United Bank for Africa (UBA) Plc has unveiled a diaspora banking and investment platform aimed at Africans living and working abroad and within the continent.
The platform was launched in collaboration with United Capital, Africa Prudential, UBA Pensions, Afriland Properties, Heirs Insurance Group and Avon Healthcare Limited.
According to the bank, the initiative is designed to move diaspora engagement beyond remittances to structured investment and wealth management.
The unveiling took place at UBA’s headquarters in Lagos under the theme, “Beyond Banking: Powering the Global African Lifestyle,” with representatives of partner organisations outlining services available on the platform.
UBA’s head of diaspora banking, Anant Rao, said the initiative marks a shift in how the continent engages its citizens abroad.
“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,” he said.
Mr. Rao noted that diaspora remittance flows to Africa exceed $100 billion annually.
“Diaspora capital is not just a flow of funds – it is a strategic growth partner for Africa. Our role is to provide a trusted platform that converts capital into structured investment and shared prosperity across the continent,” he said.
He explained that the platform integrates banking and payments, investments, securities services, asset management, insurance, pensions and real estate into a single system to enable users manage financial commitments across borders.
UBA’s group head of marketing and corporate communications, Alero Ladipo, said collaboration among partners would ensure access to financial services for Africans living in Africa, Europe, the Americas and the Middle East.
“This platform ensures that Africans everywhere can remain economically connected to the continent with confidence and transparency,” she said.
Partner organisations highlighted demand among diaspora Africans for investment options, property ownership, insurance and pension planning.
Rao also referenced the concept of Africapitalism championed by UBA founder and chairman, Tony Elumelu, which promotes private sector investment for economic returns and social impact.
He said mobilising diaspora capital through financial institutions would play a role in the continent’s development.
“Africa will increasingly be financed by Africans themselves, including Africans abroad. Our responsibility is to build the trusted financial infrastructure that makes this possible. When Africa’s global citizens invest back into Africa, growth becomes inevitable,” Rao added.
