UBA Launches Diaspora Investment Platform to Unlock $100 Billion African Capital
- UBA has launched a new diaspora investment platform to help Africans living abroad move beyond remittances and build long-term wealth
- The platform, developed with other partners, offers services including banking, investments, pensions, insurance, and real estate in one ecosystem
- UBA executives said the initiative aims to turn over $100 billion in annual diaspora remittances into structured investments that drive Africa’s growth
Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has launched a new diaspora banking and investment platform to support Africans living and working both abroad and within Africa.
The platform was unveiled at UBA’s global headquarters in Lagos. It was developed in partnership with United Capital, Africa Prudential, UBA Pensions, Afriland Properties, Heirs Insurance Group, and Avon Healthcare Limited.
Source: UGC
The goal is to help Africans in the diaspora move beyond just sending money home to building wealth, investing, and planning for the future.
The launch event, themed “Beyond Banking: Powering the Global African Lifestyle,” showcased a digital platform that combines banking, payments, investments, insurance, pensions, healthcare, and real estate in one place.
Moving beyond remittances to long-term wealth
Speaking at the event, UBA’s Head of Diaspora Banking, Anant Rao, stated that the platform marks a significant shift in how Africa connects with its citizens abroad. He explained that while remittances have long been the main link, the new focus is on helping Africans invest, protect their families, and grow long-term wealth.
Rao said:
“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 noted that Africans in the diaspora send over $100 billion home every year, making them a strong source of capital for the continent. According to him, this money should not just be transferred, but properly invested to support Africa’s growth.
The platform allows users to access banking services, make payments, invest in assets, manage pensions, buy insurance, and invest in real estate through one trusted system. This makes it easier for diaspora Africans to manage their finances and support their families across borders.
UBA’s Group Head of Marketing and Corporate Communications, Alero Ladipo, said the modern African is a global citizen who still wants a secure financial link to home. She explained that the platform gives Africans abroad confidence, transparency, and a safe way to stay economically connected to Africa.
Partner organisations also highlighted the growing demand for structured investments, secure property ownership, insurance, healthcare, and long-term financial planning among Africans living overseas.
Source: UGC
Rao also spoke about Africapitalism, a philosophy promoted by UBA’s Founder and Chairman, Tony O. Elumelu. He explained that Africapitalism encourages private businesses to invest in Africa in ways that create profit while also improving society.
UBA believes that Africa’s future growth will be driven by Africans themselves, including those living abroad. By providing trusted financial platforms, the bank aims to turn diaspora investments into lasting development across the continent.
UBA supports women-owned businesses with N5bn
In related news, Legit.ng earlier reported that the Bank of Industry (BOI) has provided a N5 billion loan facility to UBA to support the growth of women-owned micro, small, and medium-sized enterprises.
The bank stated that in recognition of the pivotal role MSMEs play in driving economic development, it is dedicated to empowering businesses with the financial support they need to thrive.
By offering loans at a competitive 9% interest rate with a three-year tenor, UBA is removing the traditional barriers that hinder MSME growth in Nigeria and Africa.
Source: Legit.ng
