Alawuba: UBA America Positioned to Support Payments, Settlement of Businesses

Eromosele Abiodun and Nume Ekeghe in Washington DC

The Group Managing Director, United Bank for Africa Plc (UBA), Mr. Oliver Alawuba, has highlighted the pivotal role UBA America plays in facilitating trade and financial transactions between Africa and the rest of the world.
As the only African bank with a national banking licence in the United States, he pointed out that UBA America provides essential support for payment and settlement needs, enabling seamless financial flows that bridge African markets with the rest of the world.

Speaking to journalists on the sidelines of the ongoing IMF/World Bank annual meetings in Washington DC, Alawuba, reiterated the bank’s unique positioning and longstanding commitment to making sure that its customers are getting the best of services.
He said: “We are proud to say that UBA is the only bank originating from Africa that is present in the United States of America, regulated with a national banking licence, regulated by the Office of the Comptroller of the Currency  (OCC) and that is a very prime position for us to support payments and to support settlements of businesses that originating out of Africa, or between Africa and the rest of the world. Today, UBA America is 40 years in America.”
UBA America, he emphasised, also collaborates closely with African central banks, supporting them in facilitating cross-border transactions.

“UBA America is a settlement bank for so many banks out of Africa, and this is what has been very difficult for banks out of Africa to have settlement banks in our correspondent banks in America.
“UBA America is playing that role. UBA America is also banking many central banks because we understand the African business, and we are able to bank many central banks.”

Alawuba further underscored UBA’s commitment to transformative banking, saying, “We are in Africa for the  long-term. UBA is not just about banking, UBA is about changing the lives of Africans.  As we do that, we push ourselves to change the lives of Africans.
“We keep paying good dividends and keep making sure that our customers are getting the best of services through the technology that we are deploying and through the various markets and products will be producing.”
Also commenting, the Chief Executive Officer, UBA America, Yomi-Ajayi, highlighted the bank’s support for infrastructure and social development in the continent.

Yomi- Ajayi said: “We leverage our extensive network, especially in Nigeria where we are present in every state, city, and local government. This allows development partners to reach more communities and maximise their impact on poverty reduction, education, food security, and other pressing issues.

“We believe in giving back, so our role involves partnering with institutions to address key social challenges and support those affected by displacement and other hardships.”