UBA Group launches historic year-long 75th anniversary celebration.

The event marks the start of a chain of premium activities across the globe, to celebrate the bank’s resilience, credibility, longevity, achievements and solidity.

Officials also restated that the milestone portrays UBA as the best institution for contemporary and future investments.

A team of UBA Group top executives, faced at least 75 journalists from across the globe, during the outing. 

Among them were the Group’s Managing Director and Chief Executive Officer, GMD/ CEO, Oliver Alawuba; the Group Deputy Managing Director, GDMD, Muyiwa Akinyemi; Executive Director, ED/Finance and Risk Management, Ugochukwu Nwaghodoh; the Group Head, Marketing and Corporate Communications at UBA, Alero Ladipo; and Executive Director, ED/Group Operating Officer, Alex Alozie.

Year-round events to celebrate trust, excellence

According to Alero Ladipo, Group Head, Marketing and Corporate Communications at UBA, a series of activities have been lined up in the 20 African countries where the bank is present and other subsidiaries across the globe.

Ladipo announced that the grand finale of the year-long celebrations will take place in November 2024. She disclosed that there will also be the launching of a documentary, a Corporate Social Responsibility, CSR, programme and other UBA activities, in education empowerment and environment across countries where the bank operates. 

The Marketing and Corporate Communication boss of UBA, said there will be a hackathon for young people across the globe to participate online to show their innovations in boosting banking. 

She also talked of the launch of the 75^th anniversary promo and other events that will be specific to countries where UBA operates.

Group MD on collective efforts 

Speaking at the global event, the Group Managing Director, MD of UBA, Oliver Alawuba, retraced the road the bank has covered in the last 75 years. He recounted its remarkable achievements and plans for the future. 

Alawuba declared that the bank will continue to remain the pride of Africa, offering the best financial services, upholding inclusion and financing development. 
This, he specified, will be across all sectors to enhance inclusiveness and boost the wellbeing of its clients.

GMD hails stakeholders’ contribution 

The Group Managing Director described the feat as a momentous occasion, while revisiting and saluting the history of the men and women who have contributed to raising UBA to unequaled global levels.

Besides saluting former and current UBA staff for their contribution to the growth of the group, the GMD said, for 75 years and still counting, “the UBA Group is looking forward to raising future leaders, who will continue to raise the bar in banking”.

He singled out the UBA Group Chairman, Tony Elumelu, for the major positive changes he has brought to the bank, while serving as GMD/CEO, particularly in 2005. 

Alawuba also commended the Board members and executive management of the institution for providing guidance and support.

“Customers’ priority, comfort our secret”

The Group Managing Director told journalists that the secret of UBA’s exploits, amidst challenges globally and particularly in Africa, are linked to its constant commitment to satisfying customers’ needs. Customers’ interest and comfort, Alawuba maintained, are what have kept UBA atop.

“Our secret is the customer and adaptability to the comfort of the customer. Solve the customer’s problem, and everything will work,” he underscored.

He added that the “customer is our employer and sole reason we come to work. We combine people, technology and process to achieve excellent customer experience. Together, we will write the next phase of growth”.

UBA unlocking Africa’s opportunities, potential

He assured that the UBA will continue to do more to satisfy its diverse clientele.

According to Alawuba, “there are opportunities in Africa…UBA is the institution and UBA is the bank investors are looking for”.

Through its subsidiaries across Africa and the world, he reiterated that investors have nothing to fear. 

“In the past two years, dividends have been above 12 percent. Expansion is diversification of income streams. We have to do more,” Alawuba stated.

He assured stakeholders that with the support of fintechs and financial partners, some of which the UBA has signed agreements with, efforts will be redoubled to enhance Africa’s development.

“We push the frontiers and we do things people think are not possible. We will continue to unblock opportunities to drive growth,” the UBA Group Managing Director stated.

Culture of stability, excellence & pioneering change

In the last 75 years, the GMD resounded that millions have identified with UBA, because of its culture of excellence, innovation and commitment. He said the practice has transcended generations in millions of families.

In this light, he averred that: “UBA means different things to different people. It is a catalyst for Africa’s development”. 

He also said the bank has been the pioneer in several banking innovations.

Some of these, he said, are first African bank to be present in 20 African countries, first to get a deposit license in the United State of America, first to get a license to operate in United Arab Emirates, first bank to offer initial public offering in 1970, first bank to be listed on the Nigerian Stock Exchange, first in Nigeria to introduce the Automated Teller Machine, ATM, first to open a campus branch in the University of Lagos and first to launch a multi-lingual Chatbot Banking.

He also took pride that UBA is the first bank in Nigeria to have opened a branch outside the country. This, he said, was in Ghana, in 2005. 

The Bank, he added, also holds the record of being the first to have a woman as Group Chairperson. UBA, Alawuba also said, holds the record of being the first bank to introduce mobile banking, among others.

UBA model for African businesses 

In terms of powering Africa’s development, Alawuba said UBA will continue to remain “a model for African businesses” and serve as the contact point to the world to enhance cash flow between Africa and the globe.

Insisting on UBA’s policy of driving Africa’s growth, Alawuba restated that “we support key sectors, building ports and building stadia…in some countries, we build capacity for revenue generation. Our support to African economies is across sectors, mining and cocoa in several countries. We are committed to developing Africa. It is showing in performances. It has continued to improve”.

6 billion US dollars for SMEs across Africa

Another major announcement from Monday’s launch of activities to mark UBA’s 75^th anniversary, was the disclosure that the bank will make available 6 billion US dollars to finance Small and Medium Sized Enterprises, SMEs, across Africa.

Detailing on this, the Group Deputy Managing Director, GDMD, of UBA, Muyiwa Akinyemi, said SMEs remain the engine of Africa’s development.

Muyiwa said the goal is to push up trade among African countries, which is still stagnating around less than 16 percent. He also said the money, which will come from UBA’s deposits, targets boosting production and reducing dependence on imports.

Going by Muyiwa, the giant move from UBA is “a key focus of growth and improving developments”. He also said Global Financial Institutions, GFIs, are joining the crusade.

The UBA, he added, has also signed a 50 million US dollar deal with the African Guarantee Fund, to support SMEs across Africa.

Cameroon’s exploits, potential hailed

Beyond stating that UBA’s subsidiaries across Africa account for 50 percent of its revenue, the Group Managing Director singled out Cameroon.

Alawuba said the branch’s subsidiary in Cameroon is doing well and could even become a group supporting other countries. 

In terms of promoting development, the Group Managing Director said, the bank has funded projects such as construction of stadia for the hosting of the 2021 edition of the Africa Cup of Nations, AFCON.

Alawuba also cited UBA’s investment in the expansion of the Douala Port Authority and moves to revive the National Oil Refining Company, SONARA, among others.

Women empowerment record

During Monday’s exchanges, UBA’s Head of Marketing and Corporate Communication, Alero Ladipo, disclosed that 50 percent of the bank’s staff are women. 

In its various subsidiaries, Ladipo said 33 percent of Managing Directors, MDs, are women. She also restated that the bank remains committed to promoting inclusiveness and empowering women.

Global investment for Africa

For the Executive Director, ED/Finance and Risk Management, Ugochukwu Nwaghodoh, UBA will continue to remain the leader in attracting global investments for Africa’s development.

He told reporters that: “We will continue to explore ways to attract investments from across the globe. UBA will not leave out any opportunity”.

When it comes to correspondent banking, he disclosed that: “UBA acts as a correspondent bank for several banks across Africa. In the United States, we are the channel for donor flows. We will continue to take opportunities in terms of correspondent banking role for African businesses”.

Putting technology within the same prism, he said UBA remains open to adapting modern technology that meets its commitment to satisfy its ever-growing clients.

Alex Alozie, Executive Director/Group Operating Officer at UBA, for his part, said the bank is committed in using technology that connects countries but protects clients against fraud.

“Across Africa, we have ensured technology that connects countries. In terms of fraud, as we empower customers, we work to ensure they are not losing,” Alozie declared.

 UBA in brief

The United Bank for Africa is the offshoot of the British and French Bank Limited, BFB, that saw the light of day in 1949. 

Today, it is present in 20 African countries, France, United Arab Emirates, UAE, United Kingdom and United States. 

The bank has a client catchment of over 35 million persons. Its workforce is over 25,000. UBA boasts of 350,000 Points of Sale, POS, terminals, 2,000 ATM terminals, 19.7 million card customers and 1,000 business offices.

By Maxcel Fokwen, on special assignment in Lagos