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UBA commended for commitment to African economies

By Amaka Agwuegbo
The Zambian High Commissioner to Nigeria, His Excellency, Alex Luhila, has commended the United Bank for Africa (UBA) Plc for its critical role in the growth and development Zambia’s economy and those of other African countries.

Luhila gave the commendation during a working visit to the Group Managing Director/ Chief Executive Officer of the bank, Mr. Phillips Oduoza, at the bank’s corporate office in Lagos.

“I’m particularly delighted to see an African bank making critical financial interventions in addressing key infrastructural challenges on the continent, and more so in my home country, Zambia.

“In less than two years that UBA came into Zambia, the bank has played key roles in project finance, innovative banking services and job creation. It is only by way of the role UBA plays on the continent that can lift development of the African economy.”

While conveying the appreciation of the Zambian President, Mr. Rupiah Banda, and his desire to meet with the bank’s management during a planned visit to Nigeria, he urged other African financial institutions to emulate UBA in enhancing the economy of Africa.

“UBA’s landmark rapid expansion across Africa is a testimony to the bank’s commitment to ensure that African economic potentials are harnessed to the benefit of the citizenry,” Luhila said.

While thanking the High Commissioner for the visit, UBA’s CEO, Oduoza, assured of the bank’s continued commitment to the developmental agenda it has set for itself in Africa.

“This continent is full of potentials, with human and material resources comparable to any other part of the world, and it is imperative that African corporations take the lead in helping to realize these potentials.”

Oduoza assured of the bank’s readiness in meeting the financial needs of the African nations by bridging finance-project gaps, through infrastructure financing, loans syndication, trade facilitation and investment promotions.

“With UBA’s presence in 16 African countries, we are leveraging on very strong fundamentals to achieve our African goals.”

Commenting on innovations to improve trade relations in Africa, the UBA boss said that the bank recently launched products to facilitate trade and commerce between African nations via its payment platforms such as AfriCash, AfriTrade and AfriCard, developed to facilitate intra African transactions.

United Bank for Africa Plc is one of Africa’s leading financial institutions offering universal banking to more than 7.5 million customer accounts across Africa and key financial centres.

It currently operates in 18 African countries  and  has presence in New York, London and Paris thus being able to effectively arbitrage Africa an African related business globally.


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