Alawuba: UBA Strategic Investment, Expansion to Boost Revenue, Dividend

Kayode Tokede

United Bank of Africa (UBA) has assured that its strategic investment and expansion into Africa countries and beyond would boost its revenue, as well as translate into robust dividend payout to shareholders.

The new Group Managing Director of UBA, Oliver Alawuba stated this yesterday at the Bank’s closing gong ceremony on the floor of the Nigerian Exchange Limited (NGX).

The Board of Directors of UBA had announced the appointment of Mr. Oliver Alawuba as the GMD/CEO of the company effective 1st of August, 2022.
He stated that the bank is well positioned to leverage its increased visibility and pan African features to increase shareholders’ value on a consistent basis.
According to him, we are expanding our services beyond Africa, bringing in capital inflow and investment into Nigeria and Africa. Africa constitute over 50 per cent of our revenue and we will do more.

He said, “We will pay more dividend and grow our capital base. The bank has a future and we will continue to ensure that the shares of UBA continue to grow.”
Speaking, the CEO of NGX, Mr. Temi Popoola congratulated Alawuba on his recent appointment as the Group Managing Director/Chief Executive Officer of UBA, saying Alawuba on his illustrious career, having acquired over 25 years of work experience in the banking industry.
He encouraged UBA and other private issuers alike to utilise the NGX platform in meeting future financing needs to support their business expansion in line with their overall corporate strategy.

He emphasised on the digital strategy of the Exchange and its commitment to leveraging technology to drive retail participation and increase liquidity in the market.

He said the successful introduction of the first digital offer platform attracted a large amount of retail participation, encouraging UBA to take advantage of the digital platform for future equity capital formations and to broaden its shareholding structure.

The chairman, NGX Real Estate, Erelu Angela Adebayo, also congratulated the new team of UBA, saying that Alawuba commitment in the financial service sector over the last two decades has brought about great transformation on the economy.

“I trust you will deliver on this mandate that you have received and continued to promote Africa capitalism,” she said.

She stated that NGX has been at the forefront of continued development of the Nigerian capital market by leveraging opportunity with shareholders, stakeholders, government, policy makers and capital market operators to ensure issuers deliver value from their interactions with the capital market.
“At the exchange, we will continue to provide platform in supporting our clients, in meeting the strategic business objectives.”