UBA in talks with Dangote for new partnership

Pan-African lender United Bank for Africa is in talks with Aliko Dangote for a partnership to provide banking services to his Dangote Cement group in 13 countries, its chief executive said.

Phillips Oduoza told the Reuters Africa Investment Summit in Lagos on Thursday the move would leverage their overlapping presence across the continent.

UBA is in all of the 14 countries in which Dangote is building cement plants, except for South Africa.

"We are thinking of a strategic partnership between UBA and Dangote (Cement). We are still at the discussion stage," Oduoza said. "Thankfully in all countries where he has presence, except one, we also have a presence. We can standardise services."