United Bank for Africa (UBA) has signed an agreement to commence full banking operations in France, marking a significant milestone in its global expansion strategy. The deal was formalized during President Bola Tinubu’s state visit to France, with French Finance Minister Antoine Armand and the President of France, Emmanuel Macron, present at the signing ceremony.
The landmark business cooperation agreement was signed by UBA Group Chairman Tony Elumelu, with the support of the French government. Speaking at the event, Elumelu highlighted UBA’s commitment to strengthening connections between Africa, France, and the broader European Union.
“This partnership reinforces our commitment to seamless international banking services for our customers, not just across the 11 Francophone African countries we serve, but Africa as a whole, and French and European customers transacting with Africa,” said Elumelu.
He added, “Expanding into France is a natural progression, with Paris serving as our European Union hub. Paris will join London, New York, and Dubai as a critical component of our unique global network.”
UBA’s entry into the French market will provide enhanced financial services and foster greater collaboration between African and European markets. The expansion is expected to bolster UBA’s position as a leading financial institution, enabling seamless transactions and innovative banking solutions for a diverse customer base across continents.
President Tinubu’s two-day visit to France marks the first official state visit to Paris by a Nigerian leader in over two decades. Both nations are seeking to deepen economic and diplomatic ties, with the UBA-France agreement standing as a testament to the strengthening relationship.
President Macron welcomed Tinubu with a warm gesture, emphasizing cultural connections by sharing a greeting in Nigerian Pidgin English on social media:
“Na big honour for France to welcome you for dis state visit.”
This strategic move underscores UBA’s role as a bridge between Africa and the global economy, paving the way for increased economic cooperation and development.
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