Business UBA to Expand to 25 African Countries

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LequteMan

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United Bank for Africa (UBA) has announced that it plans to increase its presence in Africa outside Nigeria to 25 countries from the current 18.

The bank will also inject capital into its subsidiaries in Kenya, Tanzania and Uganda, its chairman Tony Elumelu said on Tuesday.

According to him, the bank was gearing up with a view to "harnessing the potential represented by the wider African economy through its expansion plans".

"Our intention is to be the leader in African financial services," Elumelu said on the sidelines of a news conference in Lagos late on Tuesday.

UBA, one of Nigeria's largest banks with more 700 branches, has subsidiaries across Africa in countries such as Ghana and Ivory Coast in the west, Kenya and Uganda in the east and Mozambique and Zambia in the south.
 

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