UBA’s expansion plans will support intra-African trade, says Oliver Alawuba

Oliver Alawuba, the group managing director (GMD) of the United Bank for Africa (UBA), says the bank’s expansion aims to support intra-African trade.

According to a statement on Thursday, Alawuba spoke during the bank’s half-year business review held at UBA’s headquarters in Lagos, where he met with senior executives overseeing the bank’s operations across 24 countries.

Alawuba was said to have highlighted the group’s expansion plans, expressing enthusiasm about the significant opportunities in new markets.

He said the opportunities reflect the bank’s strong confidence in the African economy and its commitment to delivering world-class banking solutions 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,” the managing director said.

“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.”

The financial institution said the meeting provided an opportunity to reaffirm UBA’s pan-African growth strategy and its commitment to expanding into high-potential African markets, while deepening its presence in its existing 20 African subsidiaries.

“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 statement further reads.

“The international strategic intent reinforces 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.”

The statement added that UBA, in January, announced plans to open operations in Saudi Arabia as part of its plan to expand its global presence.