Nigerian billionaire Tony Elumelu says UBA’s global expansion incomplete without Gulf
UBA’s entry into the Middle East comes just six months after Elumelu publicly disclosed his interest in investing in the Caribbean.
UBA’s entry into the Middle East comes just six months after Elumelu publicly disclosed his interest in investing in the Caribbean.
The opening brings UBA’s global presence to 24 countries and four continents.
Elumelu owns a sizable 6.96-percent stake in the banking group.
Elumelu is the founder of Heirs Holdings and Transcorp.
Elumelu owns a 6.39-percent stake in the company.
Elumelu derives a total wealth of $46.9 million from his stake in the pan-African bank.
The dividend will be paid from the bank’s profit for the first half of 2021.
The double-digit growth in profits can be attributed to UBA’s higher interest and non-interest income.
The businessman and philanthropist addressed the subject during an interview with Arise TV.
UBA Chairman Tony Elumelu set to earn $3.3 million from his shares in the bank.