UBA Targets $20tn Assets, One Billion  Customers in Next 75 Years

Charles Ajunwa

As part of its strategic projections into the future, the United Bank for Africa (UBA) has set targets of realising $20 trillion and one billion customers in the next 75 years. 

The Group Managing Director and Chief Executive Officer of the United Bank for Africa, Mr. Oliver Alawuba, disclosed this yesterday at the unveiling of the “UBA Wall Tribe” and “UBA Time Capsule” held in Lagos. 

Alawuba, who was accompanied by some board members, Executive Directors, Senior Executives of UBA across all the countries, said that UBA in the next 75 years would be dominant in over 100 countries of the world, adding that in the next 75 years UBA would be the the bank that will link Africans to the world and the world to Africa.

“Today, we are about $20 billion total assets. In the next 75, UBA will be $20 trillion. Today, we have over 40 million customers. In the next 75 years, UBA will be 1 billion customers across the world. Today, we are present in about 24 countries. In the next 75 years, UBA will be present and dominant in over 100 countries. Yes, we are dominant in few countries
today. 

In the next 75 years would be one of top banks in the whole world. 

“Why do I say so? because I know that the future of the world is in Africa, and the future in Africa is in UBA. So in the next 75 years, UBA will be that bank that will continue to link Africans to the world and the world to Africa. UBA will be that bank that will be controlling payment systems across all the countries in Africa and the world at large. UBA will be that will be dogged in our financial institution. 

“UBA has a future and the future of UBA is great. I pray that you continue to preach and believe that this institution that has been handed over to us, that we will hand it over to the next generation that will keep UBA flying in the next 100 and 200 years to come,” Alawuba said.

He further said:  “the UBA Tribe Wall will be an enduring memory that today (September 19, 2024) you are part of UBA and you will remain part of the UBA. 

“We also have the UBA Time Capsule, which is way of telling our story from the beginning of the UBA. From just a small location behind us in 1949, UBA has grown to become a global financial institution from South of Africa, and we are so proud of what UBA has achieved in the last 75 years. 

“It’s also an occasion for us to be very grateful  and show appreciation to all those who have worked from the founders of UBA till day to make UBA what it is. 

“I will like to thank specially and humbly the Group Chairman of UBA, Mr. Tony Elumelu, and all the board members for the vision, the courage for leading UBA to this great institution that we are today. 

“I then invite all the Board members, all the Executive Directors, all the Senior Executives of UBA across all the countries, all the Board members in the subsidiaries, they are also making great contributions to UBA. I will like to thank all Managers, all Branch Managers, all staff of UBA wherever you are, you are part of what we are doing today. 

“We also like to thank all customers of UBA. Indeed, without the customers of UBA there would have been no UBA. So we thank every customer of UBA, you have been banking for the past 50 years and I feel humbled that you have continued to patronize UBA. They are the UBA that we are celebrating today.

“I will like to also thank all those that contributed in one way or the other. Some of them may not be customers, they may be third parties like the vendors. You are also part of the UBA family, I will like to thank you. We appreciate everybody, “ the UBA GMD/CEO concluded. 

The exhibition was part events lined up to celebration UBA)’s 75th anniversary, showcasing the journey through the rich history, significant milestones, and remarkable evolution of UBA over the past seven and a half decades.