also deploying capital into high-impact sectors such as trade, digital infrastructure, and financial inclusion. Through its regional platforms, iibGroup supports SMEs, empowers women- and youth-led enterprises, and channels capital to industries that strengthen regional integration and sustainable growth across emerging markets. 

About iib East Africa iib East Africa is a licensed banking institution based in Djibouti, with a representative office in Addis Ababa, Ethiopia, serving corporate and institutional clients across the Ethiopia–Djibouti corridor. The bank is committed to advancing financial inclusion, innovation, and private sector development in the region.For more information, visit www.iibanks.com

For more information, visit www.iibanks.com