Tag: United Bank for Africa

Group Managing Director/CEO, United Bank for Africa (UBA), Oliver Alawuba, has reinforced the bank’s commitment to deepening and facilitating Republic of Benin’s economic growth, through dedicated support for its transformative infrastructure and development projects.

 Alawuba made this disclosure during a high-level strategic working visit to the country on the 28th of January 2026.

The one-day engagement, which focused on strengthening ties with the government, key corporate clients, and the bank’s internal team, underscored UBA’s integrated approach to fostering economic growth.

Alawuba, who spoke during the courtesy meeting with the Senior Minister of Finance, Economy, and Cooperation of Benin, Romuald Wadagni, highlighted the bank’s ongoing as well as future support for the Government of Benin’s transformative infrastructure and development projects.

 “Our presence in Benin is that of a committed stakeholder, and we see our role as a catalyst that will continue to collaborate in turning the vision of Benin’s strategic development plans into a tangible, bankable reality,” he said.

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He further expressed the bank’s appreciation for the government’s partnership, specifically acknowledging the land allocated to UBA Benin as compensation for its former main branch, which was acquired for public utility.

 “The government’s gesture is a powerful symbol of trust and mutual respect, and it signals a partnership that we look forward to, and most importantly, we are eager to build a new landmark on that foundation, and one that will facilitate even greater service to the Beninese people,” he added.

Alawuba was joined by the CEO, UBA Africa, Sarata Koné Thiam, while Minister Wadagni was accompanied by the Director of the Debt Department, Hugues Oscar Lokossou.

Moving beyond government dialogue, Alawuba’s itinerary included strategic corporate visits to reinforce client relationships, where he held meetings with top-tier clients, including Fludor and AKRAKE, to discuss evolving banking needs and explore collaborative opportunities

While addressing them, Alawuba expressed gratitude for their support and positioned UBA as a crucial partner for industrial growth.

 “We are equally grateful for the steadfast trust you place in UBA as your financial partner, and this trust is not something we take for granted; it is the foundation upon which we build deeper, more supportive collaborations”

 “To this end, I want to personally assure you that all your requests and concerns will continue to receive our immediate and focused attention. My directive to the team is clear: we will expedite every necessary action to structure a solution that effectively hedges your risk and supports the fluidity of your operations. UBA is here to facilitate your business momentum,” he emphasized.

Alawuba’s visit culminated in a Town Hall meeting with UBA Benin staff at the Novotel Hotel, where the achievements of the staff were celebrated, and morale was boosted.

United Bank for Africa (UBA) Plc has reiterated its commitment towards supporting the growth of Small and Medium Scale businesses for global impact, as it headlines the sponsorship of the Lagos International Trade Fair (LITF) for the seventh consecutive year.

Organised by the Lagos Chamber of Commerce and Industry (LCCI), this year’s trade fair, which was flagged off on Friday November 7, at the Tafawa Balewa Square, Onikan, Lagos would be open to all till November 17, 2025, and is expected to attract thousands of exhibitors, investors, and visitors from across Nigeria and the globe.

In line with its customer-first philosophy, UBA will host a rewarding experience for its customers with a dedicated, full-service branch within the trade-fairground.

Account holders who perform any transaction, such as deposits, withdrawals, or transfers, etc, at this branch will be instantly eligible to participate in a special “Lucky Dip” draw, which will offer them the chance to win a variety of premium prizes.

Speaking during the opening ceremony of the fair, UBA’s Head, SME Banking, Babatunde Ajayi, underscored the strategic importance of the longstanding partnership with LCCI while reaffirming that this collaboration is a critical component of the bank’s core mission to mobilise capital as  well as empower enterprises of all scales, with a focus on growing SMEs for global impact.

“Our consistent support for the LITF and our strategic, bank-wide initiatives around the AfCFTA are interconnected,” Ajayi stated. “They are two sides of the same coin, and it reflects a deep-seated commitment to building the robust financial architecture that is required to empower African businesses and enable them to trade seamlessly across borders.”

UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, positioned the bank’s participation within the context of its vision for Africa’s economic transformation, as detailed in its recently published white paper on achieving a $4 trillion continental economy.

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“The LITF represents one of several strategic platforms through which UBA is actively translating the ambitious goals of our whitepaper into tangible action,” Ladipo said. “Our comprehensive roadmap to a $4 trillion African economy is being built through practical, on-ground engagements such as this, which is focused on growing SMEs for global impact. These are platforms that directly connect businesses, facilitate commerce, and unequivocally demonstrate our resolve to turn a bold vision into a tangible reality for millions.”

Ladipo noted that deep partnerships, which are complemented by continuous digital innovations and cross-border trade solutions, will lay the groundwork for sustainable, inclusive economic growth that will benefit corporations, SMEs, and individual entrepreneurs across Africa.

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. 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 (UBA) Plc has demonstrated its commitment towards driving sustainable growth and economic transformation across Africa with the official launch of its White Paper in Washington DC.

The White Paper: Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth aims to unlock an estimated $4 trillion in Africa’s domestic financial assets.

This includes $2.5 trillion in commercial bank assets and over $1.1 trillion in long-term institutional capital, while capitalising on the $3.4 trillion potential of the African Continental Free Trade Area (AfCFTA) single market.

The document also focuses on ensuring the integration of domestic capital with strategic global alliances.

The report which was unveiled on the side-lines of the ongoing International Monetary Fund (IMF) and World Bank Annual Meetings in Washington DC, provides a comprehensive roadmap for accelerating Africa’s progress through innovative financial solutions, policy reforms, and strategic partnerships; elevating Africa’s economic priorities to the forefront of international financial conversations.

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It delivers a detailed, actionable blueprint designed to harness Africa’s enormous economic opportunities while examining essential growth areas including trade facilitation, infrastructure development, digital innovation, climate finance, and inclusive growth.

For Africa, this whitepaper signifies a pivotal advancement in financial infrastructure and economic empowerment. It addresses longstanding challenges such as limited access to capital and underdeveloped partnerships, proposing solutions that could accelerate sustainable development across the continent.

UBA’s Group Chairman, Tony Elumelu, who delivered a bold vision for the continent’s future at the launch said, “Africa stands at a transformational crossroads, rich in resilience, creativity, and untapped potential. With this whitepaper, UBA champions Africapitalism, empowering our private sector to drive sustainable growth that delivers prosperity and social wealth.”

Elumelu who is also the founder of Heirs Holding Group and the champion of the Africapitalism concept added, that by focusing on inclusive growth and digital innovation, the report promises to enhance financial inclusion for millions, bolster infrastructure projects, and drive climate-resilient initiatives, ultimately fostering job creation, poverty reduction, and regional integration under AfCFTA.

In the global finance space, the unveiling also underscores Africa’s rising prominence as a key player in the world economy where international investors, institutions, and policymakers are invited to engage more deeply with African markets, highlighting mutually beneficial opportunities for capital flows and collaborations.

This, he noted, will help towards reshaping global investment strategies, encouraging a shift toward emerging markets and promoting diversified portfolios that include African assets, thereby contributing to more balanced global economic growth.

 Elumelu explained that with this whitepaper, UBA champions Africapitalism, empowering our private sector to drive sustainable growth that delivers prosperity and social wealth, adding that “To investors across Africa and the globe: join us in mobilizing our $4 trillion domestic capital alongside strategic partnerships to bridge opportunities, de-risk investments, and build a self-determined future. The era of action is upon us, let us seize it together for Africa’s economic sovereignty.”

UBA’s Group Managing Director and Chief Executive Officer, Oliver Alawuba, who spoke further on the whitepaper, pointed out that it redefines development finance, moving from aid dependency to investment highways powered by African innovation.

“UBA, with our deep local knowledge and global reach, is uniquely positioned to unlock capital flows and foster collaborations that transform challenges into opportunities. We call on financial leaders worldwide: partner with us to deploy agile solutions, from digital platforms to blended finance, and co-create resilient growth that benefits millions. Africa’s time is now, commit today to be part of this revolutionary journey,” he stated.

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. 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 technology.

United Bank for Africa (UBA) Plc has recorded N335 billion Profit After Tax (PAT) in its financial results for the half-year ended June 30, 2025.

The bank’s performance also shows N1.608 trillion gross earnings, representing 17.28 per cent from N1.371 trillion achieved in same period of last year.

Other performance indicators showed remarkable growth across its major business segments, driven by strong earnings.

The audited financials released to the Nigerian Exchange Limited (NGX) on Thursday, showed that the bank recorded significant growth in its gross earnings and profit after tax, signaling robust balance sheet expansion.

At the end of the first two quarters of the year, and despite the tough global macroeconomic climate in Nigeria and major countries in Africa where the bank operates.

Interest income also increased by 32.89 per cent from N1.003 trillion in June last year to N1.334 trillion, while total assets went up by 9.71 per cent to N33.3 trillion up from N30.3 trillion recorded in December 2024. Total Customer deposits, also leapt by 11.9 per cent in the same period to close at N27.6 trillion up from N24.6 trillion recorded at the end of 2024.

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The results filed also showed that profit after tax which stood at N316.36 billion in June 2024, rose by 6.06 per cent to close the half year at N335.53 billion, while profit before tax dropped slightly from N401 billion to N388 billion in the period under consideration. However, the banks’ shareholders’ funds remained strong as it increased by 23 per cent from N3.41 trillion in December 2024, to N4.22 trillion in June 2025.

UBA’s Group Managing Director/Chief Executive Officer, Mr. Oliver Alawuba, while commenting on the results underscored the bank’s commitment to consistently delivering long-term value to its shareholders.

He said, “UBA’s first half results highlight the strength of our business and the trust our customers continue to place in us. We delivered strong double-digit earnings growth across our markets, with Profit After Tax rising year-on-year to N335 billion, from N316 billion, underscoring the resilience of our business and the success of our strategy.”

Giving further update on the bank’s ongoing Rights Issuance Programme, the GMD assured shareholders and investors that UBA remains on track with its financial goals and projections for 2025.

“We have made significant progress on our capital raising program. Phase I of our Rights Issue was successfully completed, enhancing our capital by N234.3 billion and providing a stronger buffer for growth and expansion across our markets. With Phase II currently underway, we remain firmly on track to meet the new capital requirements by the end of the year,” Alawuba stated.

UBA’s Executive Director Finance & Risk Management, Ugo Nwaghodoh, pointed out that the Group delivered strong top line growth, with gross earnings rising to N1.61 trillion, driven by a 32.9 per cent increase in interest income and a 14.6 per cent uplift in net interest Income.

“Deposits expanded by 11.9 per cent to over N27.5 trillion, supporting balance sheet growth to N33.3 trillion, while shareholders’ funds rose 23.3 per cent to N4.22 trillion. Capital adequacy and liquidity ratios remain well above regulatory thresholds and provide significant buffers to support continued growth”, he explained.

On the plans for the rest of the year, Nwaghodoh said, “Our priority is to pursue growth and expansion scale and market share across markets, driving efficiency gains, scaling digital-led income streams and maintaining disciplined risk management.”

United Bank for Africa (UBA) Plc took leadership position in strategic areas captured in the KPMG 2024 West Africa Banking Industry Customer Experience Survey released yesterday.

The bank cemented its position as a leading customer-centric institution, emerging among the top five banks, in various survey’s segmentation.

The survey showed that UBA earned an impressive second place in SME Banking as well as a third place in Retail Banking, marking a significant leap in rankings that highlights its transformation under its Customer First (C1st) philosophy.

The survey results showcase UBA’s remarkable transformation in customer experience over the past year. For instance, in retail banking, the bank rose to third place up from 14th place recorded in 2023, while in SME Banking, it jumped to second position up from sixth place last year.

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The bank also made notable progress in corporate banking, climbing to fourth place from 8th in 2023. These milestones underscore its ability to consistently exceed customer expectations and deliver unmatched service across all its business segments.

Speaking on the achievement, UBA’s Group Managing Director/CEO, Oliver Alawuba, said: “This recognition is a testament to our ability to turn aspirations into achievements and challenges into victories. At the heart of this success lies our unwavering commitment to the Customer First (C1st) philosophy. It is not just a slogan but the essence of who we are. Through C1st, we’ve redefined customer satisfaction, delivered value, and earned the trust and loyalty of our clients.”

Alawuba who credited UBA’s success to the dedication of its employees, said, “From retail branches to corporate offices, from technology teams to front-line staff, every effort contributed to this extraordinary transformation. I extend my heartfelt gratitude to our exceptional team for making this possible.”

According to the GMD, UBA has for several years, placed its customers at the centre of its operations, guided by its six pillars of Customer Experience: including Integrity- Building trust through honesty;  Resolution- Promptly addressing customer concerns; Expectations-Anticipating and exceeding customer needs; Time and Effort- Simplifying processes to save time; Empathy- Demonstrating genuine care and understanding as well as Personalisation- Delivering tailored solutions.

He added that these principles have reshaped how the bank connects with its customers, fostering trust and deepening loyalty across its diverse markets.

While celebrating this milestone, the Alawuba disclosed that UBA remains committed to becoming the undisputed number one across all segments, adding that the bank aims to achieve this through deepened customer relationships, strengthened processes, and continuous innovation.

“The world of banking is evolving rapidly, and customer expectations are at an all-time high. To lead in this dynamic landscape, we must stay agile, innovative, and unwavering in our commitment to excellent service. Together, we will set new benchmarks and deliver unparalleled value to our customers,” he stated.

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. 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 (UBA) will be expanding its investments and operations in Africa.

The bank also plans to expand in Middle East with ongoing plan to open a subsidiary in Saudi Arabia, its largest economy.

This move which is expected to happen within the next year will mark the bank’s second subsidiary in the Gulf Region, following the expansion of its business to the United Arab Emirates in 2022.

UBA’s Group Deputy Managing Director, Muyiwa Akinyemi, who disclosed this during a panel session during the 8th Edition of the Future Investment Initiative (FII) in Riyadh, Saudi Arabia and in an interview with Arise TV, underscored the bank’s strategic commitment towards fostering Africa’s growth through infrastructure development, youth empowerment, and sustainable partnerships across key global markets.

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 He said, “Opening a presence in Saudi Arabia represents the next step for us in connecting the Africa-Gulf region.

 We are excited to bring UBA’s expertise in financial services to Saudi Arabia, where we aim to facilitate knowledge transfer and create strong economic linkages. This venture will further enable us to access Saudi expertise in food security, energy transition, and sustainable practices, which are all critical for Africa’s continued development.”

While emphasising the importance of Africa as a strategic investment destination for long-term capital, he said, “Africa’s infrastructure deficit is an opportunity for investors worldwide. Our pitch to the Gulf and Southeast Asia emphasizes that Africa must be part of their investment horizon. Today, food security is paramount as our population expands.

Akinyemi also highlighted the bank’s dedication to nurturing Africa’s youth talent through entrepreneurship. “Guided by our Group Chairman’s efforts with the Tony Elumelu Foundation, UBA is committed to supporting young entrepreneurs in tech, agriculture, and entertainment, which are all burgeoning sectors in Africa. With such a young and dynamic population, we see enormous potential for innovation and growth.”

He also reiterated the bank’s continuous support for Small and Medium Enterprises (SMEs) in Africa and beyond as he outlined the bank’s commitment to these businesses, which he referred to as key players in the African economy and vehicles for employment and economic growth.

“SMEs are the backbone of economic development in Africa. They contribute significantly to job creation and value chains, particularly within Nigeria. Over the last year, UBA has committed billions to support SMEs across Africa, and our network of over 20 countries enables us to make a substantial impact.”

During the panel discussions, Akinyemi took time to emphasize UBA’s longstanding experience on the continent as it navigates an ever-evolving investment landscape, adding that “As investors, we focus on infrastructure and sustainable projects that encourage economic prosperity while addressing pressing issues such as talent migration. Our goal is to ensure that people can thrive in Africa without needing to relocate. By investing in local talent and fostering growth sectors, we contribute to building the next generation of global innovators right here in Africa.”

The DMD further articulated UBA’s approach to risk management on the continent, emphasizing that the bank’s 75-year history has uniquely equipped it with insights and strategies to navigate diverse markets.

“With over seven decades of experience, Africa is what we know, and that knowledge allows us to manage risks effectively. We see tremendous opportunities in various sectors across the continent, and our continued investments are driven by a commitment to bring economic empowerment to communities, increase GDP, and improve socioeconomic quality. Our anniversary is a celebration of UBA’s legacy of contributing to Africa’s progress. We look forward to leveraging this milestone to drive even greater impact across sectors and empower future generations,” he said.

• Shareholders’ funds hit N2tr

The United Bank for Africa (UBA) Plc has grown its deposit base to N18 trillion and  shareholders’ funds to N2 trillion, its Group Managing Director/CEO, Oliver Alawuba announced yesterday.

Speaking during a world press conference organised by the bank in Lagos to mark its 75 years of banking excellence, he said the bank has in the course of the years, demonstrated resilience, stability and excellence in serving its over 45 million customer base.

He said UBA strategy has been to support the key sectors driving the economies of countries where it has operation and has shown commitment in funding infrastructure, telecoms, agriculture, building roads, expanding sea ports, among others.

“In some countries, we have built their capacity for improved revenue generation, to ensure that government generates enough fund to run the economy. Our support for the African economies goes to the critical sectors, depending on the sectors that drive such economies. We are supporting mining, cotton production, cashew among others. We are committed to developing Africa and key sectors within the continent,” Alawuba stated.

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 He reiterated that the work done supporting African businesses is reflecting in the banks’ results and overall performances.

“Today, our deposit base is N18 trillion, while the shareholders’ funding is N2 trillion. We have 45 million customer base across Africa and this is growing on daily basis. We do not just support the businesses, but also the businesses within the value chain, including SMEs funding,” he stated.

The bank chief said the bank has been holding stakeholders’ meetings on the ongoing recapitalisation of the banking sector and will soon seek shareholders  shareholders’ approval this Friday for its N500 billion recapitalisation.

He said the bank fully supports the Central Bank of Nigeria’s (CBN) efforts to strengthen the banking sector and achieving government’s plan to grow $1 trillion economy.

He highlighted its importance in making the banking sector more robust and capable of significantly contributing to economic growth.

In addition, Alawuba reiterated UBA’s commitment to a $6 billion SME funding agreement with the African Free Trade Area (AfCFTA). This funding, sourced from deposits and Development Finance Institutions (DFIs), aims to increase the financial capacity of businesses across Africa, particularly in the 20 countries where UBA operates.

“Our vision is clear: to be the role model for African businesses and connect Africa to the world and the world to Africa,” he said. The fund will help businesses grow and enhance their capacity as foreign exchange generators for their countries.

He said UBA will continue to focus on expanding its international operations and supporting Small and Medium Enterprises (SMEs) across the countries it operates in.

“Today, we have over 25,000 staff and serve over 45 million customers through multiple channels – over 350,000 POS terminals, 2,000 ATM terminals, 1,000 business offices, and 19.7 million card customers,” Alawuba noted, emphasizing the bank’s extensive reach and capacity.

Speaking on the 75-year anniversary, Alawuba reflected on UBA’s resilience and financial strength amidst economic challenges.

He attributed the bank’s recent performance to robust fundamentals and strategic decisions. UBA remains committed to innovation, digital transformation, and Corporate Social Responsibility (CSR), with initiatives focused on education, healthcare, entrepreneurship, and environmental sustainability.

“Our primary focus is to be the payment bank for capital flows, trade, and investments between Africa and the rest of the world. We are committed to expanding our presence, seizing growth opportunities, and delivering value to all stakeholders,” Alawuba stated.

Also speaking,  Deputy Group Managing Director, UBA, Muyiwa Akinyemi stated that over the past 75 years, bank has shown stability, reliability, and excellence in banking, achieving key milestones and positively impacting the communities of operation.

According to him, UBA’s financial strength and resilience has been key to its success, even amidst economic challenges.

He said, “Our robust performance, especially in the past year, underscores our sound strategies and operational excellence. I am sure everyone in this room will agree with me that UBA remains an attractive investment opportunity – especially going by the significant interest and activities in our share prices in the last couple of months. We are confidently navigating the ongoing recapitalisation drive set by the Central Bank of Nigeria, and will achieve and surpass this in no time.

“At UBA, Innovation and digital transformation are at the heart of our future growth. We are committed to offering cutting-edge products and services that enhance customer experience, solidifying our position as a forward-thinking institution.”

Akinyemi added that UBA’s intentional commitment to corporate social responsibility has made significant impact across Africa through initiatives in education, healthcare, and environmental sustainability. He added that the bank will continue to impact positively on the communities where it has presence. 

Executive Director, Finance & Risk, Ugo Nwaghodoh, said that UBA operates with international banking license, and will sustain the license. He said the bank has already set in motion processes to achieve the set capital base well ahead of the deadline.

He said that recapitalisation would enhance the liquidity of Nigerian banks, enabling them to compete globally and support intra-African trade.

Assuring stakeholders of UBA’s readiness to meet the recapitalisation requirements, he said the bank can only go for acquisitions where such option would add substantial value.

On his part, Executive Director, Group Chief Operating Officer, UBA, Alex Alozie, said that having 45 million customer base, also requires enhanced technology and technology that can prevent fraud.

He said the bank has empowered the customers on self-services adding that over 20 of the bank’s services are on self-service.

According to Alozie, the bank’s customers are constantly educated on how to protect their accounts, to prevent them from losing funds. This, he stated, makes UBA a safe haven for customers’ funds.