UBA Unveils Diaspora Banking, Investment Platform to Drive $100bn Global African Capital

L-R: Head, Strategy, Research & Investor Relations, Africa Prudential, Joshua Omewah; Group Head, Sales, Retention and Growth, AVON, Ajibola Bakare; Managing Director, UBA Pension, Blessing Ogwu and Head, Diaspora Banking, Anant Rao, during UBA’s Panel session, themed: ’Beyond Banking: Powering the Diaspora Lifestyle,’ held at UBA House Marina, in Lagos on Thursday 

L-R: Head, Strategy, Research & Investor Relations, Africa Prudential, Joshua Omewah; Group Head, Sales, Retention and Growth, AVON, Ajibola Bakare; Managing Director, UBA Pension, Blessing Ogwu; Head, Diaspora Banking, Anant Rao; Chief Marketing Officer, Heirs Insurance Group, Ifesinachi Okpagu; Business Development Manager, United Capital, Onyinye Osunwoke and Executive Director, Afriland Properties, Olukayode Odebiyi, during the UBA’s Panel session, themed: ’Beyond Banking: Powering the Diaspora Lifestyle,’ held at UBA House Marina, in Lagos on Thursday

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has launched a comprehensive diaspora banking and investment platform aimed at serving Africans living and working across the world, as part of efforts to channel over $100 billion in annual remittance flows into structured wealth creation and long-term development across the continent.

The platform, unveiled at UBA’s global headquarters in Marina, Lagos, is designed to move diaspora engagement beyond remittances into a fully integrated financial ecosystem that supports banking, payments, investments, pensions, insurance, healthcare and real estate.

The initiative, developed in collaboration with key ecosystem partners including United Capital, Africa Prudential, UBA Pension, Afriland Properties, Heirs Insurance Group and Avon Healthcare Limited, was formally introduced during a high-level panel session themed “Beyond Banking: Powering the Global African Lifestyle.”

Speaking at the event, UBA’s Head of Diaspora Banking, Anant Rao, described the launch as a strategic redefinition of Africa’s relationship with its global citizens.

“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 said.

He noted that African diaspora remittances exceed $100 billion annually, describing diaspora capital as one of the most resilient and consistent sources of funding into the continent.

“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 added.

The platform integrates services spanning banking and payments, securities services, asset management, insurance, pensions, healthcare and real estate, enabling diaspora customers to access multiple financial solutions through a single coordinated ecosystem.

UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, emphasised that collaboration was key to delivering a seamless cross-border financial experience.

“The modern African is a global citizen — mobile, ambitious, and deeply connected to home. Whether living in Africa, Europe, the Americas, or the Middle East, there must be a structured and secure financial connection back home. This platform ensures that Africans everywhere can remain economically connected to the continent with confidence and transparency,” she said.

Ecosystem partners at the event highlighted growing demand among diaspora Africans for structured investment opportunities, secure property ownership frameworks, insurance protection, healthcare access and long-term financial planning.

United Capital presented globally accessible, professionally managed investment products, while Afriland Properties outlined structured real estate pathways tailored to diaspora clients. Heirs Insurance showcased life and asset protection solutions, and Avon Healthcare demonstrated cross-border healthcare coverage options for families. Africa Prudential and UBA Pension reinforced digital investment management and long-term pension solutions designed to support diaspora participation in African capital markets.

Rao also reiterated the philosophy of Africapitalism, championed by UBA’s Founder and Chairman, Tony O. Elumelu, which advocates for long-term private sector investments that generate both economic returns and social impact across Africa.

As the continent positions itself as one of the world’s fastest-growing economic frontiers, UBA said mobilising diaspora capital through trusted financial institutions will play a central role in shaping Africa’s next phase of development.

“Africa will increasingly be financed by Africans themselves, including Africans abroad,” Rao stated. “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.”