Photo caption: The Group Chairman of UBA, Mr Tony Elumelu
The United Bank for Africa Plc has announced plans to expand its operations to more than 100 countries and grow its customer base to over one billion within the next 75 years.
The bank unveiled this vision during its 75th anniversary gala dinner held in Abuja on Saturday.
The event was attended by Vice President Kashim Shettima, top government officials, diplomats, captains of industry, and key stakeholders from across the continent.
In his opening remarks, the Group Managing Director and Chief Executive Officer of UBA, Dr Oliver Alawuba, said the bank was focused on building a future anchored on opportunity, inclusion, and transformation.
“At UBA, we are building more than a bank; we are building a future for the next generation of Africans — one defined by opportunity, inclusion, and transformation,” Alawuba said.
He recalled that UBA commenced operations in 1949 as the British and French Bank on Kakawa Street, Lagos Island, and has since grown to operate in 20 African countries and four international financial centres — New York, London, Paris, and Dubai — serving over 45 million customers.
According to him, the group’s performance in the 2024 financial year underscored its strong momentum, with gross earnings rising by 53.6 per cent to N3.19tn, total assets increasing by 46.8 per cent to N30.32tn, and shareholders’ funds strengthening by 68.39 per cent to N3.42tn.
Looking to the future, Alawuba said, “In the next 75 years, we envision a UBA with a presence in every African country and an expansion to over 100 countries worldwide. In the next 75 years, UBA will serve more than one billion customers, leveraging cutting-edge technology, customer-first innovation, and trusted relationships to meet the evolving needs of individuals, businesses, and governments.”
He added that UBA would not only participate in Africa’s economic renaissance but would shape and champion its transformation.
The Group Chairman of UBA, Mr Tony Elumelu, while speaking at the event, expressed gratitude to customers, shareholders, and staff who had contributed to the institution’s success over the years.
“This is a night of celebration, gratitude to God and to customers and shareholders who have made it possible,” Elumelu said.
He noted that the bank’s current achievements rest on foundations laid by previous generations and expressed confidence in UBA’s future growth, linking it to Nigeria’s ongoing economic reforms.
“On the vision of the next 75 years, just keep transforming our domestic economy as President Bola Ahmed Tinubu is doing, and UBA will keep roaring,” he said.
Elumelu further noted that the plan to cover every African country was achievable within a shorter timeline, saying the bank, already present in about 20 African countries, could expand across the continent within 7.5 years.
Vice President Kashim Shettima, who was the Special Guest of Honour at the event, lauded UBA’s resilience and transformation over the decades, describing the bank as a pacesetter in innovation, emerging markets, and generational leadership.
“Seventy-five years is not something you pick up at a supermarket. It is earned — through risks and calculations, through storms and sunshine, through mergers and acquisitions, and through the brainpower and courage of those who believe in its promise of a new world. That is what leadership means,” Shettima said.
The Vice President said UBA’s ability to remain vibrant across generations was a testament to its pursuit of relevance, new thinking, and adaptability.
“UBA has remained a pacesetter because it is led by people who do not just manage capital but manage curiosity,” he stated.
Shettima also commended Elumelu’s leadership, describing him as “a dream-maker” who had bridged generational gaps and redefined what it means to lead in Africa.
“Tony Elumelu is not a dreamer. Dreamers are those stuck in a bubble. Mr Elumelu is a dream-maker. He has made true the imagination of those who wish for an empire from the comfort of their homes,” he said.
The Vice President added that Elumelu had mastered the art of balancing leadership in the corporate world with a strong connection to community and family values
