UBA charts bold global expansion, eyes 1bn customers

United Bank for Africa (UBA) Plc has unveiled a bold new vision to transform itself into a truly global African institution, announcing plans to expand its footprint to over 100 countries and grow its customer base to more than one billion people over the next 75 years.

The ambitious roadmap was revealed over the weekend by Dr. Oliver Alawuba, Group Managing Director/Chief Executive Officer of UBA Plc, during his opening remarks at the UBA @75 anniversary gala dinner held in Abuja. Themed “UBA @75 – A Legacy of Excellence… A Future of Impact,” the celebration marked a historic milestone for the financial giant.

Alawuba emphasized that UBA’s next chapter will be powered by cutting-edge technology, relentless customer-first innovation, strategic partnerships, and deep-rooted trust with its customers.

“At UBA, we are building more than a bank; we are building a future for the next generation of Africans—one defined by opportunity, inclusion, and transformation,” Alawuba declared.

“In the next 75 years, UBA will not just be part of Africa’s economic renaissance—it will shape its trajectory and champion its transformation globally.”

Tracing UBA’s journey, Alawuba noted that the bank began operations in 1949 as the British and French Bank on Kakawa Street, Lagos Island.

From those modest beginnings, UBA has grown into a financial powerhouse operating in 20 African countries and four major global financial centers—New York, London, Paris, and Dubai.

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Currently, UBA serves over 45 million customers through a robust network of 1,000 business offices, 430,000 POS terminals, 2,600 ATMs, and 21 million cardholders, backed by a 25,000-strong workforce.

Highlighting its recent achievements, Alawuba revealed that UBA’s gross earnings for the 2024 fiscal year surged by 53.6% to ₦3.19 trillion ($2.14 billion). Total assets grew by 46.8% to ₦30.32 trillion ($19.58 billion), while shareholders’ funds rose by an impressive 68.39% to ₦3.42 trillion ($2.21 billion).

“These milestones stand on the pillars of stability, resilience, and excellence—pillars that have anchored UBA’s growth over the last seven and a half decades,” he added.

Nigeria’s Vice President, Senator Kashim Shettima, lauded UBA’s remarkable journey, describing the institution as a beacon of innovation and a pacesetter in emerging markets.

“Seventy-five years is not an achievement you stumble upon; it is earned through risks, resilience, and visionary leadership,” Shettima said.

“UBA’s success is owed to its leadership’s ability to stay relevant—managing not just capital but also curiosity, innovation, and the dreams of future generations.”

He praised UBA for shaping economies and redefining what an African institution can achieve when excellence is institutionalized. The Vice President also paid special tribute to UBA’s Group Chairman, Tony Elumelu, calling him “one of Africa’s finest sons” and a rare bridge between tradition and innovation.

“Tony Elumelu is not just a dreamer but a dream-maker,” Shettima said. “He has shown that it’s possible to build global empires without losing the warmth of family and home.”

He further hailed Dr. Awele Elumelu, describing her as the quiet yet powerful force behind her husband’s success.

In his remarks, Tony Elumelu expressed profound gratitude to UBA’s customers, staff, and stakeholders who have sustained the institution’s legacy.

“This is a night of celebration and gratitude. We are standing on the foundation laid by others, and we owe it to them and the next generation to keep pushing forward,” Elumelu said.

Looking ahead, Elumelu expressed confidence that UBA’s fortunes will continue to soar, especially with ongoing economic reforms in Nigeria under President Bola Ahmed Tinubu’s leadership.

“Transform our domestic economy, and UBA will keep roaring,” he declared.

As UBA embarks on its next 75 years, the institution is determined to deepen its African roots while spreading its wings across the globe, promising to leave a lasting legacy of excellence, innovation, and impact for generations to come.