Tag: UBA America

The Group Managing Director, United Bank for Africa (UBA) Group, Oliver Alawuba, says UBA America continues to serve as the settlement and payment bank for several African lenders on businesses within the United States and beyond.

He spoke during the bank’s partnership with Devex, a social enterprise and media platform for the global development community, to host flagship event on the sidelines of the World Bank-International Monetary Fund (IMF) Annual Meetings, in the United States.

Alawuba said UBA’s priority remains to get things done from the perspective of the customer in Africa, America and across all the markets where it operates, ensuring their expectations are met.

“We are proud to say that UBA is the only bank operating from Africa that is present in the America with the national banking licence, and fully regulated by the US government. And that is a very prime position for us to support payments and settlements of businesses originating out of Africa or between Africa and the rest of the world,” he stated.

According to Alawuba, UBA America is 40 years old operating in America. He disclosed that the bank has been serving as settlement bank for so many banks, stepping in to make it easy for banks out of Africa to have seamless transactions in America.

Read Also: UBA America Strengthens Commercial Diplomacy, Hosts Diplomats, Business Leaders at World Bank Summit in Washington

He said that UBA America understands the African businesses, and has operations in 24 African countries. He said the bank’s long network enables it to have access to foreign exchanges across several countries, and is optimising them efficiently.

Alawuba said that UBA is in Africa and rest of the world for a long term. He said: “UBA is not just about banking. UBA is about sharing, and as we do that, we push ourselves to change the lives of Africans, actually making sure customers are getting the best of banking services”.

He said that as a thriving global financial institution with operations across 20 African countries and four business nerve centres including US, UK, France and UAE, UBA focuses on empowering other business owners to build sustainable businesses.

Also speaking, Chief Executive Officer, UBA America, Sola Yomi-Ajayi, said UBA has been operating in the United States for the past 40 years.

She said: “We have been operating in the United States for 40 years. We secured our banking license here in 1984 and since then, we have actually been providing banking services to corporate institutions doing business in Africa, and in the United States”.

Yomi-Ajayi, also said that UBA America works with the total value chain of the development sector, enabling them towards achievement of the Sustainable Development Goals (SDGs).

He said the bank is enabling them to leverage its network providing solutions to their banking needs.

UBA America, the United States subsidiary of United Bank for Africa (UBA) Plc hosted diplomats, government officials and business leaders to a networking reception in partnership with the esteemed Business Council for International Understanding (BCIU) and the U.S. Department of States in Washington DC.

The event, which was held on the sidelines of the ongoing IMF World Bank Spring Meetings, was organised by the BCIU and US Department of State to enhance collaboration and fortify commercial diplomacy among nations, institutions and individuals.

Speaking at the event, UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, noted that the bank’s co-hosting of the event via its American subsidiary, underscores its commitment towards cultivating robust relationships within the development communities in the United States.

He said, “As a distinguished member of BCIU, a non-profit organisation providing customised commercial diplomacy services, UBA Group and UBA America share BCIU’s vision of actively pursuing strategic opportunities, contributing to global economic cooperation, deepening of economic diplomacy, facilitating ideas, forging partnerships, and adding value for all stakeholders.

Read Also: UBA America stimulates continental trades, investments

“Our resolve to co-host this Networking Reception symbolises our dedication to fostering inclusive economic growth and partnership across borders. By leveraging platforms like this, we can collectively address shared challenges and seize opportunities for sustainable development,” he stated further.

BCIU is a non-profit Association of policy experts, strategic advisors, and trade educators, and offers bespoke commercial diplomacy services to the world’s governments and leading organisations, from Fortune 100 companies to global investors and multilateral institutions.

Only last year, the CEO UBA America, Sola Yomi-Ajayi, was appointed to the Board of BCIU, where she collaborates with fellow board members to ensure the organisation operates in alignment with its by-laws and New York 501(c)3 non-profit legislation.