United Bank for Africa (UBA) has made an important announcement that they will soon operate fully as a bank in France. This news came out after a meeting that took place late Thursday, during which UBA signed a formal agreement with Antoine Armand, the French Finance Minister. This agreement is a key development that occurred during a state visit to France by Nigeria’s President Bola Tinubu.
At the signing event, UBA Group’s Chairman, Tony Elumelu, was present alongside President Tinubu and French President Emmanuel Macron. The agreement they signed indicates that the French government supports UBA in its plans to establish complete banking services in France.
During the ceremony, Elumelu emphasized that this partnership shows UBA’s commitment to providing easy and efficient banking services to its customers around the world. He noted that UBA already serves customers in 11 Francophone African countries, and they aim to expand their services to include not only African clients but also those from France and other European nations who are engaging in business with Africa.
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Elumelu explained that opening a branch in France is a logical step for UBA, as Paris will act as their hub for operations within the European Union. He also mentioned that Paris will be an important part of UBA’s global network, alongside cities like London, New York, and Dubai, which are all major international financial centers.
With this new agreement, UBA joins the ranks of major Nigerian banks that have a presence in France, marking a significant development in their global strategy.
President Tinubu’s visit to France marks a pivotal moment, as it is the first official visit by a Nigerian leader to Paris in over 20 years. Upon his arrival, President Macron greeted President Tinubu in Nigerian Pidgin English, highlighting the cultural connection between the two nations. Macron expressed his enthusiasm for the visit, calling it a great honor for France to welcome the Nigerian President.
