By Ayomide Otitoju
United Bank for Africa (UBA) Plc is marking the 40th anniversary of its U.S. branch, UBA America, highlighting its role in fostering economic and cultural connections between Africa and the United States.
Founded in 1982 as a representative office in New York, UBA America was granted a federal banking license in 1984, allowing it to operate as a full-fledged branch with the same powers and privileges as a U.S. national bank. This enabled the branch to offer a range of financial services, including payments, trade finance, loans, and foreign exchange solutions.
In a statement released on Wednesday, UBA acknowledged the branch’s contributions to the financial sector over the past four decades. UBA America has become a significant player, serving African banks, global corporations, and development organisations with its innovative financial solutions.
UBA’s Group Managing Director/CEO, Oliver Alawuba, lauded UBA America’s impact, stating, “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. The success of UBA over the past 75 years reflects our vision and determination.”
Sola Yomi-Ajayi, Chief Executive Officer of UBA America and Group Executive Director for International Banking, also reflected on the branch’s achievements. “Celebrating 40 years of UBA America underscores our resilience and commitment to Africa. We are dedicated to promoting financial inclusion and forging strong partnerships while providing access to global financial markets,” Yomi-Ajayi said.
She further praised the bank’s staff for their dedication and reaffirmed UBA America’s ongoing commitment to excellence, innovation, and regulatory compliance.
