UBA Announces Strategic Expansion into Key African Markets
The Pan African financial services group, United Bank for Africa (UBA), has announced the group’s strategic expansion plan across key markets. In a statement, the company said its top senior executives recently concluded the group’s half-year business review at global headquarters in Lagos, Nigeria.
Oliver Alawuba, Group Managing Director and Chief Executive Officer, brought together executives responsible for UBA’s twenty-four countries of operation to Lagos for a review session, according to an official statement.
“It was an opportunity to restate the Group’s pan-African strategy and commitment to further expanding the Group’s coverage across high potential markets across Africa, while also deepening its operations in its existing twenty African presence markets”.
With over 51.7% of Group revenues from ex Nigerian operations, UBA’s journey to being Africa’s most diversified financial services group was clearly in evidence,
The international strategic intent reinforces with the Group’s intention to deliver innovative financial solutions to its fast-growing global customer base.
The strategy demonstrates UBA’s unique position as Africa’s global bank and ability to leverage growth opportunities in emerging and leading African markets.
The Group commenced its Pan African journey, with its entry into Ghana in 2004, followed by rapid expansion into 18 additional African markets. Today, as a resilient and future-focused institution, UBA continues to push boundaries by connecting Africa to the world and the world to Africa.
Mr Alawuba highlighted the Group’s expansion plans, disclosing that the group is excited about the vast opportunities that the new markets present, a testament to UBA Group’s confidence in the African economy, providing world-class banking services that meet the continent’s evolving needs.
“UBA’s vision is clear – we are building a truly global institution anchored in Africa but serving customers across continents. Further strategic expansion positions us to unlock new opportunities, support intra-Africa trade, and deliver world-class banking experiences wherever our clients choose to do business,” Alawuba said.
“In Europe, UBA has operations in the United Kingdom and upgrading its license in France, expanding its capacity to serve cross-border trade, investment flows, and the African diaspora, complementing our over 40-year presence in NY.
These moves signal a clear message of UBA’s intent to reshape the competitive landscape”, Alawuba further said. As part of the Group’s plan to expand its global presence, UBA, in January, announced plans to open operations in Saudi Arabia.
Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial, and institutional banking services, leading financial inclusion and implementing cutting edge technology.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees ‘group-wide and serving over 45 million customers globally. Foreign Investors Rotate Out of Nigerian Eurobond as Sentiment Shifts
