By Precious D. Freeman
The African Development Bank (AfDB), led by its president Akinwumi Adesina, has concluded a high-level bilateral meeting with the United Bank for Africa (UBA) United Kingdom office, solidifying a robust partnership aimed at enhancing Africa’s global financial footprint and economic sustainability.
Over the weekend, Adesina paid a courtesy visit to UBA UK’s headquarters, commending the bank for its consistent role in supporting the continent’s development.
He emphasized the importance of strategic collaborations in unlocking Africa’s potential, particularly in areas such as financial services, digital economic growth, and sustainability initiatives.
“Strong partnerships like the one we have with UBA are crucial for advancing Africa’s economic growth,” said Adesina. “UBA plays a critical role in bridging global capital with African opportunities, helping to ensure that the continent’s financial systems remain resilient and globally competitive.”
Reflecting on the longstanding relationship between the two institutions, Adesina noted that the partnership dates back over two decades, beginning with a US$30 million line of credit in 2000.
Over the years, this support has grown significantly, with AfDB approving US$175 million in recent funding—comprising US$100 million in senior debt, US$50 million in trade finance, and US$25 million for risk participation.
“Your Group Chairman, Tony Elumelu, is not only a friend but also a distinguished African leader who understands the power of capital in driving institutional and economic development,” Adesina added.
UBA UK, a wholly-owned subsidiary of UBA Plc and authorized by the Prudential Regulation Authority (PRA), is a key player in facilitating trade and capital flows between international markets and Africa.
Positioned as the only African bank of its scale operating in the UK, UBA UK specializes in correspondent banking services, supporting financial institutions, corporates, and governments seeking an experienced partner with deep African market knowledge.
Theresa Henshaw, CEO of UBA UK, welcomed the AfDB delegation, highlighting the bank’s global footprint across four continents and reaffirming its commitment to Africa’s economic progress.
“UBA remains the only African bank offering correspondent banking services at this level, especially as several international banks have exited the African market,” Henshaw said.
“Our mission is to ensure African businesses and governments maintain access to global financial networks and investment flows.”
With over 25,000 employees and more than 45 million customers globally, UBA operates in 20 African countries and major international financial hubs, including the United Kingdom, United States, France, and the United Arab Emirates.
The renewed collaboration between AfDB and UBA signals a shared commitment to accelerating Africa’s economic integration and promoting sustainable development through innovative financial solutions and strategic partnerships.
AfDB, UBA UK Deepen Strategic Alliance On Africa’s Global Financial Expansion
