United Bank for Africa Set to Operate in Saudi Arabia

United Bank for Africa Group is set to open its first presence in Saudi Arabia early next year, pending regulatory approval from the Kingdom, according to its chairman

Speaking to Arab News at the FII New Africa Summit in Riyadh, Tony Elumelu highlighted that they are exploring business opportunities within the Kingdom.

UBA operates 24 branches across multiple continents and countries, including the US, Europe, and Dubai, but establishing a presence in Saudi Arabia will further consolidate economic ties between the Kingdom and Africa.

The chairman underlined that this is an opportune time for the private sector to foster more robust trade and stronger investment ties between the Kingdom and Africa.

The frequent visits and business delegations between Saudi Arabia and the continent demonstrates a strong commitment to strengthening these connections.