United Capital Group, a Pan-African investment management and financial services group has announced the official launch of its newest subsidiary, UCEE Microfinance Bank, at a ceremony held at the Bank House in Marina, Lagos.
The event was attended by the Chairman of Heirs Holdings Group, Tony O. Elumelu, alongside other industry leaders and dignitaries.
UCEE Microfinance Bank, located in the heart of Lagos Island, is a digital-first microfinance institution fully licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC).
Group CEO, United Capital Group, Mr. Peter Ashade speaking at the event said the bank is set to redefine financial inclusion by offering a blend of innovative technology and tailored financial solutions designed to meet the diverse needs of its customers.
He noted that UCEE is committed to the authentic practice of microfinance banking, aiming to serve the mass market through a combination of advanced technology and services that mirror a profound understanding of its customers’ needs.
Ashade said, “We identified a significant opportunity to replicate our successful investment management model into consumer lending.
“UCEE Microfinance Bank, now the seventh subsidiary in our group, is dedicated to offering essential financial products that empower individuals and businesses to reach their full potential.
“This initiative underscores our unwavering commitment to extending financial services to underserved segments and bolstering the economic development of SMEs.”
In his keynote address, Tony Elumelu lauded United Capital Group for its forward-thinking initiatives and impressive track record.
He praised the company’s role in advancing Africapitalism by promoting prosperity and economic transformation in Africa and expressed strong support for UCEE’s mission to serve Micro, Small, and Medium-sized Enterprises (MSMEs), reflecting his own passion for supporting growing businesses.
A highlight of the launch was the unveiling of the UCEE app, a platform designed to streamline access to the bank’s offerings.
The app integrates savings options, personal and business loans, bill payments, and lifestyle management services into a single, user-friendly interface.
Esther Adeola-Balogun was introduced as the inaugural Managing Director/CEO of UCEE Microfinance Bank, bringing 17 years of experience in the financial services sector.
At the press conference, she emphasized UCEE’s unique position in the market.
“UCEE is a proud microfinance bank with a robust digital orientation. Our commitment is to the genuine practice of microfinance banking, reaching the mass market through meticulously tailored financial solutions, leveraging technology.”