Business
UBA Adding Saudi Arabia to Branches Expansion
The United Bank for Africa (UBA) Group has declared its intention to expand its presence in Saudi Arabia by 2025.
“Our Chairman was in Saudi Arabia recently, and announced that UBA will establish its presence there next year. We will also launch additional African subsidiaries, ensuring that the bank grows from strength to strength,” said Oliver Alawuba, Group Managing Director/ CEO.
Alawuba revealed this during a send-forth dinner held in honour of the bank’s retired non-executive directors in Abuja.
Q Alawuba revealed that the bank has over 25,000 staff and serves more than 45 million customers across 24 countries.
The UBA Chairman, Tony Elumelu, praised the retired directors and their families for their dedication and sacrifices.
“At UBA, we are more than just a bank; we are a family. These individuals have been selfless, ultra-dedicated, and instrumental to the success we have achieved in Nigeria, Africa, and globally.
We owe a debt of gratitude to their families for the support they provided,” Elumelu said.
Business
AfCFTA : Nigerian Goods In High Demand In Africa, says Minister
On a trade mission to Botswana with about 11 Nigerian businesses, one of them immediately got an order of 6,000 T-shirts to be supplied there.
The Minister of Trade, Industry and Investment, Dr Jumoke Oduwole, has said that Nigerian goods continue to remain competitive and, in particular, high demand on the continent.
The minister disclosed this yesterday in Abuja at the 2026 Third Quarter meeting of the African Continental Free Trade Area (AfCFTA) Central Coordination Committee (CCC).
She said, ” I think that a lot of Nigerians have the perception that Nigerian goods are not competitive on this continent. Nigerian entrepreneurs have shown that they can compete anywhere in the world, and are doing particularly well in the rest of Africa, and this is demonstrated by our non-oil exports, which have gone up exponentially, and it’s due to the exports of Nigerian goods across the African continent
She said on a trade mission to Botswana with about 11 Nigerian businesses, one of them immediately got an order of 6,000 T-shirts to be supplied there.
Business
After South Africa, Kenya Cracks Down on Foreign Traders, Retailers
Ruto directed authorities to begin shutting down small businesses operated by foreign nationals from September 7, saying hawking and small-scale retail should be reserved for Kenyans.
Kenya is beginning a crackdown on foreign nationals operating small retail shops and engaging in hawking, after President William Ruto directed authorities to shut down such businesses from September 7.
Ruto announced this on September 2 while addressing micro, small and medium-sized enterprises, MSME. traders at State House in Nairobi.
He said foreigners should not compete with Kenyans in businesses such as hawking and small retail, while foreign investment was welcome in activities requiring greater capital.
Ruto directed authorities to begin shutting down small businesses operated by foreign nationals from September 7, saying hawking and small-scale retail should be reserved for Kenyans.
He said the government would take administrative action while the Parliament of Kenya considers the proposed Local Content Bill, 2025.
He also directed National Assembly Majority Leader Kimani Ichung’wah and Trade Cabinet Secretary Lee Kinyanjui to accelerate the bill’s passage through Parliament.
Business
NAFDAC Goes After Chinese Logistics Firms Over Products Counterfeiting
Chinese people (counterfeiters) own the logistics companies which they used to bring these (fake goods) things.” NAFDAC said it has been shutting down the logistics companies.
The National Agency for Food and Drug Administration and Control (NAFDAC) has revealed that Chinese counterfeiters now living in Nigeria are behind the proliferation of fake goods in Nigeria.
NAFDAC’s Director of Investigation and Enforcement, Martins Iluyomade disclosed that recent investigations found Chinese counterfeiters, previously operating externally, have set up plants and logistics channels inside the country.
How They Operate
He said, “Before, to fake a product, you needed to go to China to bring it. Now, you don’t need to go. They are here (in Nigeria) with us. They are the ones who will identify the product that will be moving, send it to their country (China), and then come here and distribute it to our people (Nigerians) without having to travel, thereby worsening the production, distribution and sale of adulterated, harmful and unwholesome products.
Iluyomade, describing it as a “new trend making it (fake goods situation) look this serious,” noted that NAFDAC discovered the “Chinese people (counterfeiters) own the logistics companies which they used to bring these (fake goods) things.” NAFDAC said it has been shutting down the logistics companies.
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