UBA Breaks New Ground, Launches Office in Saudi Arabia

United Bank for Africa (UBA) will open a new office in Saudi Arabia as part of its global expansion strategy.

The announcement came during the bank’s Half-Year Business Review held at its Lagos headquarters.

Group Managing Director and CEO, Oliver Alawuba, disclosed the move while addressing senior executives across UBA’s 24-country footprint.

Alawuba said UBA’s expansion reflects a clear strategy to connect Africa to global economic centers. He confirmed that more than 51.7% of UBA’s group revenues now come from outside Nigeria.

He emphasized that Saudi Arabia is a key market for UBA’s international ambitions.

The new office aims to boost cross-border trade, attract Middle Eastern investments, and serve the growing African diaspora.

“Our goal is to build a truly global bank rooted in Africa,” Alawuba said. “Saudi Arabia offers major strategic advantages.”

UBA currently operates in major global financial hubs, including the United Kingdom, United States, United Arab Emirates, and France.

Alawuba also revealed that UBA is upgrading its banking licence in France. The upgrade will enable the bank to handle more European trade and financial transactions.

In his words, “We are strengthening our European capacity and deepening financial linkages between Africa and Europe.”

UBA’s expansion into Saudi Arabia builds on its earlier move to launch a branch in Dubai in 2022. The Dubai office currently serves African businesses and investors operating in the Gulf region.

Since entering Ghana in 2004, UBA has grown rapidly across Africa. The bank now operates in 20 African countries.

Alawuba said UBA’s mission includes promoting financial inclusion, digital innovation, and economic integration across the continent.

He stressed the importance of positioning UBA as a facilitator of Africa’s global economic presence.

He added, “This move is not just about market share. It’s about creating long-term value for Africans everywhere.”

With this latest expansion, UBA is reinforcing its position as a top-tier African financial powerhouse.

The bank continues to pursue its vision of becoming the preferred financial partner for African businesses at home and abroad.

For Diaspora Digital Media Updates click on Whatsapp, or Telegram. For eyewitness accounts/ reports/ articles, write to: citizenreports@diasporadigitalmedia.com. Follow us on X (Fomerly Twitter) or Facebook