UBA’s Commitment to Compliance and Growth in Ghana
A Strong Commitment to Governance
In a recent exclusive discussion with JOYBUSINESS in Washington, D.C., Oliver Alawuba, the Group Chief Executive of United Bank for Africa (UBA), conveyed the bank’s unwavering dedication to upholding the highest standards of governance and regulatory compliance across all its markets. This commitment has only been reinforced following the Bank of Ghana’s recent decision to lift UBA Ghana Limited’s Foreign Exchange trading license suspension, effective October 19, 2025.
The Context of the License Suspension
On September 4, 2025, UBA Ghana faced a one-month suspension of its forex license due to alleged violations of multiple foreign exchange market regulations. This included breaches outlined in the Updated Guidelines for Inward Remittance Services by Payment Service Providers, 2023. The suspension had significant ramifications, disrupting all remittance partnerships between UBA Ghana and various financial entities. However, as of October 17, 2025, the Central Bank recognized UBA’s adherence to remedial measures during this suspension period, leading to the re-issuance of its trading license.
Upholding Compliance in Regulated Markets
Mr. Alawuba elaborated on UBA’s rigorous approach to regulatory compliance, emphasizing the importance of operating in one of the world’s most regulated environments—the United States. “UBA is one of the few African banks with a presence there, which should instill confidence in our clients worldwide,” he stated. His remarks underline UBA’s commitment to adhering to stringent regulations, further solidifying its reputation as a reliable institution.
The Role of Professionalism and Financial Resilience
Beyond compliance, Mr. Alawuba reiterated the bank’s broader principles of professionalism and financial strength. He expressed UBA’s dedication to building a resilient financial framework, ensuring that the bank remains agile and responsive to the demands of the markets it serves. Such resilience is crucial for navigating challenges while pursuing sustainable growth in a dynamic global landscape.
Expanding Horizons in Ghana
During his conversation, Mr. Alawuba revealed UBA’s strategic plans for expanding its operations within Ghana. As the bank aims to bolster its presence, it will also actively engage in supporting the nation’s digitalization efforts. He expressed a desire for UBA to play an influential role in enhancing service delivery across the country.
Supporting Small and Medium Enterprises (SMEs)
In line with its expansion efforts, UBA is also committed to empowering small and medium-sized enterprises (SMEs). Mr. Alawuba emphasized the bank’s goal of facilitating growth within this vital sector by linking Ghanaian businesses to global markets. This commitment aligns with UBA’s overarching objective of fostering economic development and creating new opportunities.
Conclusion
With a clear vision for the future and a steadfast commitment to compliance and professional standards, UBA continues to position itself as a leading player in the banking sector, particularly in Ghana. The bank’s proactive approach to regulatory adherence and its focus on supporting local enterprises highlight its pivotal role in Nigeria and beyond. This dedication not only reassures clients but also enhances the potential for robust economic growth in the regions it serves.