Browse Tag

Brexit

3 mins read

6 Black Owned Banks in the UK

Several members of the SHOPPE BLACK community in London and surrounding areas have reached out to us asking if we know of any Black Owned banks in the UK.

The short answer: Of course we do!

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However, we strongly advise doing your own research also in order to make the best decision with your hard earned money.

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If you are interested in moving to a Black owned bank, and we assume you are, we also recommend taking a hard look at the leadership and management teams of the banks you are considering. As with any other type of business, a Black CEO does not necessarily mean a Black owned/controlled bank.

With that being said, here’s our list:

Black Owned Banks in the UK

FBN Bank (UK) is a wholly owned subsidiary of First Bank of Nigeria Plc, with offices in the heart of the City of London. FBN was incorporated as a Limited Liability Company in March 1894, with a head office in Liverpool. They are the “London bank for Nigerians, either resident in the UK or simply visiting.” MD and CEO: Dr. Adesola Kazeem Adeduntan (FCA)

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Guaranty Trust Bank (UK) Limited is the fully owned subsidiary of Guaranty Trust Bank Plc, one of the leading financial services providers in Nigeria. They have business operations spanning the United Kingdom, West Africa and East Africa. Managing Director and CEO: Adekunle Adebiyi

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Ghana International Bank (GHIB) which was incorporated in 1998, took over the London operations of Ghana Commercial Bank with the latter retaining a 20% ownership of the new bank. Ownership is now shared with other Ghanaian state institutions. The Central Bank of Ghana is the major shareholder (51%) while other stakes are held by the Social Security and National Insurance Trust. Managing Director and CEO: Joe Mensah

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UBA Capital Europe Limited is a wholesale, investment bank and the London banking subsidiary of UBA Plc. It is also the first sub-Saharan bank to expand into North America when it opened its New York office in 1984 to offer banking services to Africans in Diaspora. Chairman: Tony O. Elumelu

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Zenith Bank (UK) Ltd is a member of the Nigerian-based Zenith Bank Group. In March 2007, Zenith Bank was licensed by the Financial Services Authority (FSA) of the United Kingdom to establish Zenith Bank (UK) Limited. Zenith Bank Plc also has subsidiaries and representative offices in West Africa, South Africa and The People’s Republic of China. Chairman and Co-founder: Jim Ovia

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Union Bank (UK )Plc is a subsidiary of the Union Bank of Nigeria Plc, one of the oldest banks in West Africa. They have been operating in London since 1983, firstly as the London branch of their parent bank, and since October 2004 as an independently incorporated UK bank. Chief Executive Officer: Emeka Emuwa

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8 mins read

Brexit, White Supremacy, and What This Could Mean for Black People

When a UK-based colleague (who just happens to be a brilliant Black British woman of Ghanaian descent), told me that her delayed response in our email exchange was because the newly announced Brexit had floored her, I had absolutely no clue what she spoke of. Mainly because I’ve been in a news-less bubble for the past few weeks. I wasn’t always this way. Prior to my year-long journey into Lucumí priesthood, I watched BBC World News 24/7. It was my favorite pastime. I knew about missing airplanes, Boko Haram, beef with Putin, any and everything related to global markets, the royal family, or the British journalistic perspective of America’s Black people getting murder by police problem. But having had to take an extended sensory-overload pause, I haven’t quite returned to my old habit. Because sometimes, as we all know, whether local, national or global, the news can be a little too much.

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So when I actually began to inform myself of what I’d missed over the past several days (sort of zooming past the normal U.S. election cycle Charlie Brown’s teacher-esque chatter), I was kind of blown away by the United Kingdom’s decision to secede from the European Union. Of course, my first thoughts went to all of my Black and non-white friends and colleagues there, which is always the case. Anytime anything dramatic is going on in the world, I can’t help but consider its impact on Black people, here or elsewhere. Once I was able to draw links between this racist power play with some overtly racist socio-cultural-political climate changes in the Netherlands, and the Little Shop of Horrors reality-show of an election year here, Donald Trump’s rhetoric didn’t seen so cartoonish anymore.

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Great Britain isn’t the only place that’s losing its liberal mind. Recently, Brazil’s government impeached  Dilma Rousseff, the country’s first woman president, a former guerrilla activist and fierce fighter of the oppressed. Hundreds of thousands of Afro-Brasilians hit the streets to protest her impeachment.

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And what has happened in the aftermath? A conservative all-white, all-male, hyper conservative [read: racist] leadership has replaced her. All that to say what’s happening in the UK isn’t occurring in a vacuum. There are larger implications for people of African-descent everywhere. And a reason, at least for me, for us to re-examine a need for global solidarity if there is such a thing in the 21st Century. So the idea that after electing its first Black president in its history, the U.S. could follow suit by electing Mr. Charlie’s buffoonish cousin for a president, isn’t totally out of the question.

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Given the dramatic blow this move could have on the global economy – American friends were online complaining about the fact that ASOS had been down and British Airways briefly halting operations – it’s appalling to consider that millions of Britons voted to leave the EU simply because of immigration. As a global citizen, I’ve always been a little dismayed by my passport not being stamped every time I stepped foot in another EU country during travels, but I’ve also non-selfishly recognized the amount of freedom this movement has given to many Europeans, particularly those of African descent. To recede as a global superpower from the EU and drastically radicalize immigration in ways that haven’t been experienced since the Second World War, is to initiate a global meltdown itself.

The past couple of days, the Brexit-related reports I’ve read and heard from friends are dismal. On more than one occasion, friends were told to go back to where they came from. The only problem is, that they were born in the UK. White Britons, have been making proclamations about taking their country back. All of which, is rather disturbing and comical given the fact that England became a global superpower off of the backs and blood of the Black and brown people that it both enslaved and colonized for centuries. Or the fact that many white Britons themselves have mixed European ancestry

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But ignorance begets fear and fear begets hatred and hatred, violence, which becomes a breeding ground for white supremacy. And not the unbothered, cross-burning white supremacy that was taught about in history books or experienced firsthand in our interactions with rednecks in the American Deep South. No these nouveau white supremacists are your co-workers, and managers, CEOs, and restaurant goers, gentrifiers, policy makers and police officers who make off-putting comments, pull idiotic stunts, and force you to make very uncomfortable decisions about how to respond – either slap the sh*t out of them and risk life-threatening repercussions or silently chew on whatever venom they’re spewing your way. Because those old days are not only coming, they’re here.

White supremacy, which truly exists because of white fear, functions even better under the illusion that it will be upheld and maintained. I think it’s painstakingly clear that Europe, is not more progressive than the U.S. And to many Black and non-white Europeans particularly of our generation, they’re beginning to see the true colors of whiteness in all of its glory. So the question is, what’s our game plan? Are we prepared for the global repercussions of this move on Black bodies? Are we equipped to create spaces for solidarity that will equip our communities with strategies and pro-active blueprints for how to go to battle bigotry? Or we will simply allow, global society to regress to a space where we were in reality, the wretched of the earth?

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Michelle Escoffery-Ojo and Osiki Escoffery-Ojo. Both British citizens by birth and nationality. Michelle identifies as a British Jamaican and Osiki as a Nigerian born in the U.K.

“In a few years, most Black people are going to be like ‘we got to get out’” says my friend Michelle Escoffery-Ojo, a Black-Brit (by way of Jamaica). If hell were to freeze over and Trump were to be elected, many of us have said the same thing. But the question I’ve been asking everyone is, but where do we go?

– Shantrelle P. Lewis

Featured Image Photo: “Natasha Cooper” (c) Sara Shamsavari, 2012 from her Britain Retold series