The United Bank for Africa (UBA) is celebrating 75 years in business with a sweeping vision to become a truly global bank. During a gala event held in Abuja on Saturday, the banking group announced its ambition to expand into more than 100 countries and reach over one billion customers within the next 75 years.
UBA’s Group Managing Director and CEO, Dr Oliver Alawuba, laid out the bank’s forward-looking goals, describing them as centred on “opportunity, inclusion, and transformation.” He traced the bank’s journey from its roots in 1949, when it began as the British and French Bank on Kakawa Street in Lagos, to its current presence in 20 African nations and key global financial hubs — New York, London, Paris, and Dubai.
The bank currently serves more than 45 million customers. With its recent financial performance showing strong momentum — including a 53.6% rise in gross earnings to N3.19 trillion, a 46.8% boost in total assets to N30.32 trillion, and shareholder funds increasing by 68.39% to N3.42 trillion — UBA seems poised to take on the next chapter with confidence.
An Empire in the Making?
Looking ahead, Alawuba declared, “In the next 75 years, we envision a UBA with a presence in every African country and expansion to over 100 countries worldwide.” He emphasised the bank’s commitment to technological innovation and trusted relationships to meet the needs of individuals, businesses, and governments alike. The message was clear: UBA is not only aiming to participate in Africa’s economic transformation but also lead it.
UBA Group Chairman Tony Elumelu also addressed the gathering, thanking customers, shareholders, and staff for their unwavering support. “This is a night of celebration, gratitude to God and to customers and shareholders who have made it possible,” he said. He credited past generations for laying the foundation that supports the bank’s current standing and linked UBA’s future to Nigeria’s reform drive under President Bola Tinubu.
Elumelu also expressed optimism about the bank’s ability to complete its Africa-wide coverage in less than a decade, stating that with presence already in 20 countries, achieving full continental coverage within 7.5 years was realistic.
Pacesetter in African Banking
Nigeria’s Vice President Kashim Shettima served as the Special Guest of Honour and applauded UBA’s enduring relevance. He praised the institution for its innovation and resilience, noting that “75 years is not something you pick up at a supermarket. It is earned — through risks and calculations, through storms and sunshine.”
He lauded the bank’s adaptability across generations and described Elumelu as “a dream-maker” who has redefined leadership on the continent. “UBA has remained a pacesetter because it is led by people who do not just manage capital but manage curiosity,” he said.
As the evening unfolded with speeches, tributes, and celebrations, UBA’s next chapter was firmly cast — one that stretches far beyond African borders, aiming to make a global mark.
- CBN Launches Research Workshops to Shape Nigeria’s Future
- CBN Approves Open Banking, Launch Set for August 2025
- GTCO to List Shares on London Stock Exchange
- Afreximbank Picks Elombi as Next President
- GTBank Schedules Early Closure for Auditing Today
- CBN Says Nigeria’s Payment Tech Is World-Class
I am passionate about crafting stories, vibing to good music (and making some too), debating Nigeria’s political future like it’s the World Cup, and finding the perfect quiet spot to work and unwind.
No Comments