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UBA Marks 75 Years Milestone With A Global Outlook

BY Soko Directory Team · May 21, 2024 10:05 am

UBA Group has clocked 75 years of being in business, spreading its wings to more than 20 countries around the world, including Kenya.  The bank began operations in 1949 on Kakawa St, Lagos Island as the British & French Bank before evolving into the giant it is today.

For years, UBA Group has been expanding within and without Africa with a keen focus on small and medium enterprises (SMEs) and presenting startups with opportunities such as the Tony Elumelu Foundation grant that has seen thousands of entrepreneurs benefit.

The bank made history when it became the first bank in Nigeria to set up an ATM, became the first lender to set up a branch within the campus for university students, and is currently the only bank in Sub-Saharan Africa to have a license in the United Kingdom.

Speaking during the kick-off of the celebration, the Group’s Chief Executive Officer, Oliver Alawuba reiterated the commitment of lenders to continue empowering Africa and beyond. He encouraged more investors to buy shares within UBA because doing so is the same as investing “in more than 20 countries.”

“UBA is the present and the future. For those looking for where to invest, why not UBA? If you buy into UBA, you are buying into more than 20 countries both in Africa and outside Africa,” said Aluwaba.

Aluwaba said that UBA’s commitment to expansion and seizing growth opportunities is reflected in its $6bn SME funding agreement signed with the African Free Trade Area (AfCFTA). The fund is aimed at deepening relationships with customers, employees, regulators, and other stakeholders for mutual benefit and long-term success.

“We continue to grow as we have always done. Today we have over 25,000 Staff, and over 35 million customers served through multiple channels – over 350,000 POS terminals, 2,000 ATM terminals, 1,000 Business Offices, and 19.7 million Card Customers… This is a clear testimony of the trust that our customers have in us,” he said.

The 75-year-celebrations of the Group are coming at a time when its subsidiary in Kenya, UBA Kenya Bank is gearing towards marking 15 years of being in operations in Kenya. UBA Kenya Bank has also been keen on SMEs and entrepreneurs in Kenya and beyond.

“As we join our UBA PLC in celebrating 75 years, UBA Kenya is also marking 15 years in the Kenyan market. This celebration is dear to us and it is a testimony of our commitment to continuing serving our Kenyan customers and those beyond,” said Mary Mulili, the CEO of UBA Kenya Bank.

Read Also: UBA Group Hits 75 Years Of Financial Impact In 20 Countries

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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