United Bank for Africa has signed an agreement to start full banking operations in France, marking a significant step in its global expansion.
The announcement came on Thursday as part of President Bola Tinubu’s state visit to France. UBA Group Chairman, Tony Elumelu, signed the business cooperation deal with French Finance Minister Antoine Armand in the presence of Tinubu and French President Emmanuel Macron.
Speaking at the signing, Elumelu highlighted the importance of the partnership, saying, “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, with Paris 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.”
With this move, UBA becomes one of Nigeria’s top-tier banks to establish a banking presence in France.
The agreement is seen as part of efforts to deepen economic and diplomatic ties between Nigeria and France during Tinubu’s historic two-day state visit, the first by a Nigerian leader in over 20 years.
Macron warmly welcomed Tinubu with a touch of Nigerian Pidgin English, sharing on social media, “Na big honour for France to welcome you for dis state visit.”
Both leaders aim to strengthen cooperation, focusing on boosting trade and investment between thetwo countries.
