UBA America Celebrates 40 Years Anniversary.
United Bank for Africa Plc is proudly celebrating 40 years of its American branch, which has played a significant role in strengthening economic and cultural connections between Africa and the United States. The branch began as a representative office in New York in 1982 and transitioned to a full-fledged banking operation after receiving a federal banking licence in 1984.
This licence allowed UBA America to operate with the same powers and privileges as a national bank in the US. As a result, it has been able to offer a range of innovative financial solutions, including payment services, trade finance, loan services, and foreign exchange options.
Over the last four decades, UBA America has established itself as a key player in the financial sector, addressing the needs of African banks, global corporations, and development organizations. Its growth and influence highlight its importance in the industry.
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Oliver Alawuba, UBA’s Group Managing Director and Chief Executive Officer, praised UBA America for its commitment to providing innovative financial solutions while upholding high standards of corporate governance. He emphasized the branch’s contributions to the financial landscape.
Reflecting on the branch’s accomplishments, Sola Yomi-Ajayi, the Chief Executive Officer of UBA America and Group Executive Director for International Banking, noted that the 40-year milestone showcases the branch’s resilience and dedication to Africa.
Yomi-Ajayi expressed a strong commitment to promoting financial inclusion and building robust partnerships, ensuring access to global financial markets for their clients. This focus underscores UBA America’s mission to serve diverse communities.
In conclusion, Yomi-Ajayi acknowledged the hard work of the bank’s staff and reiterated UBA America’s dedication to excellence, innovation, and regulatory compliance, marking a significant chapter in the bank’s ongoing journey.
