Olufemi Adeyemi 

United Bank for Africa Plc is commemorating the 40th anniversary of its American branch, which has played a significant role in enhancing economic and cultural connections between Africa and the United States.

Initially established as a representative office in New York in 1982, UBA America received its federal banking license in 1984, enabling it to function as a fully operational branch.

This license afforded UBA America the same capabilities and privileges as a national bank in the U.S., empowering it to offer a range of innovative financial services, such as payment solutions, trade finance, loan services, and foreign exchange options.

A statement released on Wednesday highlighted that over the last four decades, UBA America has established itself as a key player in the financial industry, serving the needs of African banks, multinational corporations, and development organizations.

Oliver Alawuba, the group managing director and chief executive officer of UBA, emphasized the significance of the celebration, particularly as it aligns with the 75th anniversary of the UBA brand. He affirmed the bank's unwavering commitment to uphold the principles of sound corporate governance in the United States and its determination to continue pioneering innovative financial solutions for clients worldwide.

He stated, “The journey of UBA over the past 75 years stands as a testament to the vision and relentless determination that warrants recognition. UBA America, celebrating its 40th anniversary, represents not only a milestone of endurance but also highlights the bank’s substantial contributions to the financial sector and the communities we serve.

“UBA’s mission has consistently been to create value, stimulate growth, and cultivate a robust and resilient financial ecosystem, with UBA America embodying this mission. We take pride in our accomplishments over the last four decades and are optimistic that UBA America will remain integral to our global strategy,” he remarked.

The CEO of UBA America and Group Executive Director for International Banking, Sola Yomi-Ajayi, highlighted the branch’s accomplishments during his remarks, “Celebrating 40 years of UBA America underscores our resilience and commitment to Africa.”

“We are dedicated to promoting financial inclusion and forging strong partnerships, while also providing access to global financial markets.”

Yomi-Ajayi also expressed his gratitude for the diligent efforts of the bank’s personnel and reaffirmed UBA America’s unwavering commitment to achieving excellence, fostering innovation, and adhering to regulatory requirements.