United Bank for Africa (UBA) Plc has unveiled a diaspora banking and investment platform designed to serve Africans living and working across the globe, aiming to transform remittance flows into structured wealth creation and long-term investment.
The platform was launched at UBA’s global headquarters in Lagos under the theme: “Beyond Banking: Powering the Global African Lifestyle,” in collaboration with ecosystem partners including United Capital, Africa Prudential, UBA Pensions, Afriland Properties, Heirs Insurance Group, and Avon Healthcare Limited.
Speaking at the event, UBA Head of Diaspora Banking, Anant Rao, described the initiative as a strategic shift in Africa’s engagement with its global citizens.
“For decades, Africa’s engagement with its diaspora has focused largely on remittances. Today, we are moving beyond that. This platform represents a transition from simple money transfers to a financial ecosystem where Africans globally can bank, make payments, invest, protect their families, and build long-term wealth seamlessly,” Rao said.
He noted that diaspora remittance flows exceed $100 billion annually, highlighting the potential of this capital as a strategic growth partner for Africa. The platform is designed to provide solutions across banking, payments, investments, securities, asset management, insurance, pensions, and real estate, enabling diaspora Africans to manage finances and family commitments across borders with ease.
UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, emphasised the importance of collaboration in delivering a seamless diaspora experience.
“The modern African is a global citizen, mobile, ambitious, and deeply connected to home. This platform ensures Africans everywhere can remain economically connected to the continent with confidence and transparency,” she said.
- Partner organisations showcased their contributions to the ecosystem:
- United Capital – Globally accessible, professionally managed investment products
- Afriland Properties – Structured and well-governed real estate investments
- Heirs Insurance – Life and asset protection solutions
- Avon Healthcare Limited – Healthcare access and insurance for families abroad
- Africa Prudential & UBA Pensions – Digital investment management and long-term pension solutions
Rao also highlighted the philosophy of Africapitalism, championed by UBA Founder and Chairman Tony Elumelu, stressing that Africa’s private sector must drive development by making long-term investments with both economic and social impact.
“As Africa continues to position itself as one of the world’s most dynamic growth frontiers, mobilising diaspora capital through trusted financial institutions will be central to shaping the continent’s next phase of development,” Rao concluded.
