UBA expands African operations with 20th continental subsidiary
Adesola Afolabi was a businessamlive reporter and Head of Financial desk.
United Bank for Africa (UBA) Plc has announced the commencemet of full banking operations in Mali.
The bank said the Mali subsidiary is the 20th in Africa and a fulfillment of the aspiration of deepening banking penetration in Africa.
A statement from the bank on Wednesday noted that the launch of it’s latest addition in Mali was occasioned by Ibrahim Aboubacar Keita, the president of the Republic of Mali, who gave an unprecedented speech at the opening ceremony.
“Tony promised it and he did it,” said the president, referring to UBA group chairman, Tony Elumelu, on his promise made several years ago to bring UBA to Mali.
The Malian president was also quoted to have praised UBA Group for the vision to expand the bank’s footprint to Mali.
He commended the tenacity and commitment of UBA and its group chairman to the development of the continent, calling African financial institutions to follow the developmental philosophy of the bank and its chairman in growing infrastructure, deepening financial inclusion and being catalysts for eradicating poverty in Africa.
In his response as he welcomed the dignitaries and all stakeholders present at the launch, Elumelu, asserted UBA’s sustainability principles and philosophy. “UBA is Africa’s global bank, a leading pan-African brand, committed to democratising banking on the continent.
“We are progressive partners for African corporates, institutions and governments whilst also helping to fulfil the financial aspirations of individual customers. Our train has finally arrived in Mali. We are here for mutual progress; we are here for shared prosperity,” Elumelu noted.
Expressing his enthusiasm on the group operation in Mali, Kennedy Uzoka, the group managing director, UBA Plc, said “We are in Mali to offer world class financial services that will surpass the expectations of our customers. I assure you that UBA is poised to deliver excellent services to the entire population of Mali’ he posited.
Alhassane Sissoko, the CEO, UBA Mali told customers that the bank is optimistic on the competitiveness of its franchise in Mali with strong potentials for accelerated market share gain over the near to medium term.
He re-assured private and public sector players of good things to come. “The advent of UBA in Mali marks a turning point in the history of the Malian banking sector with new opportunities for businesses and individuals. We will always have in mind, the progress of our customers’ Sissoko said.