Tony Elumelu, Chairman of the United Bank for Africa (UBA), has launched Ucee Microfinance Bank (MFB), a new subsidiary under Africa’s leading investment bank and financial services group, United Capital Plc.
The unveiling ceremony took place in Lagos, with key figures in attendance, including Stephen Nwadiuko, Chairman of Ucee MFB; Peter Ashade, Group CEO of United Capital Plc; and Esther Adeola-Balogun, Managing Director/CEO of Ucee MFB. During the event, Elumelu emphasized that establishing Ucee MFB is realising a long-held vision within the group.
Elumelu stated, “What we’re doing today is just one percent of making sure that we help to improve lives, create prosperity, and help society live a more comfortable life.”
He expressed confidence that Ucee MFB would exceed the expectations of the group, its customers, and the wider Nigerian public. Elumelu also voiced his belief in the bank’s leadership’s ability to expand Ucee MFB’s impact beyond Nigeria’s borders.
Peter Ashade, Group CEO of United Capital Plc, highlighted the bank’s mission to drive financial inclusion and expand access to financial services, aligning with the Central Bank of Nigeria (CBN) goals. Ashade said, “Our mission is simple: helping our esteemed clients reach their financial goals and democratizing access to financial services and infrastructure.”
Esther Adeola-Balogun, MD/CEO of Ucee MFB, described the bank as a digitally focused institution aimed at bridging the gap between traditional and digital microfinance banking. She noted that Ucee MFB is committed not only to profitability but also to making a significant impact on Nigerians’ lives.
“Our mobile app serves as a one-stop shop for all our products and services,” Adeola-Balogun explained. “We aim to serve people at all levels—from the bottom of the pyramid to the tech-savvy. Our services are designed to bridge the gap between traditional and digital microfinance banking.”
