With offices in the United States of America, the United Kingdom and France, the United Bank of Africa (UBA) is set to open an office in the Kingdom of Saudi Arabia in January 2025.
The Group Managing Director of UBA Group, Oliver Alawuba, disclosed this in Abuja, yesterday, during a valedictory party in honour of four retired non-executive directors of the bank.
Alawuba, who paid glowing tributes to the departed non-executive directors, also disclosed that the bank has grown its staff strength to over 25,000 staff while rendering services to more than 45 million customers across 24 countries.
He assured the customers of the bank that it remains steadfast in its mission to build a sustainable institution.
“Our chairman was in Saudi Arabia recently and announced that UBA will establish its presence there next year. We will also launch additional African subsidiaries, ensuring that the bank grows from strength to strength,” he added.
Alawuba attributed the success of the bank to the collective great spirit imbibed by the staff.
On his part, UBA Chairman, Tony Elumelu, lauded the retired directors and their families for their dedication and sacrifices.
“At UBA, we are more than just a bank; we are a family. These individuals have been selfless, ultra-dedicated and instrumental to the success we have achieved in Nigeria, Africa and globally. We owe a debt of gratitude to their families for the support they provided,” Elumelu said.
The UBA chief has also stressed the need for Africa to leverage emerging technologies to develop unique solutions to the challenges confronting the country.
Speaking at a graduation lecture for participants of executive intelligence management course 17 of the National Institute for Security Studies, he submitted that by leveraging emerging technologies, Nigeria can harness its talent, and create a vibrant ecosystem of startups that develop solutions tailored to its unique challenges as a nation.
“From fintech in Lagos to agritech in Nairobi, African entrepreneurs are at the forefront of innovation. This spirit of entrepreneurship is attracting global investors, who see Africa as a continent of boundless potential. By embracing these technologies and fostering strategic partnerships, we can drive inclusive growth, create sustainable development and unlock the immense potential of our continent,” he stated.
Elumelu insisted that partnerships must occur regionally, saying positive developments such as the African Continental Free Trade Area (AfCFTA) can benefit from digital tools to harmonise trade and boost inter-African commerce.
He added: “UBA’s AfriCash has made it seamless for people to remit funds and make small trade payments across borders in Africa. We must engage with global tech giants, venture capitalists, and academia to create an ecosystem where innovation thrives. These partnerships will not only drive technological advancement but also position Africa as a key player in the global digital economy.”
Speaking on behalf of the retired executives, Dr Kayode Fashola, recalled how he joined UBA and expressed appreciation to Elumelu for trusting him with critical positions despite initially being a stranger.
He said: “To work with Elumelu you must be committed, dedicated and you must have the skill. You must also be loyal. He is somebody who entrusts everything in the hands of someone who he doesn’t know. I was a stranger to him and he appointed me as the Chairman and General Purpose committee and I ran that office for four years and he never for one day interfered with what I did.”
