The United Bank for Africa (UBA) is poised to facilitate business and development across Africa, according to CEO Oliver Alawuba. Speaking at the World Bank IMF Annual Meetings in Marrakech, Morocco, Alawuba outlined UBA’s pan-African growth strategy and financial performance.
With operations in 20 African countries and four more internationally, UBA is focused on harnessing Africa’s potential. Alawuba stressed the importance of partnerships between African corporations and institutions to develop the continent’s resources and opportunities.
UBA is leveraging digital technology to drive financial inclusion across Africa. The bank aims to build strong African institutions to support infrastructure growth. “UBA is well positioned to facilitate business within Africa and the rest of the world,” Alawuba stated.
The CEO predicted fruitful agreements between UBA and development partners like the International Finance Corporation (IFC) and the African Export-Import Bank (AFREXIM). UBA has committed $6 billion towards SME financing with the African Continental Free Trade Area (AfCFTA) and women’s empowerment programmes.
Despite the risks of rising interest rates, UBA remains committed to sustainable expansion in Africa. The bank continues to deliver strong profits, recording tremendous improvement in 2022 and H1 2023. UBA’s presence across Africa and internationally is yielding results.
Alawuba reassured shareholders that UBA’s performance means more dividends ahead. With a focus on inter-African trade and leadership in pan-African payments infrastructure, UBA is cementing its position as a dominant banking force in Africa.