2025: UBA continues with culture of wealth democratisation 

L-R: Awele Elumelu, Co-Founder, Tony Elumelu Foundation (TEF); Tony Elumelu, Founder, Tony Elumelu Foundation, and Somachi Chris-Asoluka, CEO, Tony Elumelu Foundation, at the unveiling of 3,000 beneficiaries of the 2025 cohort of the TEF Programme, held at the Transcorp Hilton, Abuja in March 2025.

Beyond the core business of banking, the United Bank for Africa (UBA) has, over the years, engaged in democratisation of wealth across the African continent. In its humanistic attribute of doing good, the bank does not leave out any gender. It also takes care of all categories of people- the old and young; children, teenagers, youths and adults. Several programmes have been birthed to take care of each category.

In keeping with the age-long aphorism,  “charity begins at home,” the Africa’s Global Bank continued with the celebration of its global staff which began in 2024 as part of the activities to commemorate its 75 years anniversary bash.

During the celebrations, the bank gave every staff a sense of belonging. Pictures of every one of the staff, globally, was captured and displayed at the bank’s headquarters in Marina, Lagos.

At that event, it unveiled UBA Time Capsule and Tribe Photo Wall, a part of the year-long activities to celebrate 75th anniversary of UBA.

The occasion also afforded the management of the bank the opportunity to celebrate the founders and their customers.

Oliver Alawuba, group managing director/chief executive officer, UBA, celebrated the staff, thus: “There is no UBA without you. Wherever you are, we see you and we know that you count and that’s why we have gathered all the pictures to celebrate you because we are proud of you all for your contributions and all the sacrifices you have made for UBA. Today, we want to tell you by this occasion that you are part of UBA and you will remain part of UBA.”

He also envisioned that the bank would grow its balance sheet to $20trn in next 75 years.

Customers in UBA’s plan

In January, the bank launched the ‘UBA Bumper Account’, a hybrid account, targeted at transforming the lives of its customers. The new account was in line with the bank’s mission of creating superior value for its stakeholders while encouraging saving cultures among Nigerians.

​​​​​​​The account was said to have been carefully crafted to improve the lives of the UBA customers. It was aimed to offer account holders an opportunity to win cash prizes of up to N2 million.

In August this year, UBA unveiled its “Super Savers Promo” (Season 5), which runs from September 1, 2025, to May 31, 2026, and offers a total of ₦150 million in cash and airtime prizes. The promo aimed to encourage financial inclusion and savings by rewarding both new and existing customers who save in various account types. Prizes include quarterly star prizes of ₦1 million, other quarterly cash prizes, monthly airtime rewards, and special draws for specific account holders like NextGen, Kiddies, and Teens.

Special loan facility

In August, UBA secured a N5 billion loan facility from the Bank of Industry (BOI) to boost key sectors of the economy and support the growth of sustainable and viable businesses in the country, especially the Micro, Small, and Medium Enterprises (MSMEs).

The facility disbursed through the Federal Government’s MSME Fund was designed to stimulate key sectors of the economy while offering affordable financing to support businesses, with a primary focus on green energy, education, healthcare, and women-owned enterprises.

The Group Managing Director/CEO, Oliver Alawuba, who spoke about the facility, emphasised the bank’s commitment to fostering economic growth by empowering MSMEs, which he described as the “livewire of any developing economy.

He said, “At UBA, we recognise the pivotal role MSMEs play in driving economic development, and how they make up a sizeable portion of what drives our economic growth. It is in this vein that we have decided not to rest on our oars by facilitating initiatives dedicated to empowering businesses with the financial support they need to thrive.”

Alawuba maintained that, “By offering loans at a competitive 9 percent interest rate with a three-year tenor, we are removing the traditional barriers that hinder SME growth in Nigeria and Africa. And by this, our message to business owners is simple: Don’t let this once-in-a-lifetime opportunity elude you.”

Lagos International Trade Fair sponsorship

In November, the bank launched a special draw for its customers as it headline-sponsored the Lagos International Trade Fair for the seventh consecutive year.

In a statement announcing this, the bank said its sponsorship of the annual trade fair was in line with its commitment to supporting the growth of small and medium-scale businesses for global impact.

The Lagos International Trade Fair is annually organised by the Lagos Chamber of Commerce and Industry. This year’s edition at the Tafawa Balewa Square, Onikan, Lagos, attracted thousands of exhibitors, investors, and visitors from across Nigeria and beyond. It also said that the special draw was initiated in line with its customer-first philosophy.

Scholarship and educational empowerment

Recently, the bank splashed a lot of money and other forms of accolades on winners of 15th UBA Foundation Essay Competition to promote academic excellence. The overall lucky winner was Ebunoluwa Seth Oluwatimelehin, a 13-year-old student of Igando Community Senior High School, Igando, Lagos. He was also the youngest winner in the competition’s 15-year history. Master Ebunoluwa clinched the grand prize of N10 million educational grant to be used for his future studies at any African higher institution of his choice.

Njoku-Kelechi Emerald of Christian International High School, Owerri, clinched the second-place received a N7.5 million educational grant, while the third-place prize of N5 million educational grant was awarded to Bayero Fatima Auwal of Cornerstone Montessori Schools, Gudu, Abuja.

In addition to the monetary grants for the top three winners, all 12 finalists were awarded brand-new laptops and other educational materials to support their academic pursuits.

The competition came under the UBA Foundation which has a long-standing tradition of philanthropy, with numerous initiatives across Africa aimed at empowering the underprivileged, from educational scholarships and initiatives to healthcare interventions and poverty alleviation programmes.

Second cohort of IYBA-WE4A programme

In October this year, the European Union (EU), Organisation of African, Caribbean and Pacific States (OACPS), German Federal Ministry for Economic Cooperation and Development (BMZ), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), and the Tony Elumelu Foundation (TEF) Today announced the launch of the second cohort of the Investing in Young Businesses in Africa – Women Entrepreneurship for Africa (IYBA-WE4A) Programme.

Following the successful implementation of the first cohort, which empowered 751 African women-led green businesses with USD$3.99 million in funding, the partners, this year, scaled up their impact to support more than 1,000 African women entrepreneurs pioneering innovative solutions across critical green sectors.

Applications opened 6 October 2025, to close on 25 January 2026. Successful applicants will receive USD $5,000 seed capital, tailored business management training, a customised green curriculum, mentorship, and lifetime access to TEFConnect for sustained growth and investment readiness. Target sectors include sustainable agriculture, blue economy, renewable energy, circular economy, eco-tourism, construction, and logistics.

GMAP

This year also, the bank continued to make a significant impact in birthing the next generation of banking and finance professionals on the continent through its Graduate Management Acceleration Programme (GMAP) which, to date, has produced over 3,222 young professionals across Africa. In its Class of 2025, over one thousand trainees from across Africa were graduated.

In continuing with the youth empowerment which has spanned several years, the bank has also continued to dole out huge sums of money as ‘seed money” to deserving young entrepreneurs.

Tony Elumelu Foundation touching lives

On March 22, 2025, the Tony Elumelu Foundation (TEF), Africa’s leading philanthropy empowering entrepreneurs, announced 3,000 African entrepreneurs drawn from across Africa to join the 11th cohort of the TEF Entrepreneurship Programme; driving poverty alleviation, catalysing job creation, and ensuring inclusive economic empowerment.

The newly-selected cohort joined the TEF’s network of over 24,000 African entrepreneurs who have been funded, trained and mentored since 2015. The Foundation embodies the concept of Africapitalism: Tony Elumelu’s economic belief that African entrepreneurs are the key drivers of the continent’s economic transformation.

Back in 2015 when it was launched, TEF had the goal of empowering 10,000 entrepreneurs. But in 2025, the number has ballooned to 24,000.

Since the launch of the TEF’s Entrepreneurship Programme, it has lifted over 2 million Africans out of poverty, provided 2.5 million young Africans with access to training on TEFConnect, and disbursed well over $100 million in direct funding to thousands of African entrepreneurs who have gone on to create over 5 million direct and indirect jobs and generate over $4.2 billion in revenue.

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