“I am working with a highly talented executive management team at UBA. Coupled with my experience in running banks and businesses as well as in creating value for shareholders, you will have a rosy future at UBA,” Elumelu told CNBC Africa.
He added that the Africa’s banking industry will remain profitable as countries on the continent continue to grow rapidly.
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“Banking is a long term business and investment in banking will continue to yield value.”
“Six of the 10 fastest growing economies are in Africa, what this pertains for banking in Africa is a good future.”
Elumelu is a Nigerian economist, banker, investor and philanthropist. He is currently chairman of African Investment Company, Heirs Holdings, and diversified conglomerate, Transnational Corporation of Nigeria.