By Ayomide Otitoju
United Bank for Africa (UBA) has achieved a major milestone, surpassing N1 trillion in market capitalization, further solidifying its position as a leading financial institution. This remarkable achievement comes alongside the bank’s impressive financial performance and growing international recognition.
As part of President Bola Ahmed Tinubu’s state visit to France, UBA also secured a landmark business cooperation agreement with the French government, marking a significant expansion of its global footprint. The agreement was signed in the presence of President Tinubu, French President Emmanuel Macron, and French Finance Minister Antoine Armand.
The partnership will support UBA’s efforts to expand its full banking operations in France, advancing the bank’s mission of connecting Africa to the global economy.
Tony Elumelu, Chairman of UBA Group, highlighted the strategic importance of the new agreement during the signing ceremony. “This partnership reinforces our commitment to providing seamless international banking services, not only across the 11 Francophone African countries we serve but also for French and European customers transacting with Africa,” Elumelu said. “Expanding into France is a natural progression, with Paris serving as our European Union hub. As we continue to bring Africa and the world together through innovative financial solutions, Paris will join London, New York, and Dubai as a critical component of our global network.”
UBA is one of the largest employers in the African financial sector, with 25,000 employees and over 45 million customers globally. With operations in 20 African countries, as well as in the United Kingdom, United States, France, and the United Arab Emirates, UBA remains a leader in financial inclusion, providing a wide range of banking services supported by cutting-edge technology.
