UBA announces strategic expansion into key markets across Africa
UBA Group has announce plans to expand its operations into key markets to reach the over 1.5 billion population in Africa.
This is a strategic opportunity for the bank to further expand its coverage across high potential markets across Africa, while also deepening its operations in its existing twenty African presence markets.
With over 51.7 per cent of the bank’s revenues from ex Nigerian operations, UBA’s journey to being Africa’s most diversified financial services group was clearly in evidence.
This was revealed at the UBA Group senior executives’ half year business review held at global headquarters in Lagos Nigeria.
Strategic intent
The Managing Director/Chief Executive Officer (CEO) of the UBA Group, Oliver Alawuba, said the international strategic intent reinforces with the Group’s intention to deliver innovative financial solutions to its fast-growing global customer base.
He said 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.
Vast opportunities
Mr Alawuba underlined the Group's expansion plans, disclosing that the Group was 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.
“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,” Mr Alawuba said.
Saudi operations
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.