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Investment in Africa will boost growth, revenue – UBA

United Bank of Africa has said the bank’s strategic investment and expansion into African and beyond will boost its revenue and translate into robust dividend payout to shareholders.

The new Group Managing Director, UBA, Oliver Alawuba, stated this at the banks closing gong ceremony on the floor of the Nigerian Exchange Limited.

He said the bank was well positioned to leverage its increased visibility and Pan African features to increase shareholders’ value on a consistent basis.

Alawuba said, “We are expanding our services beyond Africa, bringing in capital inflow and investment into Nigeria and Africa. Africa constitutes over 50 per cent of our revenue and we will do more.

“We will pay more dividend and grow our capital base. The bank has a future and we will continue to ensure that the shares of UBA continue to grow.”

The Chief Executive Officer, NGX, Mr Temi Popoola, congratulated  Alawuba on his recent appointment as the group managing director/chief executive officer of UBA, and noted his illustrious career, having acquired over 25 years of work experience in the banking industry.

He encouraged UBA and other private issuers to utilise the NGX platform in meeting future financing needs to support their business expansion in line with their overall corporate strategy.

He emphasised on the digital strategy of the Exchange and its commitment to leveraging technology to drive retail participation and increase liquidity in the market.

The chairman, NGX Real Estate, Angela Adebayo, while congratulating the new team of UBA, said Alawuba’s commitment in the financial service sector over the last two decades had brought about great transformation on the economy.

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