UBA Expands Further into Africa

January 27, 2011

, NAIROBI, Kenya, Jan 27 – United Bank for Africa, has deepened its roots in the continent with the inclusion of a subsidiary in Democratic Republic of Congo.

UBA Congo DRC, will begin operations on Monday January 31, following approvals by the Central Bank of the Democratic Republic of Congo (DRC) and other regulatory agencies in Nigeria and DRC.

UBA Africa CEO Rasheed Olaoluwa, says the bank will provide comprehensive financial services solutions to the people and leverage on the Group\’s presence in East and Southern African countries with common borders, to support multinational and local co-operates in cross border trade and financial transactions.

Executive Director at the group, Kennedy Uzoka, says UBA Congo DRC like all other subsidiaries on the continent, will make significant contribution to the development of banking and the economy in Congo DRC leveraging on our group financial strength, expertise and deep knowledge of the continent"

This brings to four, the number of countries with UBA\’s presence in the Central Africa region having previously opened in the Republics of Chad, Cameroon and Gabon.

United Bank for Africa Plc is a leading financial institution offering universal banking to more than seven million accounts across Africa and key financial centers. It currently operates in 18 African countries with presence in New York, London and Paris as well.

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