UBA Expands To Burkina Faso

In furtherance of its expansion strategy across the African continent, United Bank for Africa (UBA) Plc has acquired majority stake in the state owned Banque Internationale du Burkina Faso (BIB). The investment in the Burkinabe bank has effectively paved way for the extension of the UBA brand to the West African region and thus brings to 8 the number of African locations for the bank that has become widely known as Africa’s global bank.
Apart from Nigeria, UBA is firmly grounded in Ghana, Liberia, Sierra Leone, Uganda, Cameroon and Liberia whilst its presence in key global financial centers like New York and London, provides it with a platform to  financial solutions to African business globally.
The initial investment in BIB, which has received all approvals by the apex regulatory financial institutions in Burkina Faso, is consistent with the UBA Group’s vision that is driven by the need to establish a strong pan-African presence. "We are delighted with the opportunity to extend our operations to Burkina Faso. BIB is the leading bank in the country and provides a solid platform for the deployment of innovative financial services and products to the people" said Rasheed Olaoluwa, CEO UBA Africa.
BIB was founded in 1974 as BIAO, following restructuring of BIV (Banque International de Voltas) which was changed in 1991 to Meridien BIAO and later operated under strategic partnership with BELGOLAISE. The bank has a very strong legacy as the first bank to commence commercial operations in Burkina Faso and share similar characteristics with UBA. Apart from having the largest ATM network in the country it equally has an extensive branch network with affiliates in the brokerage and leasing businesses. Its array of innovative products include Africard, the first prepaid visa card in Burkina Faso that was launched last year.
The reconstituted BIB Board of Directors has announced the appointment of one of the foremost bankers in the region, Mr. Alphonse Kadjo as the new MD/CEO. Educated at Ecole Superieure de Commerce of Abidjan and Brighton Business School in England, Kadjo with over 19 years experience has worked in several geographies and several institutions including Citigroup. 
UBA’s brand positioning as Africa’s global bank is an effective touchstone that facilitates market acceptance even before consumers have the opportunity to experience its products.  Expectedly this will be brought to bear in Burkina Faso as has been the case in other geographies in Africa where UBA quickly has become one of the key providers of financial services.
United Bank for Africa (UBA) Plc is one of the leading financial services group in Africa providing a full range of solutions and financial services to over six million customers spanning all market segments.  Customers of the bank are able to enjoy walk-in services, through the bank’s expansive retail distribution network of over 700 business offices, as well as remote services through electronic channels.