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Report: United Bank for Africa seeks to expand on continent

Nigeria-based United Bank for Africa Plc seeks to expand its bankingservices to cover more countries in Africa, ThisDay Live reported May 4, citing Chairman Tony Elumelu.

Fogan Sossah, chairman of UBA Senegal SA, said: "Wemust ensure that we have presence in at least 25 countries in the near tomedium term." The group has a presence in 18 African countries as well asin London, Paris and New York.

The lender also plans to boost capital levels at its unitsin Kenya, Tanzania and Uganda, according to the report.