Nigeria's UBA plans African expansion, says Chairman Tony Elumelu

Tony Elumelu, Chairman, UBA Group. Credit:

United Bank for Africa (UBA) plans to increase its presence in Africa outside Nigeria to 25 countries from 18 now and inject capital into its subsidiaries in Kenya, Tanzania and Uganda, its Chairman said on Tuesday.

UBA Chairman Tony Elumelu said the bank was gearing up with a view to “harnessing the potential represented by the wider African economy through its expansion plans”.

“Our intention is to be the leader in African financial services,” Elumelu said on the sidelines of a news conference in Lagos late on Tuesday.

Read more: Nigeria’s UBA plans African expansion – chairman | News by Country | Reuters