The new UBA franchise, UBA UK, has been formally inaugurated in the United Kingdom at a high-level gathering of business and public sector leaders in London on Thursday.
This latest development came three weeks after the UBA Group began its operations in Mali.
At the upscale ceremony which held at Shard in the city of London, UBA UK was formally introduced to business leaders across Europe and Africa with a commitment from the UBA Group of its readiness to galvanise trade and commerce between Europe and Africa.
The inauguration was a sequel to the authorisation of the Prudential Regulation Authority and the Financial Conduct Authority for UBA UK Limited to carry out full-scale wholesale banking across the UK.
With the inauguration, UBA Group further consolidates its unique positioning as the first and only sub-Saharan African financial institution with banking operations in both the UK and the United States, thus reinforcing its strong franchise as Africa’s global bank, facilitating trade and capital flows between Africa and the world.
Speaking at the event, the Group Chairman, Mr Tony Elumelu, stated that the Group was excited by the authorisation of the relevant regulatory authorities in the United Kingdom for UBA to upgrade its operation and further fulfil its aspiration of deepening trade and investments flows between Africa and Europe.
“The enhancement of our business in the United Kingdom is very timely and mutually beneficial for African and European corporate, as well as respective governments.
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With the British and other European governments seeking new and improved measures to grow trade relations with Africa, we are enthusiastic on our positioning and capabilities in supporting corporate and government institutions to fulfil these lofty aspirations, which we believe are pertinent for the sustainable growth of both continents.”
We welcome our existing and new customers to this new world of borderless opportunities, as we creatively serve our customers in meeting their international transaction needs.”
Some of the guests in attendance at the event were the President of Dangote Group, Alhaji Aliko Dangote; President, Afreximbank, Dr Benedict Oramah; a former Prime Minister of Pakistan, H.E Shaukat Aziz; member of the British House of Lords and Executive Committee Member of the All Party Africa Group, Rt Hon Lord Anthony Tudor St. John, among many others.
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