UBA Expands Global Footprint with Full Banking in France
In a milestone development for African banking, the United Bank for Africa (UBA) Group is set to commence full banking operations in France. The announcement was made during President Bola Ahmed Tinubu’s state visit to France, where UBA Chairman Tony Elumelu signed a landmark business cooperation agreement with French Finance Minister Antoine Armand, witnessed by President Tinubu and French President Emmanuel Macron.
Strengthening Ties Between Africa and Europe
The agreement underscores the French Government’s strong support for UBA’s expansion into France, marking a significant step in fostering financial collaboration between Africa and Europe. Speaking at the signing ceremony, Tony Elumelu expressed UBA’s commitment to enhancing global banking services.
“This partnership reinforces our commitment to seamless international banking services for our customers, not just across the 11 Francophone African countries we serve, but Africa as a whole, and French and European customers transacting with Africa,” Elumelu said. “Expanding into France is a natural progression, with Paris serving as our European Union hub. Paris will join London, New York, and Dubai as a critical component of our unique global network.”
UBA: A Leading Force in African Banking
With operations in 20 African countries and international offices in the United Kingdom, the United States, the United Arab Emirates, and now France, UBA has firmly established itself as a global financial powerhouse. Serving over 45 million customers and employing 25,000 people, the bank offers a range of retail, commercial, and institutional banking services.
This latest expansion will bolster UBA’s ability to serve its clients in Francophone Africa and Europe, furthering its mission of financial inclusion and innovation.
Significance of Paris as a Strategic Hub
UBA’s choice of Paris as its European hub is a strategic move, leveraging the city’s status as a global financial centre. With a strong presence in Francophone Africa, UBA aims to streamline transactions and foster closer economic ties between Africa and Europe.
A Growing Global Network
The move to France enhances UBA’s international reach, placing it alongside major financial centres like London, New York, and Dubai in its global operations. This development signifies not only UBA’s growth but also the increasing prominence of African banking on the global stage.
As UBA prepares to launch its operations in France, the financial world watches closely, as this expansion promises to redefine cross-border banking for African and European markets. FTC Targets Microsoft in Sweeping Antitrust Investigation
