The United Bank for Africa (UBA) is set to launch banking operations in France, as announced in a statement by the bank’s group on Thursday.

The move follows an agreement signed between UBA and French Finance Minister Antoine Armand, which took place during President Bola Tinubu’s state visit to France. The agreement was formalized in a ceremony attended by UBA Group Chairman Tony Elumelu, President Tinubu, and French President Emmanuel Macron, marking the French government’s support for UBA’s expansion into the French market.

Elumelu emphasized that this expansion into France is a natural step in UBA’s growth strategy, with Paris designated as the bank’s European hub. He explained, “This partnership strengthens our commitment to providing seamless international banking services, not only to the 11 Francophone African countries we serve but also to French and European customers engaged in transactions with Africa.”

He further stated, “Expanding into France is a logical next step, with Paris serving as our European Union hub. This expansion will complement our existing network in London, New York, and Dubai, further connecting Africa with the world through innovative financial solutions.”