The future is bright for UBA shareholders: Elumelu

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Tony Elumelu who has been appointed as chairman of the United Bank for Africa (UBA) believes that there is much in store for shareholders.

“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.

(WATCH VIDEO: Growing concept of Africapitalism with Tony Elumelu)

“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.

(WATCH VIDEO: Game Changers Africa: Tony Elumelu)