UBA marks 75 years of growth with strategic focus on capital flows, trade and investment connectivity
Group Managing Director of UBA Africa, Oliver Alawuba, speaking at the Global Press Conference marking the 75th anniversary of United Bank for Africa (UBA), underscored the bank’s strategic focus on becoming the payment bank for capital flows, trade, and investment between Africa and the global market.
This, he noted, is exemplified by the bank’s commitment to providing $6bn in financing to SMEs under the African Continental Free Trade Area (AfCFTA) agreement. This initiative aims to bolster intra-African trade and enhance economic integration across the continent.
Mr Alawuba positioned the anniversary as more than a mere celebration, describing it as a testament to UBA’s enduring resilience, relentless innovation, and steadfast commitment to excellence over the decades.
“Our journey has been defined by our ability to adapt and thrive amidst changing market dynamics,” he remarked. The bank’s historical trajectory from a modest beginning in Lagos to a formidable global financial institution exemplifies its strategic vision and operational acumen.
In his address, Mr Alawuba emphasized UBA’s strategic intent to capitalize on opportunities within emerging markets, with innovation and digital transformation at the core of its growth strategy.
“Innovation and digital transformation are the key parts of the bank’s best strategy for future growth and competitiveness. UBA will continue to invest in innovative products, services, and digital platforms that enhance customer satisfaction and experience,” he quipped.
Speaking further, he articulated a clear and ambitious vision for UBA, which is aspiring to be a benchmark for African businesses. The bank’s motto, “United Bank for Africa: One Bank, United Africa, Connecting Africans to the World and the World to Africa,” encapsulates this aspiration.
Since its inception in 1949, UBA has expanded its footprint across 20 African countries and four global financial centers, including London, Paris, Dubai, and New York. The bank employs 25,000 staff members and serves 35 million customers, underscoring its significant scale and reach. Its operational infrastructure includes 1,000 business offices, 2,000 ATMs, 20 million cardholders, and 50,000 point-of-sale terminals.
UBA’s foray into Ghana in 2004 marked the establishment of its first subsidiary outside Nigeria. Today, UBA Ghana operates 31 branches, reinforcing the bank’s pioneering role in expanding its footprint beyond its home market. The Ghanaian subsidiary has become a vital component of UBA’s operations, exemplifying the bank’s commitment to regional growth and development.
As UBA looks to the future, its focus on leveraging digital innovation and fostering economic integration within Africa positions it as a central player in the continent’s financial sector, connecting African markets to the global economy and driving sustainable growth.
