UBA to continue to champion innovation— Group Chairman

•    Dr. Wampah (middle), with Mr. Elumelu (right) and other executives of UBA.

• Dr. Wampah (middle), with Mr. Elumelu (right) and other executives of UBA.

UBA (Ghana), a subsidiary of United Bank for Africa (UBA) Plc has marked 10 years of its operations in Ghana with a promise to continue to champion innovations in the banking sector.

The bank has been at the forefront of many product innovations in the country’s banking sector introducing the Cashless Account, Wise Alert among others.

Speaking to journalists at a dinner in Accra to climax the 10 years anniversary Mr. Tony Elumelu, Group Chairman of the United Bank for Africa said the bank was very excited about its achievements in the Ghanaian banking industry.

“We are poised to continue to be a key player in the market. Innovative products and services would be rolled out to our customers,” he said.

UBA was given a license to operate in Ghana in December, 2004, as the first bank with Nigerian majority shareholding to open in Ghana with an initial capitalisation of US$10 million.

In 10 years, UBA Ghana has pushed banking in the country to higher performance levels, where competition and innovation are now responding to the growing needs of consumers.

Mr. Elumelu attributed the bank’s impressive performance over the last 10 years to its loyal customers who have been with the bank since its inception.

“We want to say thank you to the people of Ghana and our customers, whose patronage has kept us here. 10 years in Ghana feels just like yesterday. We are saying well done to all our key stakeholders for hosting us,” he said.

Mr Elumelu paid a glowing tribute to the Bank of Ghana (BoG) for their relentless efforts in ensuring that regulatory policies were adhered to, to shape the banking industry in Ghana.

The Group Chairman also founded the Tony Elumelu Foundation, aimed at giving the chance for entrepreneurs across Africa to access a seed funding to grow their businesses through the 2016 edition of the Tony Elumelu Entrepreneurship Programme (TEEP).

In 2015, TEEP empowered 1,000 African entrepreneurs, selected from over 20,000 applicants, with start-up investment, active mentoring, business training, an entrepreneurship boot camp and regional networking across Africa.

The second annual round of the grant is worth US$100million for emerging African entrepreneurs. It is open to citizens and legal residents of all 54 African countries.  Applications for 2016 open on 1st January and can be made by any for-profit business based in Africa in existence for less than three years, including new business ideas.

Dr. Henry Kofi Wampah, Governor of the BoG, who was the guest speaker at the event, lauded the bank for the decade of outstanding service in the banking industry.

He urged the bank to continue to offer products and services to its customers in order to remain competitive.

 By David Adadevoh

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