UBA Unveils Strategic Expansion Into Key African Markets
Senior executives of the United Bank for Africa Group recently concluded its half year business review at its global headquarters in Lagos Nigeria, where the Group Managing Director/CEO, Oliver Alawuba, was joined by executives responsible for its 24 countries of operation.
The gathering was an opportunity to restate the group’s pan-African strategy, and commitment to further expanding its coverage across high potential markets across the continent, while also deepening its operations in its existing twenty African markets.
Already, over 51.7% of the group’s revenues is derived from outside of its Nigerian operations in line with the vision of being Africa’s most diversified financial services group.
The international strategic intent, the group noted on Thursday in a statement, reinforces with its intention to deliver innovative financial solutions to its fast-growing global customer base. The strategy, it believes, demonstrates UBA’s unique position as Africa’s global bank and ability to leverage growth opportunities in emerging and leading African markets.
Recall the Group set out on its Pan African journey by the 2004 hoisting of its maiden flag in Ghana, 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.
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,” he 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,” the GMD 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.
