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UBA Group started full banking operations in UK.

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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.

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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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24 Hours Across Africa

Hong kong train accident leaves eight injured.

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A rare train derailment disrupted services in Hong Kong on Tuesday, the rail operator said, threatening commuter chaos during rush hour.

The disruption to a usually seamless network used by nearly 6 million people every weekday happened after a train derailed while leaving a station in the Kowloon area, rail operator MTR Corp said.

The government’s information department said eight people were injured and five had been taken to hospital.

Rex Auyeung Pak-kuen, chairman of MTR Corp, told reporters that a derailment had not happened in many years and the cause was not immediately clear.

“We will work together with the government to find out the truth as soon as possible so as to continue to provide safe services,” he said. “We apologize that our passengers were injured in the accident.”

Hong Kong’s rail system has been a target of vandalism during recent pro-democracy protests, with activists angry that MTR has closed stations to stop protesters gathering.

Television footage showed hundreds of passengers trying to get off the derailed train. Public broadcaster RTHK said the train had suddenly swayed and a door had flown off before the train stopped.

Nearby stations were overcrowded, and intervals between trains were extended to 12 minutes from two.

MTR’s shares fell 1.1% in line with the broader Hang Seng Index, which was down 1%.

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24 Hours Across Africa

Rwanda ban Burundi,s music star ahead of annual festival

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Burundian musician Jean Pierre Nimbona, popularly known as Kidum, has told the BBC he is confused by Rwanda’s decision to ban him from playing at the upcoming Kigali Jazz Fusion festival.

Kidum is one of Burundi’s biggest music stars and has performed in Rwanda for the past 16 years.

But a police official phoned the musician’s manager to warn that he would only be allowed to make private visits to Rwanda.

“[My manager was told] Kidum is not supposed to perform, tell him to leave. If he comes for private visits fine, but no performances,” the musician told BBC’s Focus on Africa radio programme.

The mayor of Rwanda’s capital said that in this instance permission had not been sought from the authorities for him to perform at the festival in Kigali.

Kidum was a leading peace activist during Burundi’s civil war between 1993 and 2003 and used his songs to call for reconciliation.

The 44-year-old musician said he had never had problems with Rwandan authorities until recently when three of his shows were cancelled at the last minute – including one in December 2018.

That month Burundi had banned Meddy, a musician who is half-Burundian, half-Rwandan, from performing in the main city of Bujumbura.

Kidum said he was unsure if the diplomatic tensions between Burundi and Rwanda had influenced his ban.

“I don’t know, I don’t have any evidence about that. And if there was politics, I’m not a player in politics, I’m just a freelance musician based in Nairobi,” he said.

He said he would not challenge the ban: “There’s nothing I can do, I just wait until maybe the decision is changed some day.

“It’s similar to a family house and you are denied entry… so you just have to wait maybe until the head of the family decides otherwise.”

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