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Seasons Of Honours: UBA Wins Several International Awards, Including Global Finance Best SME Bank For 2023

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has continued to elevate its global standing, coveting several prestigious international awards, signaling the Bank’s continuous contributions to the economic development of Africa.

The recognition of the bank’s outstanding performance reaffirms its status as a leading player in the financial industry with critical financial intermediation, project financing, trade facilitation and advisory in Africa and beyond.

UBA emerged Global Finance’s Best SME Bank for 2023 in Nigeria, Ghana, and Mozambique, awards that spotlight the bank’s continuous resolve towards supporting small and medium scale businesses which is the life of any growing economy.

Also, the bank, with presence in 20 African countries won the 2023 FMDQ Gold Awards in three key categories of Money Market Liquidity Provider; FX Market Liquidity Provider and Dealing Member of the Year, while UBA was also named as Global Finance’s Safest Bank in Senegal 2023.

Responding to the FMDQ Group Awards, the Group Chairman, Mr. Tony O. Elumelu (CFR) said “this recognition is a testament to UBA’s impressive capital strength and capacity to provide liquidity to African financial markets even in the face of harsh economic realities, our market knowledge, dedication to customer services and the trust of our clients.”

Continuing on the global scene, UBA Ghana clinched the World Business Outlook Awards for 2023 as the Best Banking Services Provider Ghana 2023; Leading Financial Services Institutions Ghana 2023 and the Banking CEO of the Year Ghana 2023 which was won by Mr. Chris Ofikulu, the then CEO of UBA Ghana.

Earlier, the bank was highly celebrated as it clinched nine prestigious awards including the highly coveted Bank of the Year Africa 2023 at The Bankers Awards 2023, organised by The Banker Magazine – a publication of Financial Times of London, the world’s leading business newspaper. UBA’s subsidiaries in eight countries including: Cameroon, Chad, Ghana, Cote d’Ivoire, Mozambique, Republic of Congo, Sierra Leone, and Tanzania, underscoring the bank’s dominance and impact across diverse African markets.

UBA’s Group Managing Director, Oliver Alawuba, who received the awards on behalf of the bank, expressed his gratitude and excitement about the awards, and said the recognitions come as a reassurance that the bank is on track in its goal at consolidating its leadership position in Africa, as it continues to create superior value for its stakeholders.

“UBA is honoured to be named the Bank of the Year in these eight countries and to receive the overall Award for Africa. This accomplishment is a testament to the hard work, dedication, and innovative spirit of the entire UBA team. We remain committed to delivering top-notch banking services that positively impact the lives of our customers across the continent.

Speaking about UBA’s consistent excellence in the financial services sector across the continent which has earned the bank great accolades overtime, Editor of the Banker, Joy Macknight, said that as always, UBA remains a clear winner across a wide range of criteria, having performed impressively across its footprint with a strong financial performance across most of its markets.

“In a year of strong competition among the continent’s major banking groups, UBA has gained the edge on its rivals to win the Bank of the Year award for Africa for the third time in five years. Congratulations. The award recognises the bank’s strength across Africa, including many of its most competitive markets,” Macknight stated.

Only recently, UBA joined companies with N1trillion capitalization having seen its shares grew by over 260% since the beginning of 2023. UBA’s N1tn market capitalisation mark comes amidst the bank’s share being named as the highest performing stock in the banking sector in 2023, which underscores the bank’s robust growth trajectory and unwavering market confidence.

United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-five (25) million customers, across 1,000 business offices and customer touch points in 20 African countries. With presence in New York, London, Paris, and Dubai, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.

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New Secondary School Curriculum To Include Journalism, Programming Modules [SEE FULL LIST]

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Nigeria’s new secondary school curriculum will introduce modules on journalism, programming, artificial intelligence (AI), robotics, and fact-checking, according to details released on Wednesday.

Dada Olusegun, senior special adviser to the president on social media, shared excerpts of the yet-to-be-unveiled curriculum document via his verified social media handle.

The new curriculum, which applies to both junior and senior secondary schools, is part of government efforts to modernise education and align learning with global digital and professional trends.

Breakdown of the curriculum

According to the document, journalism will now be taught under English Language at the senior secondary level, while programming is spread across both junior and senior cadres.

Digital literacy has also been expanded to include artificial intelligence and robotics in senior classes.

For junior secondary school (JSS 1–3), subjects include:

  1. Mathematics & Measurement (covering algebra, geometry, statistics, and more)
  2. English Language (essay writing, grammar, comprehension, oral skills)
  3. Integrated Science (physics, chemistry, biology, earth science, lab safety)
  4. Digital Literacy & Coding (Word, Excel, PowerPoint, Python basics, Scratch, robotics kits)
  5. Social Studies (history, geography, civics, economy, entrepreneurship basics, global issues)
  6. Languages (mother tongue, French/Arabic)
  7. Creative Arts (drama, crafts, music, film basics)
  8. Physical & Health Education (fitness, nutrition, reproductive health, drug abuse awareness).

For senior secondary school (SS 1–3), highlights include:

  1. English & Communication (academic writing, journalism, fact-checking, public speaking)
  2. Technology & Innovation (Python, JavaScript, HTML/CSS, data science, AI & robotics, cybersecurity)
  3. Research & Project Work (final-year project, data collection, presentation & defence)
  4. Social Sciences (economics, government, history, philosophy, entrepreneurship).

Focus on digital and practical skills

The curriculum also introduces modules on digital entrepreneurship, cybersecurity, media production, and mental health awareness.

Officials say the new subjects are designed to equip students with both academic and practical skills needed to navigate the evolving global economy.

The Federal Ministry of Education is expected to formally launch the curriculum in the coming weeks.

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Fidelity, Sterling, Other Tier-2 Banks Under Pressure As CBN’s 2026 Recapitalisation Deadline Looms — SBM Report

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Nigeria’s mid-tier lenders are under mounting pressure to scale up operations or face mergers as the Central Bank of Nigeria (CBN) enforces its 2026 recapitalisation programme, a new report has revealed.

The report, released by SBM Intelligence and titled “Capital, Competition, and Consolidation: How Nigeria’s Tier-2 banks are responding to the CBN’s 2026 recapitalisation order,” examined the financial health and capital-raising efforts of First City Monument Bank (FCMB), Fidelity Bank, Stanbic IBTC, Sterling Bank, and Wema Bank.

In March 2024, the CBN directed banks to increase their minimum capital base by 2026. Under the new rule, international banks must raise ₦500 billion, national banks ₦200 billion, and regional banks ₦50 billion. The apex bank said the measure will boost financial stability and prepare lenders to support the government’s ambition of building a $1 trillion economy.

Share price rally

The SBM report highlighted how some tier-2 banks have outperformed expectations in recent years. Fidelity Bank’s share price rose from ₦1.65 in 2020 to over ₦21.20 by mid-2025, representing more than 1,100 percent growth. Wema Bank also recorded a surge from ₦1.50 to nearly ₦15.00 over the same period.

FCMB and Sterling Bank posted steady gains, while Stanbic IBTC maintained resilience despite macroeconomic volatility.

Capital-raising strategies

To meet the recapitalisation target, FCMB has embarked on a three-phase plan to raise ₦400 billion through public offers, divestments in subsidiaries, and offshore placements. Fidelity Bank has already secured over ₦270 billion from an oversubscribed rights issue and public offer, with plans to complete the process ahead of schedule.

Sterling Financial Holdings is pursuing a mix of rights issues, private placements, and a $400 million public offering, while Wema Bank has combined a ₦150 billion rights issue with a ₦50 billion private placement after an earlier ₦40 billion issue in 2023.

Mergers expected

SBM predicted that consolidation in the banking sector will intensify as the 2026 deadline approaches, with mergers and alliances likely among mid-tier lenders.

“The financial performance of these banks in 2025 underscores their capacity to compete and thrive, even as Tier-1 institutions consolidate their dominance,” the report noted.

It added that the ability of tier-2 banks to adapt to regulatory demands, strengthen technology adoption, and implement bold capital strategies will determine their future in Nigeria’s evolving financial sector.

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UBA, Mastercard Launch Prepaid Card To Promote Financial Inclusion

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, in collaboration with Mastercard, Tuesday announced the launch of the Mastercard prepaid card to further accelerate financial inclusion and expand access to digital payment solutions across Africa.

The card, which does not require a traditional bank account, is designed to serve individuals who have historically lacked access to formal financial services, particularly young adults, gig workers, and low-income earners. It enables users to top up funds easily, transact both locally and internationally, and manage spending with flexibility and security.

With more than 28.9 million adults in Nigeria remaining unbanked, and digital-first tools increasingly demanded by youth and freelancers, the prepaid card directly addresses pressing gaps in the financial ecosystem.

Mastercard’s Country Manager, West Africa, Dr Folasade Femi-Lawal and Group Head, Retail & Digital Banking, United Bank for Africa (UBA), Shamsideen Fashola, during the the launch of the Mastercard Prepaid Card to further accelerate financial inclusion and expand access to digital payment solutions across Africa, held at the Bank’s headquarters in Lagos on Monday.

Group Head, Retail & Digital Banking, United Bank for Africa (UBA), Shamsideen Fashola, who noted this is a demonstration of the bank’s customer-first approach, stated that the bank is committed to ensuring that every Nigerian is banked and gets the best service.

“This collaboration with Mastercard is yet another demonstration of our customer-first approach. We are committed to providing practical solutions that meet the everyday needs of Nigerians, and this card will make payments simpler, safer, and accessible to all”

Mastercard’s Country Manager, West Africa, Dr Folasade Femi-Lawal, said: “At Mastercard, we are relentlessly committed to advancing financial inclusion through innovative and secure digital payment solutions that serve both banked and unbanked Nigerians. Collaborating with UBA enables us to unlock endless possibilities by connecting individuals across all income levels, demographics, and social strata. Together, we are empowering Nigerians with the tools they need to confidently participate in the global economy and shape a more inclusive digital future.”

The prepaid card offers distinct benefits for different user groups. Cardholders can use it as a convenient budgeting tool; freelancers and gig workers gain a flexible expense solution; and the unbanked are empowered through a secure, reloadable allowance card. The product is globally accepted and supported by Mastercard’s trusted infrastructure, providing users with peace of mind and seamless digital payment experiences.

This collaboration aims to pave the way for a more inclusive and sustainable financial future in Africa, by striving to break down long-standing barriers, enable underserved communities, and advance economic growth.

United Bank for Africa (UBA) Plc is a leading pan-African financial institution, offering banking services to more than 45 million customers across 20 African countries, as well as in the United Kingdom, the United States, France, and the United Arab Emirates. With a strong focus on innovation, financial inclusion, and customer service, UBA provides retail, commercial, and institutional banking solutions, empowering individuals, businesses, and governments through cutting-edge digital platforms and inclusive financial products.

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

www.mastercard.com

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