- The role of the DFIC office will be to support its corporate customers in Dubai and greater Asia and act as a liaison for African companies exploring business as well as firms setting shop in Africa.
- Currently, UBA groups have a presence in 20 African countries.
Pan-African bank UBA Group has opened a new branch at the Dubai International Financial Centre (DIFC). The role of the DFIC office will be to support its corporate customers in Dubai and greater Asia and act as a liaison for African companies exploring business as well as firms setting shop in Africa. Currently, UBA groups have a presence in 20 African countries. The opening of the new centre in Dubai bears testimony to the long-term growth potential of trade deals between the Middle East and Africa. It also comes at a time when major global corporations are viewing Africa for investment. Other than Dubai, it has its global presence in London, New York and Paris.
The new centre will serve corporate and financial institutions and customers across the Middle East and focus on correspondent banking, relationship management and advisory services and will operate under the Category Four licence regulated by the Dubai Financial Services Authority (DFSA). Companies under the Category Four licence can arrange investments and financial deals as well as advance and advise on credit. The Group’s managing director and CEO Kennedy Uzoka said that the company viewed Dubai as a gateway to Africa.
Also read
