FRI, 15 JULY, 2022-theGBJournal| United Bank for Africa Plc, (UBA) the multinational financial services group and Africa’s global bank with headquarters in Lagos, Nigeria, has opened operations in Dubai, the United Arab Emirate.
The bank is now officially the first Pan-African bank to establish a branch in the Emirate directly from Nigeria. The Dubai branch opening means that the UBA now has presence in 24 countries globally and in four continents.
UBA said the birth of the UBA Dubai is in line with its vision: global in outlook and competence, Africa by heart and knowledge, and a bridge to the world economy.
‘’Over the years, the Gulf, especially the UAE have become an important hub for global trade and also a trade gateway for Africa.’’ The bank noted.
With the Dubai branch opening, the bank can now effectively serve its customers across the Middle East.
The Bank said its core focus will be on correspondent banking, trade and treasury, ‘’while harnessing the opportunities the region has to offer to unlock its untapped economic potential and support for Africa’s development.’’
The Group’s Chairman, Tony Elumelu was in Dubai Thursday to mark the historic milestone.
He said, ‘’Dubai’s strategic position as a thriving global trade hub at the intersection of Asia, Europe and Africa makes it an ideal market for our 35 million plus customers to leverage their businesses and boost their global footprint.’’
He reiterated UBA’s pledge to remain Africa’s number one financial institution ‘’that is committed to advancing the cause of Africa on the global stage.’’
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