The United Bank for Africa (UBA) has announced plans to begin its banking operations in France, according to a statement released by the bank’s group on Thursday.
The move follows an agreement signed with France’s Finance Minister, Antoine Armand, during President Bola Tinubu’s official visit to France. UBA Group Chairman Tony Elumelu, along with President Tinubu and French President Emmanuel Macron, finalized the deal, marking the French government’s support for UBA’s expansion.
Elumelu stated that the bank’s entry into France is a natural step in its growth strategy, with Paris set to become UBA’s European Hub.
He stated, “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.
“Expanding into France is a natural progression, withParis serving as our European Union hub as we continue to bring Africa and the world together through innovative financial solutions. Paris will join London, New York, and Dubai as a critical component of our unique global network.”