United Bank for Africa Plc (UBA) is commemorating the 40th anniversary of its American branch, which has played a significant role in strengthening economic and cultural ties between Africa and the United States.
Established in New York in 1982 as a representative office, UBA America was granted a federal banking license in 1984, enabling it to operate as a full-fledged branch. This license empowered UBA America to provide innovative financial solutions, including payment services, trade finance, loan services, and foreign exchange solutions.
Over the past four decades, UBA America has emerged as a key player in the financial sector, catering to the needs of African banks, global corporations, and development organizations.
Oliver Alawuba, UBA’s Group Managing Director/Chief Executive Officer, praised UBA America’s role in providing innovative financial solutions and maintaining a high level of corporate governance. “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,” Alawuba stated.
Sola Yomi-Ajayi, the Chief Executive Officer of UBA America and Group Executive Director for International Banking, reflected on the branch’s achievements, noting, “Celebrating 40 years of UBA America underscores our resilience and commitment to Africa.” She added, “We are dedicated to promoting financial inclusion and forging strong partnerships, while also providing access to global financial markets.”
Yomi-Ajayi also expressed gratitude for the hard work of the bank’s staff and reiterated UBA America’s commitment to excellence, innovation, and regulatory compliance.
