UBA Accelerates Capital Raise, Eyes Expansion into France Amid Regulatory Push

United Bank for Africa (UBA) Plc is moving decisively to strengthen its financial foundation and broaden its international footprint. The Nigerian banking giant announced plans to raise an additional ₦144.8 billion ($90.2 million) this year to meet the Central Bank of Nigeria’s (CBN) new capital requirements and fuel its expansion ambitions into France.

This capital drive comes on the heels of a successful ₦240 billion rights issue, positioning UBA well on its way toward achieving the ₦500 billion minimum capital threshold set by the apex bank. According to UBA Group Chief Executive Officer Oliver Alawuba, the new capital will not only solidify the bank’s domestic standing but also support its growing presence across key global markets.

“We are committed to strengthening our capital base to support sustainable growth and expansion,” Alawuba stated in an emailed note.

Regulatory Winds Shaping Nigeria’s Banking Sector

Earlier this year, the Central Bank of Nigeria introduced sweeping reforms mandating higher capital bases for commercial banks. The policy shift aims to bolster financial system stability and ensure that Nigerian banks are resilient enough to weather both domestic and global economic shocks.

UBA’s strategic capital mobilization aligns with the broader industry movement as lenders gear up to meet the new benchmarks. However, UBA stands out for pairing its compliance efforts with an aggressive international expansion strategy—targeting France as a key market.

UBA’s Bold International Agenda

UBA’s planned entry into France underscores its vision of becoming a truly pan-African bank with a global presence. The bank currently operates in 20 African countries and maintains international offices in New York, London, and Paris. The new French subsidiary is expected to deepen UBA’s participation in the Europe-Africa trade corridor and provide more opportunities for cross-border financial services.

Industry analysts view UBA’s dual-track approach—capital strengthening and global expansion—as a forward-looking play that could position the lender among Africa’s elite financial institutions.