The Chairman of the United Bank for Africa UBA, Heirs Holdings and Tony Elumelu Foundation, Mr. Tony Elumelu, is one of the most sought after bankers whose business model has continued to win him respect and recognitions from notable organisations and leaders across the globe.
The solid foundation he left behind at UBA, has been yielding positive results over the years. This was made possible due to the hard work and resilience of the management and staff of the revered Africa’s global bank.
Eumelu has the Army’s Recognition Award, Excellence Award from ECOWAS, CFR National Honour, TIME 100 Impact Award, and many other awards are in his kitty.
For the secret of his outstanding success, Elumelu revealed that luck brought him where he is today. However, he was quick to add that “luck is important but that doesn’t make it a substitute for hard work or labour.”
“Hard work and passion are the two most important ingredients for luck.
“I am where I am today because of luck. Let me be clear, luck is important, but it is not a substitute for hard work or labour. Luck is part of the cocktail that you need for success.
“There are two ingredients for luck – hard work and passion. The more work you put into something and the more passion you apply, the ‘luckier’ you find yourself.
“You have to work hard and be more passionate and committed about what you do, to be successful and make your own luck.
“Hard work and passion are within your power and control, and you should apply them to earn your own luck and to help us foster a better and more prosperous world.”
Industry watchers were not taken aback when the UBA last month set a fabulous record in far away London.
The bank won nine prestigious awards at The Bankers Awards 2023, organised by The Banker Magazine – a publication of Financial Times of London, the world’s leading business newspaper.
UBA, at the event which attracted who-is-who in the financial and banking sector, was presented with the prestigious Bank of the Year Africa 2023, and it also emerged victorious as the Bank of the Year in eight of the 20 countries where it operates in Africa. Namely: UBA Cameroon, UBA Chad, UBA Ghana, UBA Cote d’Ivoire, UBA Mozambique, UBA Republic of Congo, UBA Sierra Leone, and UBA Tanzania. This feat underscores the bank’s dominance and impact across diverse African markets. It is noteworthy that this would be the second time in the past three years that the Bank has won the regional award as the Best Bank in Africa, as it had emerged winner in 2021.
UBA’s Group Managing Director, Oliver Alawuba, who received the awards on behalf of the bank, expressed his gratitude and excitement about the awards, and said the recognitions came as a reassurance that the bank is on track in its goal of consolidating its leadership position in Africa, and creating superior value for its stakeholders.
Alawuba said: “UBA is honoured to be named the Bank of the Year in these eight countries and to receive the overall Award for Africa. This accomplishment is a testament to the hard work, dedication, and innovative spirit of the entire UBA team. We remain committed to delivering top-notch banking services that positively impact the lives of our customers across the continent.
“We have our millions of customers across the globe and our many thousands of staff to thank for this. They are the very reason why we keep winning and receiving these accolades.”
The Banker Awards is widely recognised as a benchmark for banking excellence globally, and UBA’s multiple victories underscore the institution’s commitment to providing exceptional financial services and superior financial intermediation on the continent. As Africa’s Bank of the Year, UBA has demonstrated its ability to navigate the complexities of the African banking landscape and emerge as a leading force in driving economic growth and financial inclusion.
Editor of the Banker, Joy Macknight, said that as always, UBA remains a clear winner across a wide range of criteria, having performed impressively across its footprint with a strong financial performance across most of its markets.
Macknight, who spoke earlier about UBA’s consistent excellence in the financial services sector across the continent, said the bank’s model has earned it great accolades overtime.
“In a year of strong competition among the continent’s major banking groups, UBA has gained the edge on its rivals to win the Bank of the Year award for Africa for the 2nd time in three years. Congratulations. The award recognises the bank’s strength across Africa, including many of its most competitive markets,” Macknight stated.
Since 1926, the Bank of the Year Awards has been celebrating the best of global banking and is regarded as the industry standard for banking excellence.
Just recently, UBA won the 2023 FMDQ Gold Awards in three Categories including the Best FX Liquidity Provider, Dealing Institution of the Year and Best Money Market Liquidity Provider. This recognition is a testament to UBA’s impressive capital strength and capacity to provide liquidity to the Nigerian financial market even in the face of harsh economic realities. Despite the headwinds, UBA Group has consistently maintained its position as Nigeria’s leading financial institution.
The banking group also in June announced impressive half-year financial results, and further increased the performance in Quarter 3, 2023, with profit before tax (PBT) soared to N502.01 billion, Shareholders’ Funds standing strong at N1.778 trillion, and total assets, reaching N16.24 trillion.
These outstanding figures not only reflect UBA’s institutional strength, but also demonstrate its position as a corporate role model in Nigeria and across Africa.
To its credit, UBA today is a leading Pan-African financial institution, offering banking services to more than 35 million customers, across 1,000 business offices and customer touch points in 20 African countries. With presence in New York, London, Paris, and Dubai, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.