United Bank of Africa (UBA) Plc has assured of the bank’s strategic investment and expansion into African and beyond would boost its revenue, as well as translate into robust dividend payout to shareholders.
The new group managing director of UBA, Oliver Alawuba stated this at the Bank closing gong ceremony on the floor of the Nigerian Exchange (NGX) Limited.
He said, the bank is well positioned to leverage its increased visibility and pan African features to increase shareholders’ value on a consistent basis.
According to him, we are expanding our services beyond Africa, bringing in capital inflow and investment into Nigeria and Africa. Africa constitute over 50 per cent of our revenue and we will do more.
“We will pay more dividend and grow our capital base. The bank has a future and we will continue to ensure that the shares of UBA continue to grow,” he said.
The CEO of NGX, Mr. Temi Popoola congratulated Alawuba on his recent appointment as the group managing director/chief executive officer of UBA, applauding Alawuba on his illustrious career, having acquired over 25 years of work experience in the banking industry.
He encouraged UBA and other private issuers alike to utilise the NGX platform in meeting future financing needs to support their business expansion in line with their overall corporate strategy.
He emphasised on the digital strategy of the Exchange and its commitment to leveraging technology to drive retail participation and increase liquidity in the market.
He said the successful introduction of the first digital offer platform attracted a large amount of retail participation, encouraging UBA to take advantage of the digital platform for future equity capital formations and to broaden its shareholding structure.
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