The United Bank for Africa (UBA) has announced plans to open a new office in Saudi Arabia, marking a significant step in its strategic global expansion and reinforcing its mission to connect Africa with major international markets.
The announcement was made during the Group’s Half-Year Business Review at its global headquarters in Lagos, where Group Managing Director/CEO, Oliver Alawuba, met with senior executives from UBA’s operations across 24 countries. The meeting reaffirmed the bank’s pan-African growth strategy while unveiling ambitious plans for further global outreach.
Alawuba highlighted that over 51.7% of UBA’s Group revenue now comes from operations outside Nigeria, a testament to its growing international footprint. He described the Saudi Arabia expansion as a pivotal move to deepen cross-border trade, facilitate investment, and better serve Africa’s diaspora communities in the Middle East.
“UBA’s vision is clear—we are building a truly global institution anchored in Africa but serving customers across continents. Our entry into Saudi Arabia reflects our confidence in new opportunities and our commitment to fostering economic links between Africa and the Middle East,” Alawuba said.
The Saudi office adds to UBA’s established presence in key global financial hubs, including the United Kingdom, United States, France, and the United Arab Emirates. Alawuba also revealed that the bank is in the process of upgrading its operating licence in France to further strengthen its European capabilities.
“In Europe, UBA operates in the UK and is enhancing its licence in France to boost our ability to support trade, investment flows, and the African diaspora—complementing our over 40-year presence in New York,” he added.
UBA began its pan-African expansion in 2004 with an entry into Ghana and has since grown its footprint to 20 African countries. The bank has become a key player in driving financial inclusion, innovation, and regional integration across the continent.
With its forthcoming office in Saudi Arabia and continued global outreach, UBA is positioning itself as a central force in Africa’s economic transformation—delivering financial solutions that promote inclusive growth and international competitiveness.
