United Bank for Africa celebrates 75 years
In a significant milestone, the United Bank for Africa (UBA) Group has celebrated its 75th anniversary, marking decades of dedicated service and growth.
Notably, UBA’s extension to Uganda in 2008 marked the establishment of its first subsidiary in the East and Southern Africa Region which exemplified the bank’s commitment to growth and development.
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As UBA Uganda celebrates 16 years of operation, it has branches across the major regions countrywide like in the Central, East, West and North.
The Group Managing Director, Oliver Alawuba, speaking at the global press conference marking the Group 75th anniversary of United Bank for Africa (UBA), underscored the bank’s strategic focus on becoming the payment bank for capital flows, trade, and investment between Africa and the global market.
What Oliver noted is exemplified by the bank’s commitment to providing $6bn in financing SMEs agreement which was signed recently between UBA and The African Continental Free Trade Area (AfCFTA).
This initiative aims to bolster intra-African trade and enhance economic integration across the continent through all UBA Subsidiaries across Africa.
He further highlighted that the anniversary is more than a mere celebration, describing it as a testament to UBA’s enduring resilience, relentless innovation, and steadfast commitment to excellence over the decades.
“Our journey has been defined by our ability to adapt and thrive amidst changing market dynamics,” he remarked. The bank’s historical trajectory from a modest beginning in Lagos-Nigeria to a formidable global financial institution exemplifies its strategic vision and operational penetration in many more countries more than where it is today.
In his address, Oliver emphasized UBA’s strategic intent to capitalize on opportunities within emerging markets, with innovation and digital transformation at the core of its growth strategy.
“Innovation and digital transformation are the key parts of the bank’s best strategy for future growth and competitiveness. UBA will continue to invest in innovative products, services, and digital platforms that enhance customer satisfaction and experience,” he noted.
Speaking further, he articulated a clear and ambitious vision for UBA, which is aspiring to be a benchmark for African businesses.
The bank’s motto, “United Bank for Africa: One Bank, United Africa, Connecting Africans to the World and the World to Africa,” summarises this aspiration.
According to Oliver, UBA represents the quintessential bank that investors are seeking.
"Over the past two years, our dividend yield has consistently exceeded 12%. UBA’s presence across 24 Countries does not only underscores our robust diversification of income streams but also confirms the unique investment proposition we offer."
Since its inception in 1949, UBA has expanded its footprint across 20 African countries and four global financial centers, including London, Paris, Dubai, and New York.
The bank employs 25,000 staff members and serves 35 million customers, underscoring its significant scale and reach. Its operational infrastructure includes 1,000 business offices, 2,000 ATMs, 20 million cardholders, and 50,000 point-of-sale terminals.
UBA Uganda being part of the 20 UBA African subsidiaries whose customers are to benefit from the partnerships between UBA and the African Continental Free Trade Area (AfCFTA).
