Group Managing Director of UBA Bank, Oliver Alawuba, has disclosed that the bank has entered into a strategic $6 Billion Dollar SME Funding agreement with the African Free Trade Area (AfCFTA) based in Accra.
AfCFTA is a trade agreement among African Union (AU) member states aimed at creating a single continental market for goods and services, with free movement of business persons and investments.
It is the largest free trade area in the world by number of participating countries, encompassing 54 of the 55 AU nations.
The AfCFTA represents a significant step towards economic integration in Africa, with the potential to transform the continent’s economy by fostering closer cooperation among African nations.
This strategic collaboration and partnerships, Oliver Alawuba stated, affirms expansion of the bank’s presence, seizing growth opportunities, and delivering value to all stakeholders.
This was when he addressed the bank’s Global Press Conference to launch its 75th Anniversary celebrations on Monday 20th May in Lagos, Nigeria.
He said UBA is one bank, uniting Africa while connecting Africans to the World and the World to Africa.
“We are dedicated to deepening relationships with customers, employees, regulators, and other stakeholders for mutual benefit and long-term success.
Our primary focus is to be the payment bank for Capital flows, trade and investments between Africa and the rest of the world. Looking ahead, our vision is clear – to be the role model for African Businesses,” he noted.
Touching on the current economic challenges, he said amidst economic challenges and market dynamics, UBA has demonstrated remarkable financial strength and resilience.
“Our splendid performance, especially within the last year, is a testament to our robust fundamentals and sound strategic decisions.
As we navigate through the ever-changing landscape, we remain committed to creating value for our shareholders and capitalizing on emerging opportunities in the market.
Our commitment to Corporate Social Responsibility is strong, with initiatives focused on education, healthcare, entrepreneurship, and environmental sustainability; thus, making a concrete impact on communities across Africa.”
On digitalization, he reiterated that innovation and digital transformation are at the heart of UBA’s strategy for future growth and competitiveness.
“We will continue to invest in innovative products, services, and digital platforms that enhance customer experience and drive operational efficiency.
I would like to further reiterate UBA’s commitment to Customer First Philosophy, which is our primary business strategy. The customer is our employer and the sole reason why we come to work.
Our three (3) key pillars of service (People, Process and Technology) are all geared towards the delivery of excellent customer experience, which is our promise.
As we embark on the next phase of our journey, I urge all stakeholders to continue their support and collaboration. Together, we will write the next chapter of success for United Bank for Africa Plc.”
About UBA
United Bank for Africa (UBA) is Africa’s Global bank with a rich history spanning over seven decades.
The bank which is headquartered in Lagos, Nigeria, is one of the most recognised financial institutions to originate from Sub-Saharan Africa with thriving operations in 20 African countries – Republique du Benin, Burkina Faso, Cameroun, Congo Brazzaville, Congo DRC, Cote d’lvoire, Gabon, Ghana, Guinea, Kenya, Liberia, Mali, Mozambique, Nigeria, Senegal, Sierra Leone, Tanzania, Tchad, Uganda and Zambia.
UBA also operates in the United Kingdom and France and we are the only sub Saharan African bank with a deposit taking license in the USA.
It officially opened for business in Dubai, the United Arab Emirates in 2022.
UBA provides corporate, commercial, SME, consumer and personal (retail) banking services to more than 25 million customers, served through diverse channels: over 1,000 business offices and customer touch points with 2,669 ATMs, 87,223 PoS, and robust online banking services.
Additionally, UBA offers pension custody and related services. The bank has proven expertise and capacity in key sectors of economies across Africa, especially in Oil and Gas, Infrastructure Finance, Agric, and Commodity/Export, and this positions us as a preferred partner for structured solutions to key governments and corporates operating in/into Africa.
