United Bank for Africa (UBA) has signed a deal to commence full banking operations in France.
In a statement issued late Thursday, the banking company said the major commercial partnership deal with French Finance Minister Antoine Armand was part of President Bola Tinubu’s state visit to France.
During the visit, Tony Elumelu, Chairman of UBA Group, signed an agreement in the presence of Tinubu and France’s President, Emmanuel Macron, indicating the French Government’s support for the expansion of UBA’s banking operations in France.
Speaking at the signing ceremony, Elumelu said, “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 deal, UBA joins Nigeria’s tier-1 banks and maintains a financial presence in France.
Tinubu landed in France on Thursday for a two-day state visit, with both sides hoping to strengthen commercial and diplomatic ties. It is a Nigerian leader’s first official state visit to Paris in more than 20 years.
Macron greeted his opponent in Nigerian Pidgin English, emphasising their shared cultural background.
“Na big honour for France to welcome you for our state visit,” he posted on social media.
