Pan-African banking group United Bank for Africa which operates in 19 African countries, New York, London and Paris commits to deploy more resources to its East African subsidiaries in Uganda, Tanzania and Kenya.
The move for the bank which serves more than 11 million customers through over 1000 business offices and touch points across the continent and globally, recognises the increasing importance of Africa to its growth and diversification strategy. It will further enhance the capacity of the UBA subsidiaries in financing development initiatives in the region.
Indications to the effect emerged Tuesday May 10, 2016, during separate meetings in Kampala by the UBA Group Chairman Mr Tony Elumelu, CON with President Yoweri Museveni and Governor of the Central Bank of Uganda, Mr Emmanuel Tumusiime-Mutebile. Mr Elumelu was accompanied by the Chairman of UBA Uganda Dr. Eric Adriko and other members of the Board of UBA Uganda.
“We are deeply committed to the markets in which we operate and have established a strong track record of supporting critical infrastructure and other development initiatives that drive inclusive growth and job creation ” said the UBA Group Chairman.
He informed the President and Central Bank Governor of the Group Board approval to boost the operating capital of its East African subsidiaries, including UBA Uganda.
Source : Leadership