Sola Yomi-Ajayi, CEO of the United Bank for Africa’s (UBA) operations in the United States, has been appointed to the Export-Import Bank of the United States (US EXIM) Committee on Sub-Saharan Africa for 2020/2021.
Established by the US Congress, the Sub-Saharan Africa Advisory Committee provides guidance and advice regarding US EXIM policies and programmes designed to support the expansion of financing for US manufactured goods and services in sub-Saharan Africa (SSA).
The committee is composed of prominent members of the US business community and Yomi-Ajayi is the sole representative of an African institution. UBA USA is the only SSA deposit-taking institution regulated in the United States and provides a unique portfolio of banking solutions to corporates, governments, multilaterals and development organisations transacting with Africa.
UBA USA can assist in trade finance, treasury, foreign exchange, transaction management and lending, drawing on UBA’s 70-year heritage and unique pan-African network.
According to UBA’s Group chairman, Tony Elumelu, the appointment is recognition of the role UBA has played over decades in promoting and supporting large and small businesses in all its 20 countries of operations in Africa.
“The appointment of Sola, as a member of the US EXIM Advisory Committee for SSA is welcome news.
UBA’s global network of offices in New York, London and Paris, permits us to be the preferred financial intermediary between Africa and the rest of the world. Our mission at UBA is fully aligned with the objectives of the US EXIM,” Elumelu said.
The EXIM president and chairman, Kimberly A. Reed, who congratulated Yomi-Ajayi and the other appointees, said,
“With six of the 10 fastest-growing economies in the world and more than one billion consumers, Africa is poised to play a pivotal role in the global economy. Supporting US exports to SSA is one of our top priorities at EXIM, and my deepest congratulations go to the new members of the EXIM Sub-Saharan Africa Advisory Committee.”
