UBA launches new platform for Nigerians abroad

By Oluwapelumi Olusanjo

Africa’s Global Bank, United Bank for Africa Plc, has launched a new diaspora banking and investment platform aimed at serving Africans living and working abroad as well as those within the continent.

The platform was unveiled at the bank’s global headquarters, UBA House, Marina, Lagos, during a panel session themed “Beyond Banking: Powering the Global African Lifestyle.”

zxThe initiative is designed to move diaspora engagement beyond traditional remittances to structured wealth creation and long-term investment.

According to UBA, the platform was developed in collaboration with key ecosystem partners including United Capital Plc, Africa Prudential Plc, Heirs Insurance Group, Afriland Properties Plc, UBA Pensions Custodian Limited, and Avon Healthcare Limited. The partners are expected to provide services ranging from banking and payments to insurance, pensions, real estate investment, and asset management.

Speaking at the unveiling, Head of Diaspora Banking at UBA, Anant Rao, described the initiative as a strategic shift in how Africa engages its citizens abroad.

“For decades, Africa’s engagement with its diaspora has focused largely on remittances. Today, we are moving beyond that. This platform represents a transition from simple money transfers to a financial ecosystem where Africans globally can bank, make payments, invest, protect their families, and build long-term wealth seamlessly,” he said.

Rao noted that African diaspora remittances exceed $100 billion annually, describing diaspora capital as a major growth partner for the continent. He added that the bank’s objective is to convert these inflows into structured investments and shared prosperity across Africa.

UBA’s Group Head of Marketing and Corporate Communications, Alero Ladipo, also highlighted the importance of maintaining a strong economic connection between Africans abroad and their home countries.

“The modern African is a global citizen — mobile, ambitious, and deeply connected to home. Whether living in Africa, Europe, the Americas, or the Middle East, there must be a structured and secure financial connection back home. This platform ensures that Africans everywhere can remain economically connected to the continent with confidence and transparency,” she said.

Through the coordinated ecosystem, diaspora customers will be able to access banking, payments, investments, securities services, insurance protection, pension savings, and real estate opportunities from a single platform, enabling them to manage finances and family commitments across borders.

During the event, partners showcased investment products, structured property ownership pathways, healthcare coverage, and long-term savings solutions designed to encourage diaspora participation in African capital markets.

Rao further reiterated the philosophy of Africapitalism championed by UBA Founder and Chairman, Tony O. Elumelu, which advocates long-term private sector investment as a driver of economic growth and social impact across Africa.

He expressed confidence that mobilising diaspora capital through trusted financial institutions will play a central role in financing Africa’s next phase of development.

“Africa will increasingly be financed by Africans themselves, including Africans abroad. Our responsibility is to build the trusted financial infrastructure that makes this possible,” he said.