UBA Unveils Innovative Cross-Border Payment Solutions to Propel Intra-Africa Trade at Lagos International Trade Fair

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Mr. Oliver Alawuba, the Group Managing Director/CEO of the United Bank for Africa (UBA),
In a strategic move aimed at fostering economic integration across the African continent, Mr. Oliver Alawuba, the Group Managing Director/CEO of the United Bank for Africa (UBA), revealed the deployment of cutting-edge cross-border payment solutions during the ongoing 2023 Lagos International Trade Fair. 
The announcement comes as a pivotal step towards addressing the challenges hindering seamless trade within Africa. The innovative payment solutions presented by UBA promise to simplify transactions, reduce costs, and enhance efficiency for businesses engaged in cross-border trade.
Mr. Alawuba was ably represented by Mayuwa Akinyemi, the Deputy Group  Managing Director at UBA, emphasized the significance of fostering intra-Africa trade for sustainable economic growth. The new payment solutions leverage advanced technologies to overcome traditional barriers, facilitating faster and more secure transactions between countries, he said.
UBA’s initiative aligns with broader efforts by African nations to boost economic cooperation and reduce dependency on external markets. Alawuba further noted that the unveiling at the Lagos International Trade Fair signifies the bank’s commitment to playing a central role in driving the economic transformation of the continent.
The cross-border payment solutions presented by UBA not only aim to enhance financial inclusivity but also contribute to the realization of the African Continental Free Trade Area (AfCFTA) objectives. By fostering a conducive environment for businesses to transact seamlessly across borders, these innovations are poised to catalyze growth and development in diverse sectors, he stressed.
As Africa’s economic landscape evolves, Alawuba pointed out that UBA’s proactive approach in introducing transformative financial solutions positions the bank as a key player in shaping the future of intra-Africa trade. The UBA CEO reiterated that the unveiling at the Lagos International Trade Fair serves as a testament to UBA’s commitment to driving financial inclusion and economic development across the continent.

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