United Bank for Africa (UBA) is marking the 40th anniversary of its American branch, UBA America, a key player in promoting economic and cultural ties between Africa and the United States.
UBA America was initially set up in 1982 as a representative office in New York and later became a fully operational branch in 1984, after receiving a federal banking license. This gave the branch the same privileges as any US national bank, enabling it to offer various services, including payment solutions, trade finance, loans, and foreign exchange services.
In a statement on Wednesday, UBA America highlighted its achievements over the last four decades, stating that it has served the financial needs of African banks, multinational corporations, and international development organizations. UBA’s presence in the US has helped bridge the gap between African businesses and the global financial market.
UBA’s Group Managing Director and CEO, Oliver Alawuba, acknowledged UBA America’s contributions to the financial sector. He noted that the branch has been at the forefront of providing innovative financial services and maintaining strong corporate governance practices.
Alawuba said, “The success story of UBA over the past 75 years is a testament to our vision and determination. UBA America’s 40-year journey is not just about longevity but also about its substantial contributions to the financial industry and the communities we serve.”
Reflecting on the journey, Sola Yomi-Ajayi, CEO of UBA America and Group Executive Director for International Banking, expressed her pride in the branch’s accomplishments. She emphasized UBA America’s commitment to financial inclusion, its dedication to building partnerships, and providing access to global markets for African businesses.
“Celebrating 40 years of UBA America underscores our resilience and commitment to Africa,” Yomi-Ajayi said. She also praised the bank’s staff for their hard work and reinforced UBA America’s commitment to excellence, innovation, and regulatory compliance.
Since its inception, UBA America has focused on promoting financial growth by providing essential services to African banks and organizations looking to engage with the US market. Its role as a bridge between Africa and the US has helped drive economic opportunities and cultural connections, benefitting both regions.
With its strong track record and continued efforts toward financial inclusion, UBA America remains a key player in the financial services sector, offering solutions that cater to the growing needs of its diverse clients.
As UBA America looks to the future, it aims to continue fostering partnerships that drive financial growth in Africa while strengthening its presence in the global market.
This milestone is part of UBA’s broader 75-year history of success, with UBA America being a vital component in its international banking network, which spans Africa, Europe, and other regions of the world.
The anniversary celebration serves as a reminder of the bank’s resilience and its ongoing commitment to providing innovative financial services to customers across the globe.
