Spearheaded by Patrick Guttman, CEO, United Bank of Africa (UBA), United Kingdom, the retail licence obtained by the bank was a welcome addition to its already global portfolio with a presence in mainland Europe and America.

In a lively ceremony in London, the United Bank of Africa(UBA) UK franchise, UBA UK was launched.

The high-level gathering of business and public sector leaders on Thursday, February 28, 2019, barely three weeks after the UBA group launched its operations in Mali, in an upscale ceremony at the landmark and prestigious The Shard in London, UBA UK was formally introduced to business leaders across Europe and Africa with a commitment to galvanise trade and commerce between Europe and Africa.

The formal launch is a sequel to the authorisation of the Prudential Regulation Authority(PRA) and the Financial Conduct Authority(FCA) for UBA UK Limited to carry out full-scale wholesale banking across the United Kingdom.

With this launch, UBA Group further consolidates its unique positioning as the first and only Sub-Saharan African financial institution with banking operations in both the United Kingdom and the United States, thus reinforcing its strong franchise as Africa’s Global Bank, facilitating trade and capital flows between Africa and the world.

Speaking at the event, the Group Chairman, Mr Tony Elumelu (pictured), said the Group is excited by the authorisation of the relevant regulatory authorities in the United Kingdom for UBA to upgrade its operation and further fulfil its aspiration of deepening trade and investments flows between Africa and Europe.

“The enhancement of our business in the United Kingdom is very timely and mutually beneficial for African and European corporates as well as respective governments. With the British and other European governments seeking new and improved measures to grow trade relations with Africa, we are enthusiastic on our positioning and capabilities in supporting corporates and government institutions to fulfil these lofty aspirations, which we believe are pertinent for the sustainable growth of both continents.”

Elumelu expressed that he is extremely pleased as UBA is living up to its mantra of being Africa’s global bank and positioning itself to support investors in important financial centres across the world.

The Group Managing Director/CEO, Mr Kennedy Uzoka, noted that “UBA Group is the most efficient gateway for European corporates and institutions to access Africa, given the bank’s expansive network across most impact markets on the continent and its deep knowledge of the business terrains in Africa.

According to him, “Simultaneously, we are serving the trade and capital needs of our African customers, who are seeking exposure to the European markets. With the upgrade of UBA UK Limited, we are excited to deepen our support to existing customers while also providing the leverage for new customers to fulfil their cross-border transactions through UBA Group’s network effectively.”

Mr Patrick Gutmann, the CEO, UBA UK (main picture) said; “We are now on a stronger footing, as the authorisation of the PRA and FCA for an enhanced business model allows us to swell our capital and balance sheet as well as the broader UBA Group’s network across Africa. We welcome our existing and new customers to this new world of borderless opportunities, as we creatively serve our customers in meeting their international transaction needs.”

Some of the guests at the event were the President of Dangote Group, Alhaji Aliko Dangote, President, Afreximbank, Dr Benedict Oramah, Former Prime Minister of Pakistan, H.E Shaukat Aziz, Rt Hon Lord Anthony Tudor St. John, Member of the British House of Lords and Executive Committee Member of the All Party Africa Group, amongst many others.

The event was not short of entertainment as one of Africa’s leading pop star Oladapo Oyebanjo popularly known as Dbanj performed to the admiration of guests including Star boy, Whiz Kid.

United Bank for Africa (UK) Limited, previously named UBA Capital (Europe) Limited offers a full suite of treasury services, cash management, correspondent banking, corporate lending and wholesale deposit products to professionals and eligible counterparties.

Besides, UBA (UK) Limited offers all aspects of structured and trade finance; issuance, acceptance, confirmation and refinancing of Letters of Credit of different variations, including SBLCs.