At 75, UBA leads African business transformation with innovative customer initiatives 

Onome Amuge

The United Bank of Africa (UBA) has pledged to set the benchmark for African businesses by forging a united Africa, as it continues on its march towards connecting its customers to the global community, with a primary focus on facilitating seamless capital flow, trade, and investments across Africa and the global economy.

Speaking at a world press conference, marking the bank’s 75th anniversary at the UBA House in Lagos, the bank’s leadership reaffirmed its dedication to becoming the premier payment bank for capital flows, trade, and investments.

Born as the British & French Bank on Kakawa Street, Lagos Island in 1949 as the British & French Bank,UBA has evolved into a banking powerhouse that embraces innovation and digital transformation for future growth. With a dedication to enhancing customer experience across all touchpoints, UBA aims to strengthen its position as a pioneer in the financial sector.

Oliver Alawuba, group managing director and CEO of UBA Plc, addressed an esteemed gathering of guests, press, stakeholders, and colleagues, past and present, at the bank’s 75th-anniversary celebration. Dwelling on UBA’s continued commitment to innovation, Alawuba highlighted the institution’s dedication to improving customer experiences as a means to uphold the accomplishments made throughout its 75-year history.

Reflecting on UBA’s storied journey, Alawuba attributed the bank’s resilience, pioneering spirit, and pursuit of excellence as defining factors in its transformation from a modest Nigerian establishment to a thriving global financial powerhouse.

He stated “Amidst economic challenges and market dynamics, UBA has demonstrated remarkable financial strength and resilience. Our splendid performance, especially within the last year, is a testament to our robust fundamentals and sound strategic decisions. As we navigate through the ever-changing landscape, we remain committed to creating value for our shareholders and capitalizing on emerging opportunities in the market.

Alawuba also spoke on the importance of innovation and digital transformation in the bank’s strategy for future growth and competitiveness, noting that UBA plans to invest in cutting-edge products, services, and digital platforms to improve customer experience and drive operational efficiency.

Alawuba also underlined UBA’s commitment to Corporate Social Responsibility (CSR), with initiatives focusing on education, healthcare, entrepreneurship, and environmental sustainability. 

Reflecting on UBA’s history, Alawuba highlighted a series of pioneering achievements:

• First Nigerian bank to offer an Initial Public Offering (IPO) in 1970
• First Nigerian bank listed on the Nigerian Stock Exchange (NSE)
• First Nigerian bank to open branches in the USA and London
• Pioneer in introducing mobile banking in Nigeria
• Introduced Leo, the first multi-lingual chatbot in Nigeria
• First Nigerian bank to launch successful Prepaid Cards across Africa

Alawuba also expressed the bank’s commitment to expanding its presence and seizing growth opportunities by fostering collaboration and partnerships, such as the $6 billion SME funding agreement with the African Free Trade Area (AfCFTA), aimed at delivering value to all stakeholders.

The GMD  reiterated UBA’s commitment to Customer First Philosophy, which he described as the bank’s primary business strategy. He also spoke about the pivotal role customers play in the bank’s operations. Regarding customers as UBA’s employer, Alawuba highlighted that their satisfaction is the primary reason for the bank’s continuous pursuit of excellence.

He further explained that UBA’s three pillars of service – People, Process, and Technology – are designed to provide exceptional customer experiences. 

The UBA GMD also paid tribute to Tony Elumelu, the current group chairman, crediting his guidance as instrumental to the bank’s enduring success.  He also commended board Members, executive management and staff across all its subsidiaries for their sacrifices, contributions, support, and guidance over the years, which have all contributed to the bank’s resilience and growth. 

Alawuba stated: “We appreciate and honour you because you built and nurtured the platform on which we are standing today. Our Group Chairman (Mr. Tony Elumelu, CFR) truly deserves special recognition and mention. Without his visionary push in 2005 and tutelage over the years, I doubt whether we would be where we are today. For these and more, we say a “BIG AND RESOUNDING THANK YOU” to him.

I will like to also take this opportunity to thank all customers of UBA around the globe. Your consistent support and patronage over the years have been amazing. You meet several people, they will tell you that they are third or fourth generation of UBA customers in their families, that their grandparents and parents were customers of UBA and their children currently carry UBA ATM cards, enrolled on our mobile banking and LEO chat bot banking. This is the strength of UBA.

This milestone is not just a celebration of longevity, but a testament to resilience, innovation, and unwavering commitment to excellence that have defined UBA’s journey over the decades.”

As UBA embarks on its next chapter, Alawuba appealed to stakeholders for continued support and collaboration. Emphasizing the collective role in UBA’s future achievements, the GMD shared his conviction that together, they can contribute to the bank’s enduring success story.

Muyiwa Akinyemi, UBA Group’s deputy managing director, also took the stage at the bank’s 75th-anniversary celebration to reflect on its remarkable journey. He noted that UBA’s evolution from its founding as the British & French Bank in 1949 to becoming Africa’s leading financial institution is a testament to its resilience and adaptability.

Akinyemi stated: “UBA today operates across 4 Continents with presence in 20 African countries, United States of America, France, United Kingdom and UAE; and over the past 75 years, we have exemplified stability, reliability, and excellence in banking, achieving numerous milestones and positively impacting the communities that we serve.

“Our commitment to exceptional customer experience as well as our financial strength and resilience over the years has been key to our success. Our robust performance, especially over the last couple of years, underscores our sound strategies and commitment to operational excellence. I am sure everyone in this room will agree with me that UBA remains an attractive investment opportunity as it continues to deliver exceptional value to our shareholders.” 

The deputy managing director affirmed the institution’s dedication to delivering value-driven experiences for customers. Highlighting UBA’s role as a forward-thinking organisation, Akinyemi underlined the bank’s adherence to global sustainability principles and its impactful corporate social responsibility initiatives in Africa, spanning education, healthcare, and environmental sustainability.

 “As you will learn from our interactions today, we look forward to another 75 years, 100 years of impact; to our people, businesses, and communities across the globe.

Together, we will continue to uphold our core values of Excellence, Enterprise, and Execution, driving sustainable growth and successes,” he added.