The Kampala Report
  • Latest
    • Community
    • News
    • Trends
    • Education
    • Health
    • Africa
    • World
  • Money
    • Business
    • Finance
    • Farming
    • Tech
    • Winning Brands
  • Talk Back
    • Editorial
    • Op-Ed
    • Columnists
  • Politics
    • Parliament
    • Elections
  • Society
    • Entertainment
    • Relationships
    • Travel
  • Sports
  • Impact
    • Investigations
    • Special Reports
  • FACT CHECK
SUBSCRIBE
No Result
View All Result
  • Latest
    • Community
    • News
    • Trends
    • Education
    • Health
    • Africa
    • World
  • Money
    • Business
    • Finance
    • Farming
    • Tech
    • Winning Brands
  • Talk Back
    • Editorial
    • Op-Ed
    • Columnists
  • Politics
    • Parliament
    • Elections
  • Society
    • Entertainment
    • Relationships
    • Travel
  • Sports
  • Impact
    • Investigations
    • Special Reports
  • FACT CHECK
No Result
View All Result
The Kampala Report
No Result
View All Result
Home Money Finance

UBA group expands to EMEA, launches banking operations in DIFC, Dubai

bytheKR TEAM
July 21, 2022
in Finance
Reading Time: 3 mins read
0
United Bank for Africa (UBA) extends its operations to the United Arab Emirates with the official launch of its new branch at the Dubai International Financial Centre (DIFC). (IMAGE: Courtesy | theKR Media)

United Bank for Africa (UBA) extends its operations to the United Arab Emirates with the official launch of its new branch at the Dubai International Financial Centre (DIFC). (IMAGE: Courtesy | theKR Media)

WhatsAppShare on FacebookShare on Twitter

DUBAI: The United Bank for Africa (UBA) has extended its operations to the United Arab Emirates with the official launch of its new branch at the Dubai International Financial Centre (DIFC). UBA Plc (DIFC Branch) will operate under the Category 4 license and will be regulated by the Dubai Financial Services Authority (DFSA), the financial regulatory agency of the special economic zone, the Dubai International Financial Centre.

The UBA branch in the DIFC will service corporate and financial institutions and customers across the Middle East with a core focus on correspondent banking, relationship management and advisory services.

Through this new expansion, the UBA Group will be able to harness opportunities in the Middle East, Africa and South Asia (MEASA), which comprise of 72 countries with an approximate population of 3 billion and a nominal GDP of US$7.7 trillion and thereby, reinforce its strong franchise as Africa’s Global Bank, facilitating trade and capital flows between Africa and the rest of the world.

Speaking during the launch of the new subsidiary in Dubai on Thursday, the Chairman, UBA Group, Tony O. Elumelu, explained that with the Group’s foray into the Gulf Region, UBA continues to focus on its strategic intent to lead the way when it comes to doing business in Africa. He said, “collaborating with our franchises in 20 African countries and the major financial centres of London, New York and Paris, UBA (DIFC Branch) will facilitate the financing of trade transactions between the Middle East and Africa, enabling trade finance and investments”.

RELATED STORIES

United Bank for Africa - Uganda launches the Inaugural National Essay Competition. (IMAGE: Courtesy | theKR Media)

UBA launches inaugural national essay competition

August 20, 2022
164
Maj Gen. David Kasura-Kyomukama, the ministry’s Permanent Secretary, signed the MOU with Elite Agro Deputy CEO and Board Member Dr. Abdulmonem Almarzoogi on April 25, 2022 in Dubai, United Arab Emirates. (IMAGE: Courtesy | theKR Media)

Abu Dhabi-based firm to invest in Uganda’s tea sector

April 27, 2022
196

Pomp, colour as UTB launches Explore Uganda brand in Dubai

April 1, 2022
178
Hon. Kabbyanga Godfrey Baluku, the Minister of State for National Guidance said Business Process Outsourcing (BPO) and Innovation sector’s development is vital for youth employment in Uganda. (IMAGE: Courtesy | theKR Media)

2020 Dubai Expo: BPO & Innovation development vital for youth employment in Uganda, says Minister of State – MoICTNG

March 26, 2022
98

“We have been looking forward to this day as it is the first time we will have presence in this part of the world. We know that our international expansion is incomplete if we are not present in the gulf,” he continued.

UBA’s Group Managing Director/CEO, Kennedy Uzoka, who also spoke at the event said, “today, we are formally on four continents across the globe, operating in 24 countries, serving over 35 million customers and still growing.
“We are the only bank with Nigerian origin that has extended out of Nigeria to the UAE. Those before us have come through other locations and that shows the strength and respect the Dubai authorities have for UBA. Our presence in Dubai affirms that UBA is a strong franchise, expanding its reach across the world,” Uzoka said.

“The authorities and business environment here in the DIFC is phenomenal and UBA is seeing Dubai as the gateway for Africa and that is why we are here, to be closer to our clients, to be partnering with them and facilitate businesses and trade flows into Africa through the UBA franchise. So, we are super excited.’
On his part, the CEO, UBA(DFIC), Vikrant Bhansali, said; “Trade, commerce and Investments in Africa is expanding in the Gulf Region and Asia. Leveraging the presence of UBA Group in global financial centres, UBA (DFIC) will enhance the ability of the group to facilitate access of Gulf investors and banks to African markets. We will finance trade, facilitate commerce and help grow investment in Africa, across all sectors.”

Arif Amiri, Chief Executive Officer, Dubai International Financial Centre (DIFC) Authority, said during the ribbon cutting ceremony, “UBA (DFIC) attests to the strong relationship between Dubai and Africa. It is a beautiful start as we are looking forward to achieving more interaction, channelling more trade and investments into Africa, and with UBA DIFC, we are closer to achieving our objectives. DIFC will continue to seek partnerships that will deliver winning relationships as we have just witnessed with UBA Group.”

Africa’s global bank has been in operation for over seven decades. The bank is a leading Pan-African financial institution, offering banking services to more than thirty-seven million customers across 1,000 business offices and customer touch points in 20 African countries, the United Kingdom, the United States of America and France.

With presence in New York, London and Paris and now the UAE, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.

United Bank for Africa Uganda represents UBA’s pioneer country activities in the East and Southern African sub-region. With 16 branches, 26 ATMs and 190 agents across the country, the bank continues to expand the retail and commercial playing field in Uganda by delivering unique financial products and solutions of UBA group as a strong African brand.

Share this:

  • WhatsApp
  • Tweet

Like this:

Like Loading...
Tags: DubaiDubai International Financial Centre (DIFC)Kennedy UzokaUnited Bank for Africa (UBA)

Do you have a story in your community or an opinion to share with us: Email the editor on  editorial@thekampalareport.com

LATEST UPDATES

  • Manufacturers join forces to resist Alcohol Bill
  • Tayebwa directs for inquiry into Police SACCO
  • Ministers trade barbs over drug stockouts in govt hospitals
  • Man Utd finish off Forest to cruise into League Cup final
  • Messi strikes as PSG moves 5 points clear but Mbappe injured

MOST POPULAR

  • Mr. Pradid Karia, whose family runs city real estate giant -- Property Services Limited. PHOTO/COURTESY

    I’m going nowhere! Property Services chief Karia dismisses Uganda exit rumours

    70 shares
    Share 28 Tweet 18
  • Maureen Tweyongyere: Why we need a New Year 2023 Ideation Hour

    51 shares
    Share 20 Tweet 13
  • EXCLUSIVE! Church starts probe into sodomy claims at King’s College Budo

    49 shares
    Share 20 Tweet 12
  • Mathias Katamba steps down as CEO of dfcu Bank

    35 shares
    Share 14 Tweet 9
  • REVEALED! Why Museveni daughter Diana applied for name change at NIRA

    416 shares
    Share 166 Tweet 104

INVESTIGATION

Student in torture video sentenced to three years in prison

Kafta Queen following arrest last week.
byMIKE OPIO | theKR SPECIAL CORRESPONDENT
January 31, 2023
0
81

Prosecution led by Mr Edward Tweheyo states that Kaftah and others still at large on January 8, at Nsasa in...

Read more

Two Kasese officials remanded on corruption charges

byMIKE OPIO | theKR SPECIAL CORRESPONDENT
January 30, 2023
0
107

The duo are alleged to have irregularly reinstated six teachers who resigned from teaching service and joined politics for 10...

Read more

Pastor arrested over coordinating high profile armed robberies

byMIKE OPIO | theKR SPECIAL CORRESPONDENT
January 30, 2023
0
82

Police arrested Pastor Kaliisa from his home in Katovu Sub County, Lwengo district after he notified the village council leaders...

Read more

Court orders woman to refund Shs10m to man for breach of marriage promise

the judge hammer a judge in court. located on a desk.
byMIKE OPIO | theKR SPECIAL CORRESPONDENT
January 26, 2023
0
198

In her ruling on Wednesday, the Kanungu Grade One Magistrate, Asanansio Mukobi, said that they despite being served, Kyarikunda failed...

Read more

About Us

The Kampala Report is a news media start up, and aims to become the leading news and information source in Uganda. We are known for our accurate, authoritative news content, diversity of opinion and analysis, covering the latest news and events from Uganda’s capital Kampala, the Ugandan countryside and East Africa regional contexts.

Learn more

Recent Stories

  • Manufacturers join forces to resist Alcohol Bill
  • Tayebwa directs for inquiry into Police SACCO
  • Ministers trade barbs over drug stockouts in govt hospitals
  • Man Utd finish off Forest to cruise into League Cup final

Follow Us

Facebook Twitter Instagram

No Result
View All Result
  • Latest
    • Community
    • News
    • Trends
    • Education
    • Health
    • Africa
    • World
  • Money
    • Business
    • Finance
    • Farming
    • Tech
    • Winning Brands
  • Talk Back
    • Editorial
    • Op-Ed
    • Columnists
  • Politics
    • Parliament
    • Elections
  • Society
    • Entertainment
    • Relationships
    • Travel
  • Sports
  • Impact
    • Investigations
    • Special Reports
  • FACT CHECK
%d bloggers like this: