LAGOS — In recognition of its capability to fund big ticket transactions across the continent, United Bank for Africa Plc, UBA, has emerged the winner of the 2010 Afreximbank Financial Institutions Gold Awards 2010.
The award, instituted by Africa Export-Import Bank (Afreximbank), the African bank for financing and expanding inter African trade, was conferred on the bank at a ceremony held in Cairo, Egypt on December 2, 2010.
The recognition, according to Afreximbank, is on account of UBA’s giant strides in facilitating trade, investments and infrastructural development across Africa, especially in partnership with Afreximbank.
Emeka Echeazu, Divisional Head, International Financial Organizations, United Bank for Africa, UBA, Plc, who received the award on behalf of the bank reiterated UBA’s commitment to boosting intra and inter regional trade in the continent.
According to him “UBA is working with Afrexim to provide approximately US$100m “Clean Trade & Confirmation Lines” to a cross_section of UBA subsidiaries in Africa and UBACAPE, under parent company guarantee”. This he noted will impact on trade finance in the continent positively.
United Bank for Africa Plc is one of Africa’s leading financial institutions offering universal banking to more than 7.5 million customer accounts. Currently operating in 16 African countries and with presence in New York, London and Paris, UBA in line with its positioning as ‘Africa’s global bank’ is able to arbitrage trade flows within the continent and beyond.